Private Equity’s New Phase
Harvard Business Review
AUGUST 9, 2016
This phase was loosely called leverage buy out (LBO) from about 1979 to 1990 and included over 2,000 LBOs. But for phase three (buy and transform), financial discipline is not an event, but a pattern; strategic clarity is not a direction, but a commitment; operational excellence is not a tool, but a mindset.
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