Corporate Financial Management

You are Equity Analyst at a large US Asset Manager.

You have been asked to write a report for the fund’s CIO (Chief Investment Officer) analyzing the trends, rationale and potential consequences of the growth in privately held companies.

You have been specifically asked to address (not exclusively) the following issues:

• The growth of ‘non-public’ Capital Markets;
• The emergence of ‘asset light’ business models;
• The underlying factors driving the global supply & demand for capital;
• The impact of ‘Activist Investors’ & regulatory compliance upon public companies;
• The evolution & liquidity of ‘non-public’ venues for trading shares in private companies;
• The implications for productivity & economic growth;
• The longer-term consequences for the ‘valuation’ of public & private companies.

Students are encouraged to independently research, present their own findings, and support their work with figures, graphs and examples wherever applicable.