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VC Firms Still Expecting High ROIs

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In this video interview, John K. Paglia, PhD, Associate Professor of Finance at the Graziadio School of Business and Management, discusses the Pepperdine Private Capital Markets Project, which was released on July 27, 2009, in conjunction with a Los Angeles and California statewide economic forecast that Pepperdine partnered to deliver with Beacon Economics and the Los Angeles Area Chamber of Commerce. The study has been featured in the New York Times and the Wall Street Journal.

The Pepperdine Private Capital Markets Project provides insights into five private market segments: banks, asset-backed, mezzanine, venture capital, and private equity. Dr. Paglia, who authored the study, interviewed 627 lending and investment professionals in order to identify industry areas that attracted capital and to gauge participants’ outlook for each market segment. He found that private capital lenders anticipate that continued economic decline will increase demand for private investment and capital will be harder to come by in the near future; nevertheless, there remain high expectations for return on investment.

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Questions for Dr. Paglia

  1. Why is it important to understand private capital markets?
  2. Who benefits from the findings of the Pepperdine Private Capital Markets Project?
  3. What is the good news and bad news for private capital markets in your 12-month outlook?
  4. Looking beyond the numbers, how can lenders, capital providers, and private companies best use your findings?
  5. What is there still to learn about private capital markets?
  6. What’s next for the Pepperdine Private Capital Market Project?

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Author of the article
John K. Paglia, PhD
As Associate Dean, Dr. Paglia leads the design and delivery of evening and weekend business degree programs for working professionals, as well as oversees student recruitment for these programs and the school-wide marketing, communications, and public relations functions. He founded the award-winning Pepperdine Private Capital Markets Project for which he has been recognized by the Association for Corporate Growth with an “Excellence in M&A Award” in 2011 and the Alliance for Mergers & Acquisitions Advisors and Grant Thornton with a “Thought Leader of the Year Award” in 2012. Paglia is a frequent speaker on the topics of privately-held company cost of capital, valuation, access to capital, and financing and deal trends at valuation and M&A conferences. Dr. Paglia holds a Ph.D. in finance, an MBA, a B.S. in finance, and is a Certified Public Accountant and Chartered Financial Analyst.
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