Welcome to GPEI
In the Spotlight

Southeast Asia Exit Landscape Report 2.0

GREEN SHOOTS: Can Private Equity Firms Meet the Responsible Investing Expectations of Their Investors?

The Institutionalization of Family Firms - Europe

Private Equity Real Estate Investors – Overcoming the Challenge of Sustainability & ESG: Pro-invest Group’s ESG Journey

To Buy or Not To Buy - The Agony of Choice: A Day in the Life of a Private Equity Partner

The Private Capital Advantage

A Liquidity Cushion in Troubled Times: The PE Secondaries Market

The Pervasive, Head-Scratching, Risk-Exploding Problem With Venture Capital

Introducing Excess Value: A Metric for Private Market Outperformance

Can Investors Save the Planet While Making a Profit?

Has Venture Capital Strayed From Its Roots?

Impact Investing in Covid-19 Times: A Three-Step Mission

Private Equity’s COVID-19 Recovery Plan

Impact Investing Private Equity Market Mapping

Krakakoa – Exit Strategy

Corporate Venture Capital

KK Fund – Growth Strategy for VCs

The Future of Boards and The Board of the Future

The Defensible Startup

Corporate Innovation through Venture Building

Investing at the Crossroads of Biotech & Food

LEGO Ventures Analysis Proposal Investment Decision in Digital Play in Asia

Southeast Asia VC HealthTech Landscape
Partners
It is GPEI's role to further INSEAD's ability to produce the unbiased, data-driven output and insights needed to fuel success in private equity and to provide a trusted forum for the exchange of ideas and learning within the industry. As a non-profit organisation we depend on support from individual and corporate partners.
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How to become a partner
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Become a Partner
INSEAD GPEI attracts funding from top international companies; our founding core supporters include General Atlantic, Boston Consulting Group and PricewaterhouseCoopers. Read Press Release.
It is GPEI's role to further INSEAD's ability to produce the unbiased, data-driven output and insights needed to fuel success in private equity and to provide a trusted forum for the exchange of ideas and learning within the industry. As a non-profit organisation we depend on support from individual and corporate partners.
Partnership options
Option 1: Alumni Partners – for INSEAD alumni in the PE industry
GPEI is supported and advised by a board of alumni in senior positions in the PE industry. These selected INSEAD alumni provide strategic guidance for the centre as well as resources needed for the centre to execute its vision. If you do not have the time to commit to our board, please consider supporting us on individual projects or with a donation to benefit the overall development of the centre via:Option 2: Corporate Partners – for companies in the PE industry
Join GPEI's consortium of leading industry partners – a select group of partners with complementary backgrounds. This group of corporate partners, together with the alumni board, constitute GPEI's advisory board. The size of the group will be capped and in order to join we ask for a multi-year commitment.Option 3: Research or Project Partners
If you are interested in being associated with specific areas of research or want to further knowledge development and its dissemination in the industry, please contact us for a discussion. To be clear, we do not engage in customised publications for paying clients ('research for hire').Partnership Benefits
GPEI's partners enjoy the privilege of being associated with a vibrant and open research environment. Through their association with GPEI, our partners receive significant recognition and visibility through their involvement in high-profile events, publications and the distribution of our reports across global networks.
Send us a message
Contact us if you have any questions or if you would like to make a referral to potential partners.
Corporate Partners
We thank our Corporate Partners for their multi-year commitment to GPEI and their longstanding support. It is not only a strong endorsement of our efforts, but allows us to extend the boundaries of private equity research and create a consistent dialogue between PE research and practitioners.
