Finanskrisens inverkan på styrning av private equity-bolagens styrning av portföljbolagen
En fallstudie av Accent Equity Partners
Abstract: Private equity used to be synonymous with tremendous yields and rates of return. However, the private equity market trembled in 2008, due to the financial meltdown caused by the worldwide credit crisis. Considering the current low number of exits within the private equity industry, the purpose of this thesis is to examine if there has been any change in how private equity firms control their portfolio companies since the inception of the crisis. One private equity company and two portfolio companies have been studied. The case study is prepared from interviews with senior directors in the portfolio company and investment managers in the private equity firm. Results confirm how management control has changed due to changed external and internal conditions. The increased focus on operational issues has also led to an increase in communication between the private equity company and the portfolio company. Our findings illustrate how the role of the private equity firm has transformed from acting as a strategic partner to serving as an operational allied.