Knowledge Base
Business valuation, deal structures, succession planning, and the operational side of building something worth selling — or handing off.
22 articles in this category — page 2 of 2
Tax distributions in private equity solve a specific problem: partners in a pass-through fund owe taxes on allocated income whether or not they received cash. The fund distributes capital to cover those liabilities. Get the mechanics wrong in your partnership agreement, and you either drain the fund
The private equity capital stack is not an administrative detail. It is the primary driver of how risk distributes, how returns compound, and how much of your gain survives taxes. Get the structure right on a $50M acquisition and you might clear a 25% IRR. Get it wrong, and the same business at the
Private equity primaries are first-round capital commitments made directly into a private equity fund during its fundraising period, or directly into a private company before any secondary market exists for that stake. You are buying in at inception, accepting full illiquidity from day one, and bear
Private equity acquisitions follow a predictable playbook: acquire a company using a mix of equity and debt, compress costs and accelerate growth over a three-to-seven year hold, then exit at a multiple that returns capital to LPs. The mechanics are well-documented. What gets less attention is what
Private equity placement fees are payments made to intermediaries who help fund managers raise capital. They typically run 1% to 3% of total capital raised, though first-time or smaller funds can see fees as high as 5%. On a $500M fund, a 2% placement fee means $10 million paid to a placement agent
A private equity drawdown is the process by which a GP issues a capital call, pulling committed but undeployed LP capital into the fund to finance a specific investment or fund expense. You signed the LPA, committed $5M, and now the clock starts. Understanding exactly how that capital moves, when it
Aurelius private equity occupies a specific and deliberately narrow corner of the European mid-market: corporate carve-outs and special situations where operational dysfunction, not fundamental business failure, explains the distress. Founded in 2006 and headquartered in Munich, the firm targets sub
LLM estate planning tools are genuinely useful for modeling scenarios, organizing complex asset inventories, and generating first-draft documents. For high-net-worth individuals, that utility is real but bounded. The 2025 TCJA sunset alone creates a planning window worth millions in potential tax ex
Most people use these terms interchangeably. They shouldn't.
The best succession planning quotes don't inspire you. They pressure-test your assumptions. For founders and business owners at the $5M+ level, the real value in what Buffett, Drucker, and others said about succession isn't motivation, it's the framework underneath the words. This article extracts