A complete Due Diligence training course.
Get access to due diligence certification course and become a CEPRES certified Investment Manager.
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.
BASIC MODULE 2
Basic quantitive Due Diligence of a Private Equity fund.
- Basic analysis: a diagnostic check.
- IRR and TVPI Returns: Performance attribution analysis.
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.
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.
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.
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.
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.
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.
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.