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Alumni Partners
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Many of INSEAD's alumni are either working in the private equity industry or have benefited from it as entrepreneurs and managers. Please consider supporting a specific research project or the overall development of PE at INSEAD. We are grateful to acknowledge support from the following alumni supporters:
Christoph Rubeli, INSEAD MBA '92D
Christian Stahl, INSEAD MBA '98D
Gilles Destremau, INSEAD MBA '87J
Mark Ellison, INSEAD MBA '83J
The Frank and Mary Dubczak Fund
Zhou Chuangen, INSEAD MBA '00D
Several anonymous donors
Advisory Board
Some alumni who hold senior positions in the PE industry support and advise GPEI on an ongoing basis through our alumni advisory board. All members commit to the advisory board for several years to have a measurable impact on the centre's strategy and execution.
We are looking for individuals who are passionate about the industry and INSEAD to help us define our role in the ecosystem. The following alumni constitute the advisory board. We are grateful for their support.
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Research and Project Partners
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Our Research Partners support GPEI with access to their data and cooperate with us on individual research projects:
Partners on Specific Projects
We partner with companies on specific projects. In addition to sponsorship, we are looking for access to data allowing us to develop original research. A selection of our project partners is shown below:
Research Initiatives
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Responsible Investing
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Responsible Investing
Investors and companies have expressed a growing appreciation of the impact that nonfinancial factors can have on value creation, long-term company performance, and the health of society at large. Over the past half-decade, this rising level of awareness has been spurred on by several organisations and industry bodies – such as the United Nations and the Private Equity Growth Capital Council (PEGCC) – that have developed best practice guidelines. GPEI explores the full spectrum of responsible investment, with a particular focus on two streams: impact investing and ESG in private equity.
Impact investing is an element or sector within the spectrum of socially responsible investing that seeks to deploy capital for an acceptable level of risk-adjusted return while concurrently incurring benefits in environmental and/or social terms. Put another way, impact investing marries the effect of an investment dollar on measurable, socially beneficial goals or metrics and the deployment of capital for an expected positive return.
For GPs executing growth capital and layout strategies, the ability to manage environmental, social and governance (ESG) investment considerations is increasingly viewed by leading GPs as lever for value creation. Private equity firms on the fundraising trail are not the only GPs cognizant of this trend; cost-savings potential, competitor activity and regulation all contribute to the rising awareness of ESG factors in investment committee decision making.
Work in this area is led by Ian Potter, Distinguished Fellow at GPEI.
Research
GREEN SHOOTS: Can Private Equity Firms Meet the Responsible Investing Expectations of Their Investors?
By Sara Lim, Ian Potter and Bartek Walentynski
October 2020ESG in Private Equity: A Fast-Evolving Standard
By Bowen White, Claudia Zeisberger and Michael Prahl
May 2014News
COVID-19 Accelerates ESG Trends, Global Investors Confirm
Fiona Reynolds
UNPRI
September 2020Investors Integrating ESG Can Indeed Do Well by Doing Good
By Charlie McGrath
Preqin
September 2020ESG Goes Mainstream in Private Capital
Preqin
September 2020Study Rebuts 'Widespread Claims' of ESG Outperformance amid Covid Turmoil
By Alf Wilkinson
Ignites Europe
August 2020ESG ETF Assets Break $100bn Barrier
By Alf Wilkinson
Ignites Europe
