Acquisitions Strategy of Private Equity Funds in Taiwan

碩士 === 國立臺灣大學 === 國際企業學研究所 === 102 === The Private Equity Fund industry leads a boom of investments as a major player in the sixth merger waves since 2004. Under such circumstances, multiple merger and acquisition cases took place in Taiwan. To explore the impacts and driving forces behind this phen...

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Bibliographic Details
Main Authors: Pu-Chun Liu, 劉蒲駿
Other Authors: Ming-Je Tang
Format: Others
Language:zh-TW
Published: 2014
Online Access:http://ndltd.ncl.edu.tw/handle/26522184468092282356
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Summary:碩士 === 國立臺灣大學 === 國際企業學研究所 === 102 === The Private Equity Fund industry leads a boom of investments as a major player in the sixth merger waves since 2004. Under such circumstances, multiple merger and acquisition cases took place in Taiwan. To explore the impacts and driving forces behind this phenomenon, this thesis selects one influential private equity company, namely, The Carlyle Group, to explain acquisition strategy from both PE fund itself and corporate firm perspectives independently. The results show that, different acquisition strategies result from distinct targeted industries and business models. The Carlyle Group takes advantage of their professional research teams, excellent relationships among political connections and right timing, namely, make acquisitions when markets are down and transfer their ownership frequently. This article also discuss three private equity issue in the last, including their industry choices, business models and major controversy.