EFESO finds a repeatable route to alpha
🇬🇧 English
The institutional capability to convert an investment thesis into excess returns and sustainable enterprise value is the defining differentiator in PE performance, argue EFESO’s Andrea Mantegazza and Fabian Rodriguez. This article is sponsored by EFESO Management Consultants. How has private equity value creation evolved in recent years, and what has driven those changes? Andrea Mantegazza: Operational value creation has gone from being one lever among several to being effectively the only one.
After all, financing is becoming more expensive, hold periods are lengthening, and entry multiples are high.
🇸🇦 العربية
EFESO حول تحول إنشاء القيمة في رأس المال الخاص
The institutional capability to convert an investment thesis into excess returns and sustainable enterprise value is the defining differentiator in PE performance, argue EFESO’s Andrea Mantegazza and Fabian Rodriguez. This article is sponsored by EFESO Management Consultants. How has private equity value creation evolved in recent years, and what has driven those changes? Andrea Mantegazza: Operational value creation has gone from being one lever among several to being effectively the only one.
After all, financing is becoming more expensive, hold periods are lengthening, and entry multiples are high.
ما الذي دفع التحول في إنشاء القيمة في رأس المال الخاص؟
التمويل أصبح أكثر تكلفة، وفترات الحجز تطول، ومضاعفات الدخول مرتفعة، مما يجعل إنشاء القيمة التشغيلية الرافعة الأساسية للعوائد الفائضة.
🇧🇩 বাংলা
EFESO প্রাইভেট ইকুইটি মূল্য সৃষ্টির পরিবর্তনে
The institutional capability to convert an investment thesis into excess returns and sustainable enterprise value is the defining differentiator in PE performance, argue EFESO’s Andrea Mantegazza and Fabian Rodriguez. This article is sponsored by EFESO Management Consultants. How has private equity value creation evolved in recent years, and what has driven those changes? Andrea Mantegazza: Operational value creation has gone from being one lever among several to being effectively the only one.
After all, financing is becoming more expensive, hold periods are lengthening, and entry multiples are high.
প্রাইভেট ইকুইটি মূল্য সৃষ্টির পরিবর্তন কি চালিয়েছে?
বিত्तপोषण বেশি ব্যয়বহুল হচ্ছে, ধারণের সময় দীর্ঘ হচ্ছে, এবং প্রবেশ গুণক উচ্চ, ফলে পরিচালकीय মূল্য সৃষ্টি অতিরিক্ত রিটার্নের জন্য প্রধান লিভার হয়ে উঠেছে।
🇩🇪 Deutsch
EFESO über den Wandel bei der Wertschaffung im Private Equity
The institutional capability to convert an investment thesis into excess returns and sustainable enterprise value is the defining differentiator in PE performance, argue EFESO’s Andrea Mantegazza and Fabian Rodriguez. This article is sponsored by EFESO Management Consultants. How has private equity value creation evolved in recent years, and what has driven those changes? Andrea Mantegazza: Operational value creation has gone from being one lever among several to being effectively the only one.
After all, financing is becoming more expensive, hold periods are lengthening, and entry multiples are high.
Was hat den Wandel bei der Wertschaffung im Private Equity verursacht?
Die Finanzierung wird teurer, die Haltezeiten verlängern sich und die Einstiegsmultiplikatoren sind hoch, wodurch die operative Wertschaffung zum Haupthebel für überdurchschnittliche Renditen wird.
🇪🇸 Español
EFESO sobre el cambio en la creación de valor en private equity
The institutional capability to convert an investment thesis into excess returns and sustainable enterprise value is the defining differentiator in PE performance, argue EFESO’s Andrea Mantegazza and Fabian Rodriguez. This article is sponsored by EFESO Management Consultants. How has private equity value creation evolved in recent years, and what has driven those changes? Andrea Mantegazza: Operational value creation has gone from being one lever among several to being effectively the only one.
After all, financing is becoming more expensive, hold periods are lengthening, and entry multiples are high.
¿Qué ha impulsado el cambio en la creación de valor en private equity?
La financiación se está volviendo más cara, los períodos de tenencia se están alargando y los múltiplos de entrada son altos, lo que hace que la creación de valor operativo sea la palanca principal para obtener retornos excesivos.
🇫🇷 Français
EFESO sur l'évolution de la création de valeur en private equity
The institutional capability to convert an investment thesis into excess returns and sustainable enterprise value is the defining differentiator in PE performance, argue EFESO’s Andrea Mantegazza and Fabian Rodriguez. This article is sponsored by EFESO Management Consultants. How has private equity value creation evolved in recent years, and what has driven those changes? Andrea Mantegazza: Operational value creation has gone from being one lever among several to being effectively the only one.
After all, financing is becoming more expensive, hold periods are lengthening, and entry multiples are high.
Qu'est-ce qui a entraîné le changement dans la création de valeur en private equity ?
Le financement devient plus coûteux, les périodes de détention s'allongent, et les multiples d'entrée sont élevés, faisant de la création de valeur opérationnelle le levier principal pour obtenir des rendements excédentaires.