August 2020Impact Investing in Covid-19 Times: A Three-Step Mission
By Alexandra von Stauffenberg
INSEAD Knowledge
June 2020Mainstreaming Impact Investing: What Do Investors Want?
By Kevin Lu, Shunsuke Tanahashi, Noelle Tan
The Business Times
June 2018Impact Investing Comes Into Its Own
By Claudia Zeisberger and Kevin Lu
INSEAD Knowledge
April 2018Building an Impact Investing Business that Makes a Real Difference
By Jasjit Singh
INSEAD Knowledge
March 2018
The Stars Are Aligning for Socially Responsible Investing
By Ian Potter
INSEAD Knowledge
March 2017Getting the Big Money into Social Impact
By Ian Potter
INSEAD Knowledge
August 2015
Corporate Sustainability is More Than Just Ticking the Regulatory Box
By Jasjit Singh
South China Morning Post
September 2015
What are the Prospects for Impact Investing?
By Hugo Greenhalgh
Financial Times
December 2015With Pressure from Investors: Private Equity Considers ESG
By Katie Gilbert
Institutional Investor
November 2014Resources
Private Equity’s Role in Delivering the SDGs: Current Approaches and Good Practice
EMPEA
Case Studies
Private Equity Real Estate Investors – Overcoming the Challenge of Sustainability & ESG: Pro-invest Group’s ESG Journey
Claudia Zeisberger, Alexandra von Stauffenberg, Cindy Van Der Wal
April 2022Credit Suisse: Building an Impact Investing Business in Asia
By Jasjit Singh and Joost Bilkes
August 2017Events
INSEAD Team takes Top Prize at Social Impact Investing Competition
We congratulate this team of INSEAD MBA'17D students for winning this year's MBA Impact Investing Network & Training (MIINT) competition! Advised by Ian Potter, the team pitched an online medical venture to win the competition, which included six months of preparation and an intense two-day competition involving 125 students from 25 business schools around the world.
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Corporate Venture Capital
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Corporate Venture Capital
Corporations are in a race to stay ahead and relevant as new technologies and business models upend their businesses. While internal R&D is still the main source of innovation, Global 2000 companies have turned increasingly to strategic acquisitions and venture capital investments to drive top-line growth, accelerate time to market and exploit windows of opportunity, and to test the waters before entering new markets. By the end of 2017, three-quarters of Fortune 100 companies were actively deploying venture capital and CVC represented approximately 23% of all venture capital invested in 2017.
GPEI’s work in corporate venture capital seeks to illuminate the issues and questions that are driving interest and growth in this critical source of innovation funding. We will update this site regularly with insightful articles that highlight the role that CVC plays in driving innovation in corporations.
Work in this area is led by Deepak Natarajan – INSEAD Adjunct Professor of Entrepreneurship and Family Enterprise – who established Intel Capital's (Intel's CVC arm) SEA and ANZ operations in 2008.
Current Research
The team at GPEI are currently undertaking research to understand the nature of collaboration between corporations and startups, more specifically with the Corporate Venture Capital (CVC) arm of large multinationals and their ability to attract startups into their portfolio.
We are currently looking for both CVCs and startups to offer their insight and opinions on partnering with each other. If you are interested in being part of the research study, click here to fill up a questionnaire.
Publications
Corporate VC Is Booming, but Is It What Your Start-Up Needs?
By Nicolas Sauvage, Claudia Zeisberger and Monisha Varadan
August 2022
Is Corporate Venture Capital Right for Your Startup?
By Nicolas Sauvage, Claudia Zeisberger and Monisha Varadan
July, 2022
By Laura Rivera, Abhinandan Jain, Guillaume Iserin, Sangwoo Pak, Ingrid Vallee, Jermayne Chan (Class of MBA'21J)
April 2021
Case Study
Corporate Venture Capital Primer
By Peter Ziebelman, Claudia Fan Munce and Matthew Saucedo
December 2017
Resources
How Covid-19 Is Impacting Corporate Venture Capital Investment
CB Insights
