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Slalom to the Finish: Carlyle's Exit from Moncler

Published 24 Jun 2013
Reference 5969
Industry Capital Markets
Region Europe
Summary

In 2011, Carlyle is considering an exit from its investment in the European fashion brand Moncler, in which it holds a minority stake. The case focuses on the complexities of preparing and executing an exit under rapidly changing market conditions taking varied interests and potential outcomes into consideration.

Teaching objectives

To evaluate various exit options for a PE firm and discuss how optionality and negotiation leverage in a sales process can be created and maintained. To demonstrate how PE firms make decisions under uncertainty and time constraints taking a variety of financial and non-financial factors into account.

Keywords
  • Private Equity
  • Exit
  • IPO
  • Dual Track
  • Buy-out
  • Minority
  • Carlyle
  • Moncler
  • Q41213
  • GPEI
  • GPEI-Case
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