🇮🇳 हिन्दी
EFESO पर निजी इक्विटी मूल्य सृजन में परिवर्तन
The institutional capability to convert an investment thesis into excess returns and sustainable enterprise value is the defining differentiator in PE performance, argue EFESO’s Andrea Mantegazza and Fabian Rodriguez. This article is sponsored by EFESO Management Consultants. How has private equity value creation evolved in recent years, and what has driven those changes? Andrea Mantegazza: Operational value creation has gone from being one lever among several to being effectively the only one.
After all, financing is becoming more expensive, hold periods are lengthening, and entry multiples are high.
निजी इक्विटी मूल्य सृजन में परिवर्तन क्या चलाया है?
वित्तपोषण अधिक महंगा हो रहा है, धारण अवधि बढ़ रही है, और प्रवेश गुणांक उच्च हैं, जिससे परिचालन मूल्य सृजन अतिरिक्त रिटर्न के लिए मुख्य लीवर बन गया है।
🇮🇩 Bahasa Indonesia
EFESO tentang Pergeseran Penciptaan Nilai dalam Private Equity
The institutional capability to convert an investment thesis into excess returns and sustainable enterprise value is the defining differentiator in PE performance, argue EFESO’s Andrea Mantegazza and Fabian Rodriguez. This article is sponsored by EFESO Management Consultants. How has private equity value creation evolved in recent years, and what has driven those changes? Andrea Mantegazza: Operational value creation has gone from being one lever among several to being effectively the only one.
After all, financing is becoming more expensive, hold periods are lengthening, and entry multiples are high.
Apa yang telah memicu pergeseran dalam penciptaan nilai private equity?
Pembiayaan menjadi lebih mahal, periode pemegangannya semakin panjang, dan multiplikator entry tinggi, sehingga penciptaan nilai operasional menjadi palanca utama untuk menghasilkan returns berlebih.
🇯🇵 日本語
EFESOが語る私募ファンドにおける価値創造の変化
The institutional capability to convert an investment thesis into excess returns and sustainable enterprise value is the defining differentiator in PE performance, argue EFESO’s Andrea Mantegazza and Fabian Rodriguez. This article is sponsored by EFESO Management Consultants. How has private equity value creation evolved in recent years, and what has driven those changes? Andrea Mantegazza: Operational value creation has gone from being one lever among several to being effectively the only one.
After all, financing is becoming more expensive, hold periods are lengthening, and entry multiples are high.
私募ファンドにおける価値創造の変化を何が推進したのか？
ファイナンスが高コスト化し、保有期間が長くなり、エントリーマルチプライヤーが高いため、運営による価値創造が超過リターンを得るための主要なレバーとなった。
🇧🇷 Português
EFESO sobre a mudança na criação de valor no private equity
The institutional capability to convert an investment thesis into excess returns and sustainable enterprise value is the defining differentiator in PE performance, argue EFESO’s Andrea Mantegazza and Fabian Rodriguez. This article is sponsored by EFESO Management Consultants. How has private equity value creation evolved in recent years, and what has driven those changes? Andrea Mantegazza: Operational value creation has gone from being one lever among several to being effectively the only one.
After all, financing is becoming more expensive, hold periods are lengthening, and entry multiples are high.
O que impulsionou a mudança na criação de valor no private equity?
O financiamento está ficando mais caro, os períodos de retenção estão se alongando e os múltiplos de entrada estão altos, tornando a criação de valor operacional a alavanca principal para retornos excessivos.
🇷🇺 Русский
EFESO о смещении создания стоимости в частном капитале
The institutional capability to convert an investment thesis into excess returns and sustainable enterprise value is the defining differentiator in PE performance, argue EFESO’s Andrea Mantegazza and Fabian Rodriguez. This article is sponsored by EFESO Management Consultants. How has private equity value creation evolved in recent years, and what has driven those changes? Andrea Mantegazza: Operational value creation has gone from being one lever among several to being effectively the only one.
After all, financing is becoming more expensive, hold periods are lengthening, and entry multiples are high.
Что привело к смещению в создании стоимости в частном капитале?
Финансирование становится более дорогим, сроки удержания увеличиваются, а входные множители высоки, что делает операционное создание стоимости основным рычагом для получения избыточной доходности.
🇨🇳 简体中文
EFESO 论私募股权价值创造的转变
The institutional capability to convert an investment thesis into excess returns and sustainable enterprise value is the defining differentiator in PE performance, argue EFESO’s Andrea Mantegazza and Fabian Rodriguez. This article is sponsored by EFESO Management Consultants. How has private equity value creation evolved in recent years, and what has driven those changes? Andrea Mantegazza: Operational value creation has gone from being one lever among several to being effectively the only one.
After all, financing is becoming more expensive, hold periods are lengthening, and entry multiples are high.
什么推动了私募股权价值创造的转变？
融资变得更昂贵，持有期延长，入场倍数高企，使得运营价值创造成为超额回报的主要杠杆。