June 2020
CB Insights
March 2020
Unlocking Corporate Venture Capital
500 SU
October 2019
The Golden Mean of Corporate Venture Capital
Pitchbook
May 2019
The Two Ways for Startups and Corporations to Partner
By Shameen Prashantham
January 2019A Guide to Corporate Innovation: 19 Strategies to Drive Innovation Now
CB Insights
November 2018History of Corporate Venture Captial
CBInsightsCollaboration between Start-ups and Corporates: A Practical Guide for Mutual Understanding
World Economic Forum
June 2018A Manual for CVC
By Iskender Dirik
August 2017News
How to Approach (and Work with) the 3 Types of Corporate VCs
By Scott Orn and Bill Growney
Techcrunch
May 2020Facing Disaster, Corporate Venture Capital to Undergo Key Stress Test
By Alexander Davis
Pitchbook News
March 2020Making Corporate Venture Capital Work
By Patrick Flesner, Michael Wade and Nikolaus Obwegeser
MITSloan
June 2019Your Next Check Could be Cut From One of These Atypical VC Firms
By Natasha Mascarenhas
Crunchbase News
June 2019Why Corporate Centuring is More Like Hedging than Institutional Venturing
By Christian Vogt
Medium
May 2019Corporate Venture Capital is Here to Stay
By Scott LenetForbes
May 2019Sovereign Wealth Funds Placed Record Venture Capital Bets in 2018
By Tom Arnold
Deal Street Asia
March 2019
5 Things Startups Should Know About Corporate Venture Capital
By Cato Gullichsen
CVC Insights
January 2019
The Most Commonly Cited Barriers to Innovation in Large Companies? Internal Politics
By Scott Kirsner
Harvard Business Review
July 2018
CB Insights State of Innovation Report 2018
CB Insights
July 2018
5 Thought Leaders Discuss Corporate Innovation in Podcasts
By Sramana Mitra
One Million by One Million Blog
April 2018Notes From the AI Frontier: Applications and Value of Deep Learning
By Michael Chui, James Manyika, Mehdi Miremadi, Nicolaus Henke, Rita Chung, Pieter Nel and Sankalp Malhotra
McKinsey Global Institute
April 2018Investor Spotlight: How Silver Lake's 'Four Amigos' Built a Tech Buyout Behemoth
By Kevin Dowd
PitchBook
April 2018
Can Corporate Venture Solve the Innovation Paradox?
By EY
April 2018By Alex Lykken
PitchBook
March 2018
Corporate Venture Capital is Doing it Wrong
By AbarreraThe Aleph
March 2018The Most Active Corporate VC Firms Globally
CBInsights
February 2018
3 Qualities You Need to Attract Corporate Venture Capital
By Paulina Karpis
Forbes
December 2017
What BMW’s Corporate VC Offers That Regular Investors Can’t
By Gregor Gimmy, Dominik Kanbach, Stephan Stubner, Andreas Konig and Albrecht Enders
Harvard Business Review
July 2017
Corporate VC is on the Rise: Here's What To Know
By Teddy HimlerForbes
February 2017Corporate VCs are Moving the Goalposts
By Pitchbook
November 2016CVC-Startups partnerships: A “deal with the devil”?
By Kary Bheemaiah
August 2016INSEAD & 500 startups partner to Uncover How the World's Biggest Companies Deal With the startup revolution
by INSEAD & 500SU
February 2016Making Sense of Corporate Venture Capital
By Henry ChesbroughHarvard Business Review
March 2002Books
By Eric Ries
By Eric Ries
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Family Offices and Private Equity
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Family Offices and Private Equity
Family businesses and family wealth play a powerful role in economies around the world. Our research focuses on two specific interactions between families and the private equity industry: the opportunity for private equity funds to partner with family businesses to catalyse growth and families' activity as investors in the PE asset class.
For family businesses looking to transform their operations, private equity can help catalyse change. In addition to an infusion of capital, a PE firm's process-driven approach to investing and the network of professionals can help a family business rapidly evolve its business. However, private equity's short investment horizon and different business model poses challenges to a successful partnership.
