©2013 INSEAD Case Study
Also available: Teaching Note
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.
Pedagogical 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.