"Alternative Investments":leveraged buyout

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Questions 1:

Which of the following is most likely a private equity strategy?

A、 Merger arbitrage

B、 Venture capital

C、 Quantitative directional

Questions 2:

Which of the following characteristics of a target company is likely the leastattractive for a leveraged buyout?

A、 Substantial amount of physical assets

B 、Strong and sustainable cash flow

C 、High leverage

View answer resolution

【Answer to question 1】B

【analysis】

B is correct. Venture capital is a private equity strategy in which private equity companies invest and get actively involved in the management of portfolio companies.

A is incorrect. This is a hedge fund strategy.

C is incorrect. This is a hedge fund strategy.

【Answer to question 2】C

【analysis】

C is correct. Low leverage is an attractive feature of a target company in a leveraged buyout. This characteristic makes it easier for an acquirer to use debt to finance a large portion of the purchase price.

A is incorrect. A substantial amount of physical assets is a desirable feature of a target company in a leveraged buyout.

B is incorrect. A strong and sustainable cash flow is a desirable feature of a target company in a leveraged buyout.

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