To share insight into the activities and attitudes of family investors, GPEI draws on its network of private equity LPs to engage with global family offices. In our publication on The Institutionalization of Asian Family Offices, we explore the growth and institutionalisation of family offices in Asia. The dominant role played by first generation wealth creators is a defining characteristic of our study. It places the family office industry in Asia at an earlier stage of institutionalization than Europe and North America. As regional wealth ages and the priorities of subsequent generations grow, we expect Asian family offices to increasingly mirror their Western counterparts.
Work in this area is led by Britta Pfister – Distinguished Fellow at GPEI.
Research
What Distinguishes Europe’s Family Business Champions from the Rest
By Alexandra von Stauffenberg and Claudia Zeisberger
2020The Institutionalization of Family Firms – Europe
By Alexandra von Stauffenberg and Claudia Zeisberger
2020The Changing Role of Family Offices in Europe
By Claudia Zeisberger, Caroline Decker-Lange and Knut Lange
2019Latin American Family Firms and the Path to Longevity
By Alexandra Albers-Schoenberg and Claudia Zeisberger
2019A Institucionalização das Empresas Familiares - América Latina (Portuguese Translation)
By Alexandra Albers-Schoenberg and Claudia Zeisberger
2019La Institucionalización de las Empresas Familiares - Latinoamérica (Spanish Translation)
By Alexandra Albers-Schoenberg and Claudia Zeisberger
2019The Institutionalization of Family Firms – Latin America
By Alexandra Albers-Schoenberg and Claudia Zeisberger
2019Asian Family Office - The Way Forward
By Ronil Sujan
2019The Institutionalization of Family Firms – From Asia-Pacific to the Middle East
By Bowen White, Alexandra Albers-Schoenberg and Claudia Zeisberger
2017INSEAD–Pictet Report on The Institutionalization of Asian Family Offices
By Bowen White, Claudia Zeisberger and Michael Prahl
2014Private Equity and Family Businesses – Making the Partnership Work
By Claudia Zeisberger, Michael Prahl and Jean Wee
2013UBS Global Family Office Report
2018
News
INSEAD Publishes Research on Family-backed Enterprises in Europe
INSEAD’s Global Private Equity Initiative
PRNewswire
February 2020
Hedge Funds Face a New Threat From Richest Families in Asia
By Klaus Wille
Bloomberg News
September 2018
(The article was also published on The Business Times and The Malaysia Reserve)
Successful Family Firms Shoot for the Moon
By Randel Carlock
INSEAD Knowledge
August 2018
Strategy And Succession in Family Business – Charting The Future
By Martin Roll
Martin Roll Business and Brand Leadership
July 2018Selling the Family Business in S-E Asia – Pitfalls and a Roadmap
By Claudia Zeisberger and Britta Pfister
The Business Times
March 2018Money Returns to Hong Kong and Singapore
By Claire Coe Smith
City Wealth Magazine
February 2018
What Family Firms Need to Ensure Longevity
By Bowen White
INSEAD Knowledge
November 2017How Family Firms Ensure Long-Term Value Creation
Podcast Interview with Claudia Zeisberger By Chris Riback
Working Capital Review
November 2017Professionalisation of Family Firms: Key Elements
By Morten Bennedsen and Brian Henry
Salamander, INSEAD Alumni Magazine
October 2017
How to Avoid Conflict During a Family Business Transition
By Britta Pfister
Hubbis Expert Insights
April 2017The Rise of Family Offices in Asia
By Jeremy Hazlehurst
Financial Times
June 2015
Why You Should Care About Family Office Values
By Britta Pfister
INSEAD Knowledge
May 2015Family Offices in Asia, the Middle East to Double, Insead says
By Klaus Wille
Bloomberg Business
April 2015
Now Hiring: Family Offices in Asia
By Bowen White and Michael Prahl
INSEAD Knowledge
January 2015
The Asian Family and Private Equity
By Michael Prahl and Claudia Ziesberger
2014
Events & Outreach Activities
Invest Europe-INSEAD Single Family Office Day
Geneva, 26 March 2019INSEAD Single Family Office Day, Asia 2018
Singapore, 7 November 2018Invest Europe-INSEAD Single Family Office Day
Geneva, 24 March 2018Family Enterprise Day: The Institutionalization of Family Firms
Singapore, 27 January 2018Invest Europe–INSEAD Single Family Office Day
Geneva, 28 March 2017Invest Europe–INSEAD Single Family Office Day
Geneva, 15 March 2016EVCA–INSEAD Single Family Office Day
Geneva, 17-19 March 2015INSEAD's 3rd Asian Family Office Day
