Acquisitions Strategy of Private Equity Funds in Taiwan
Date Issued
2014
Date
2014
Author(s)
Liu, Pu-Chun
Abstract
The Private Equity Fund industry leads a boom of investments as a major player in the sixth merger waves since 2004. Under such circumstances, multiple merger and acquisition cases took place in Taiwan. To explore the impacts and driving forces behind this phenomenon, this thesis selects one influential private equity company, namely, The Carlyle Group, to explain acquisition strategy from both PE fund itself and corporate firm perspectives independently. The results show that, different acquisition strategies result from distinct targeted industries and business models. The Carlyle Group takes advantage of their professional research teams, excellent relationships among political connections and right timing, namely, make acquisitions when markets are down and transfer their ownership frequently. This article also discuss three private equity issue in the last, including their industry choices, business models and major controversy.
Subjects
私募股權基金
併購浪潮
動機理論
凱雷集團
Type
thesis
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