Financial Leverage Innovation Management Operations 
Harvard Business Review
AUGUST 9, 2016
The types of private equity firms and the approaches to managing these firms has evolved over the last 40 years through three general phases. This phase was loosely called leverage buy out (LBO) from about 1979 to 1990 and included over 2,000 LBOs. In this phase, the acquired property is not just managed, but transformed.
Harvard Business Review
MAY 1, 2017
And the average long-term ROE is more than 25%, reflecting improved efficiency combined with greater reliance on financial leverage at most companies. Some focus their best people on finding ways to squeeze out more profitability from existing operations, rather than creating new businesses.
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