Singapore, 22 January 2015European Forum of Family Investing
Paris, May 2014Family Office Lunch
Singapore, 17 January 2014
INSEAD's 2nd Asian Family Office Day
Singapore, 9 May 2013
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Infrastructure Investing
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Infrastructure Investing
It is widely documented that infrastructure drives economic growth, creates jobs, and improves quality of life. However, there's a chronic underinvestment in infrastructure due to historical underinvestment and explosion in demand. A 2016 McKinsey study placed the gap in infrastructure spending at $800 billion annually through 2030 while the World Bank estimates that as of 2018, there is a $1.3 trillion annual funding gap for infrastructure projects for emerging economies.
From a public policy standpoint, in order to finance infrastructure development, how investors and financiers should approach infrastructure assets becomes critical. From the investor standpoint, it is equally critical to form a complete understanding of this asset class, which bears a number of differences from traditional equity or debt assets. In addition to investors, infrastructure development typically involves a large number of other parties, including government entities, project sponsors, contractors, financial/technical/legal advisors, multilaterals, etc. How investors interact and collaborate with these public and private sector players to best identify, de-risk and invest in infrastructure assets requires not only a good technical understanding, but a new mindset that recognises infrastructure as a brand new asset class. GPEI seeks to approach these key topics from a PE and project finance angle.
Work in this area is led by Kevin Lu – Distinguished Fellow at GPEI; Partner, Chairman of Asia and a Member of the Global Executive Board at Partners Group.
Publications
How Private Investors Can Narrow the Global Infrastructure Gap
By Wissam Anastas
INSEAD Knowledge
September 2017New Equities for Infrastructure Investment
By Justin Yifu Lin, Kevin Lu and Cledan Mandri-Perrott
Project Syndicate
March 2015
Infrastructure's Class of Its Own
By Kevin Lu and Justin Yifu Lin
Project Syndicate
April 2014
Financing Asia's Infrastructure Gap: New Ideas for the Public & Private Sectors
By Kevin Lu
November 2013
To Finance the World's Infrastructure, We Need a New Asset Class
By Kevin Lu and Justin Lin
The Huffington Post
October 2013
Infrastructure Finance: Liquidity is Over-rated
By Kevin Lu
The Wall Street Journal
April 2012
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Venture Capital at INSEAD
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Venture Capital at INSEAD
Venture capital and VC-backed companies provide a glimpse into what our world might look like in the years to come. The disruptive technologies and business models funded through VC investment impact a wide range of industries, from consumer to healthcare to financial services. The steady growth of annual VC investment over the past decade and the global expansion of the industry have increased the capital available to fund new ideas across developed and emerging markets alike.
GPEI focuses on providing a link between industry experts and the INSEAD community, from case studies presented in the classroom to the centre’s support of the INSEADAlum Ventures seed fund. Funding mechanisms and participants continue to change almost as fast as the ideas seeking capital and GPEI seeks to illuminate the issues and questions in this dynamic area.
GPEI’s work in venture capital is led by R. Todd Ruppert.
INSEADAlum Ventures
GPEI is among a strong contingent of INSEAD stakeholders and alumni lending support to a new venture underpinning entrepreneurship at INSEAD: INSEADAlum Ventures (IAV). Launched in August 2015, IAV is a Singapore-registered investment company focused on providing seed funding, value-added resources and mentorship to selected INSEAD alumni who become entrepreneurs after graduation. Learn more about the fund and how to participate here.
Research
Southeast Asia Exit Landscape Report 2.0
