Tuesday, June 25, 2013

Slalom to the Finish: Carlyle's Exit from Moncler

AGGARWAL Vikas A., ZEISBERGER Claudia, PRAHL Michael 
©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.