Alternative Investment

Alternative Assets - Part 3 (2022)


This eCourse consists of three modules. Module 1 describes the key features of the modern Private Equity (PE) industry, focusing on the private equity lifecycle, the different forms of private equity, and the methods of measuring private equity performance, and regulatory and disclosure requirements in the PE market.

Module 2 looks at the how a PE identify an ideal target company and the stages it needs to go through to realise its investment. We also examine the structuring of the transaction and the exit mechanisms.

Module 3 looks at the key characteristics of private debt and the strategies employed by private debt funds. The development of the private debt market and the current trends are also explored in detail.


On completion of this tutorial, you will be able to:

- Identify the key features of private equity
- Recognise the investment process and the key participants in that process
- Define the key private equity performance measurement metrics
- Identify the qualities of an ideal investment target
- Define the various stages in investing in a target company
- Recognise the importance of target valuation and achieving an optimal capital structure when structuring a deal
- Identify the typical holding period for a PE investment and the exit mechanisms available to the PE firm
- Recognise the relationship between private debt and private equity
- Identify the key stages in the development of the private debt market, including the effects of quantitative easing, extreme market volatility, and illiquid interbank markets
- List the main features of private debt: covenants, leverage, and repayment
- Identify the key private debt fund strategies and the main skills of private debt fund managers


Module 1: Private Equity - An Introduction
Topic 1: Overview of Private Equity
Topic 2: Investing in Private Equity
Topic 3: Measures of Return
Topic 4: Regulation & Disclosure

Module 2: Private Equity - Investing
Topic 1: Investment Targets
Topic 2: Investing in a Target Company
Topic 3: PE Investment Process
Topic 4: Target Valuation & Deal Structuring
Topic 5: Holding Period & Exits

Module 3: Private Debt
Topic 1: Overview of Private Debt
Topic 2: Market Development & Trends
Topic 3: Features of Private Debt
Topic 4: Private Debt Funds


Relevant Subject
Type 1 - Dealing in securities
Type 4 - Advising on securities
Type 6 - Advising on corporate finance
Type 9 - Asset management
SFC:2.50, PWMA:2.50
All Member: HK$765
Staff of Corporate Member: HK$765
Non-Member: HK$1115