by Golden Gate Ventures, INSEAD Global Private Equity Initiative
June 2021The Pervasive, Head-Scratching, Risk-Exploding Problem With Venture Capital
by Kamal Hassan, Monisha Varadan and Claudia Zeisberger
September 2020Has Venture Capital Strayed From Its Roots?
by Monisha Varadan, Kamal Hassan and Claudia Zeisberger
July 2020How the VC Pitch Process Is Failing Female Entrepreneurs?
by Kamal Hassan, Monisha Varadan and Claudia Zeisberger
January 2020Southeast Asia Exit Landscape - A New Frontier
by Golden Gate Ventures, INSEAD Global Private Equity Initiative
September 2019Getting Rid of Gender Bias in Venture Capital
by Monisha Varadan, Kamal Hassan and Claudia Zeisberger
August 2019Y Combinator Accelerates the Hunt for Unicorns
by Claudia Zeisberger
July 2019The Year of the Red Unicorns: A Preqin and INSEAD Study
by Alexandra Albers, Ian Potter and Claudia Zeisberger
November 2018News
Investors Looking to Delay Startup Exits due to COVID-19: Survey
By Vikas Aggarwal
AlKhalej Today
June 2020Exiting the Dragon: Examining Options for Returning Capital
by Ian Potter and Claudia Zeisberger
South China Morning Post
November 2018tryb Fintech and Limited Partner Survey
by Herston Powers
tryb Group
November 2018by Ian Potter and Claudia Zeisberger
INSEAD Knowledge
September 2018
Why Venture Capitalists Should Invest like Poker Players
by Kamal Hassan and Claudia Zeisberger
INSEAD KnowledgeJuly 2018
Tapping the Opportunities Offered by China Unicorns
by Khairani Afifi Noordin
The Edge Malaysia
July 2018
Will Late-Stage Venture Funding Pay Off?
by Bowen White
INSEAD Knowledge
September 2017The Double-Edged Sword of Being a Lean Start-up
by Vikas Aggarwal
INSEAD Knowledge
July 2017
Indian Start-ups Must Compete Without Protection, Says Deepak Shahdadpuri
by Joji Thomas Philip
Livemint
April 2017
Three Make-or-Break Factors for Tomorrow's Start-ups
by Philip Anderson
INSEAD Knowledge
December 2016Student Projects
KK Fund – Growth Strategy for VCs
by Max Sumargo, Ivanina Stoyanova, Grace Tham, Sky Song, Jacob John Kuttisseril, Charles Bernard
Corporate Innovation through Venture Building
by Alessandro Rampazzo
The Emerging Role of Venture Builders in Early-Stage Venture Funding
by Jonathan Bariller, Huub van Verseveld, Andrew Locke, Niel Wyma, Boris Spirov
China's Venture Capital: Bigger than Silicon Valley's?
by Ariel Lu, Jessie Chen, Frank Fu
Micro VCs: A Worthwhile Investment?
by Pasarn Intarangsi, Cristina Moldovan, Robin Szustkowski, Vivienne Xu
Featured Links
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Turnaround and Distressed Investing
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Turnaround and Distressed Investing
Our work in Corporate Turnarounds is centred on the Managing Corporate Turnarounds MBA elective. The course focuses on giving participants the opportunity to experience what it takes to turn around a company in a variety of cases, ranging from strategic turnarounds to deep-distress situations. Turnaround situations are relevant to managers even if they never end up in distress, as putting pressure on a system brings weaknesses to the surface and forces managers to sail sharp into the wind. It is no surprise that this elective has evolved since its launch in 2009 into one of the most popular courses in the INSEAD’s MBA programme.
This course introduces students to the challenges of managing critical turnaround situations in corporations globally. To consistently preserve shareholder value through the ups and downs of a business cycle, it is vital to understand the reasons why companies slide into decline and what the mechanics of executing a successful turnaround are. Naturally, the course builds on the earlier classes in the MBA programme and is a logical follow-on to courses in Entrepreneurship and Private Equity. It is particularly relevant for those who are interested in working with investors in struggling companies, the management of distressed assets or would like to pursue a career in turnaround management.
