Education2019-01-11T09:57:31+02:00

Education.

CEPRES Education

A complete Due Diligence training course.

Get access to due diligence certification course and become a CEPRES certified Investment Manager.
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BASIC MODULE 1

Introduction to Private Equity fund screening.
  • The Private Equity investment cycle.
  • Initial fund screening.
  • A quantitative review of returns, risks & liquidity.
  • A qualitative review.
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BASIC MODULE 2

Basic quantitive Due Diligence of a Private Equity fund.
  • Basic analysis: a diagnostic check.
  • IRR and TVPI Returns: Performance attribution analysis.
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BASIC MODULE 3

Basic quantitive Due Diligence: a deep dive.
  • Benchmarking fund level returns – a good litmus test.
  • Benchmarking deal level returns – a real comparative analysis.
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ADVANCED MODULE 4

Advanced quantitive Due Diligence: a deep dive.
  • Evaluating PMEs – would you be better off investing in stocks or bonds?
  • PrMEs – PE versus other Private Markets.
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ADVANCED MODULE 5

Advanced Due Diligence: evaluating the portfolio companies.
  • Value Creation Analysis: proving if it really was hands-on.
  • Finding repeatable performance through correlation analysis.
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ADVANCED  MODULE 6

Evaluating risk in a GP track record, part 1.
  • Risk in terms of return volatility & company return spreads.
  • Risk adjusted alpha: does the GP strategy produce an absolute return?
  • Beta Risk analysis: how correlated are PE returns to public markets?
  • Conclusions for asset allocation.
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ADVANCED  MODULE 7

Evaluating risk in a GP track record, part 2.
  • Default analysis: taking a look at the downside.
  • Valuation multiples vs. market comparables.
  • Debt multiples: is the deal overleveraged?
  • Impact of investor returns by deal terms – correlation analysis.
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ADVANCED  MODULE 8

Understanding liquidity in an illiquid asset class.
  • Holding period: how it impacts IRR versus investment multiple.
  • Gross vs net IRR: your actual returns could be quite different.
  • Dry powder: the GP’s cash flow management.
  • Exit scenario forecasts: what else can you expect?
  • The J-curve: it should come back up.
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ADVANCED  MODULE 9

Line after crunching the numbers: completing the PE investement cycle.
  • Important aspects of qualitative due diligence.
  • Post-investment portfolio tracking.
  • Summary & Closing Remarks.
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