Enterprising Investor
Practical analysis for investment professionals

Private Equity


What Lies Beneath a Buyout: The Complex Mechanics of Private Equity Deals

Private equity buyouts are complex financial maneuvers. By understanding the structuring that lies beneath these transactions, stakeholders can navigate the intricate world of PE buyouts with confidence and precision.

Agency Risk in the Lower Middle Market: A Guide for PE Professionals

If there was a Wild West in Private Equity (PE), it would be the Lower Middle Market (LMM) — the ecosystem of companies with revenues between $5 million and $50 million. The LMM offers lucrative opportunities but… READ MORE ›

Private Equity: In Essence, Plunder?

To understand what private equity is at its worst is a call to action, personally and professionally.

Times Change: The Era of the Private Equity Denominator Effect

How can investors address the denominator effect in private equities?

Mergers and Acquisitions in 2024: Headwinds to Tailwinds?

With wide spreads, an improved playbook for assessing deal risk, and the potential for more M&A activity to materialize, 2024 could be a strong year for merger arbitrage performance. 

The 60/40 Portfolio Needs an Alts Infusion

How can investors supplement the traditional 60/40 stock/bond portfolio with allocations to alternatives?

Book Review: Plunder

Brendan Ballou presents a meta-analysis of the worst of private equity investment practices, thus compelling investors to take a deeper look into their illiquid private equity commitments.

Book Review: These Are the Plunderers

The PE playbook is always the same: Borrow money to acquire the firm, saddle it with debt, and extract exorbitant management fees.

Private Capital: Lessons from the Conglomerate Era

With their sprawling empires, the largest alternative asset managers have adopted strategies that borrow extensively from the octopus-like corporate conglomerate business model.