Students start their journey with eight in-class sessions with case studies and guest speakers from the industry. Once the theoretical foundations are in place, they test their skills in an intense computer-based simulation taught over a full weekend. The task: Rescuing a distressed car manufacturer by drawing on the management, finance and operational skills acquired in earlier classes. Participants face increasingly complex decisions impacting both their short-term liquidity and long-term value creation (or preservation). The challenge is to survive in the short run by generating enough cash to buy time to restructure and create a new future for the company. Depending on how well cash is managed in the early stages of the simulation, participants have more freedom in deciding on long-term financial and operational issues. A thorough debrief presents the learnings from the “winning” team’s strategy.
Work in this area is led by Nicholas Ward – Distinguished Fellow at GPEI.
Alumni in Turnarounds
Serial Entrepreneur & Turnaround Specialist
MBA'83J
Founder of Rumie Initiative, Investor & Turnaround expert
MBA'08J
News from the classroom
TURNAROUND now with Simulation
Publications
The Three Steps of Successful Turnarounds
By Claudia Zeisberger
INSEAD Knowledge
August 2015
Family Ties Help When Firms Go Bust
By Massimo Massa
INSEAD Knowledge
May 2015
By Matt Golosinski
INSEAD Alumni Magazine
April 2014
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Private Equity Real Estate
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Private Equity Real Estate
PE Real Estate is a mature sector providing investors with a large spectrum of investment opportunities. By crossing multiple criteria: geography, asset types, size, risk return profile, investors get access to both main stream investment like core office in Manhattan or niches, like student housing in Central Europe or Data warehouse in Sweden.
Like the overall economy, Real Estate is not only affected by economic trends, like financial crisis, but also by structural trends, like uberization, digitalization. The recent Covid-19 pandemic seems to gather both. Like in recent past, with the first Gulf War, the TMT Bubble crash, the subprime, once again, following the global economy, the real estate markets are significantly affected by an external crisis. Talking about retail and Hospitality “affected” is an euphemism. But the second impact of the pandemic is an acceleration of major evolutions, Darwinian adaptation that will produce durable change: on-line shopping supremacy, teleworking, renting vs. owning and responsible and earth caring investment.
GPEI decided to launch a PE RE initiative, led by Lahlou Khelifi – Distinguished Fellow at GPEI.
Alumni in Real Estate
Hans Hammer, Germany
CEO at Hammer AG, Member of the Munich City Council
MBA'98J
Omega Poole, UK
Partner, Head of Debt Advisory at Mishcon de Reya LLP
MBA'09J
Marc Le Borgne, France
Managing Partner at Fairlead Real Estate
MBA'87D
News from the Classroom
Syllabus of RE Elective
News
How COVID-19 Could Drive ESG Adoption in the Real Estate Industry
Preqin
June 2020
Resources
2020 EisnerAmper & Preqin Private Equity Real Estate Outlook
Preqin
October 2020
2020 Preqin Global Real Estate Report
Preqin
February 2020
2019 Private Equity Real Estate Market Outlook
EisnerAmper & Preqin
March 2019
2018 Preqin Global Real Estate Report
Preqin
January 2019
Preqin
March 2018
2017 Global Market Outlook: Trends in Real Estate Private Equity
Ernst & Young
2017
Global Market Outlook 2016: Trends in Real Estate Private Equity
Ernst & Young
2016
Global Market Outlook 2015: Trends in Real Estate Private Equity
Ernst & Young
2015
Student Projects
Real Estate Private Equity in Asia: Trends, Risks and Opportunities
By Charles Chen and Charul Patel
In the News

Investors Looking to Delay Startup Exits due to COVID-19: Survey

Boards and Value Creation

What Distinguishes Europe’s Family Business Champions from the Rest

INSEAD Publishes Research on Family-backed Enterprises in Europe
Upcoming Related Events
Webinars

26 April, 6pm CET

14 May 2020, 9pm CET

14 May 2020, 12pm CET

6 May 2020, 12pm CET

29 April 2020, 12pm CET
Faculty (MBA and Executive Education)
Vikas A. Aggarwal
Academic Director
[email protected]
Research and Outreach
Alexandra von Stauffenberg
Associate Director
[email protected]