Value creation through operating improvements in portfolio companies : the case of 3G Capital
Name
958298122-MIT.pdf
Description
Full printable version
Size
17.13 MB
Format
Adobe PDF
Checksum (MD5)
9a1eef14a3cbfcf4bc1f032359e11cd1
Author(s)
Kamel, Philippe
Advisor(s)
Donald Sull.
Date Issued
2016
Publisher
Massachusetts Institute of Technology
Abstract
This thesis is an attempt to show how a group of three Brazilian businessmen were able to create a private equity firm (3G Capital) that has outperformed its competitors. We will first describe the evolution of the LBO industry, and explain why LBO firms are now forced to design new structures to support their portfolio companies in order to generate alphas that will boost their returns. 3G Capital will serve as an example proving that mastering operational engineering generates higher returns than top quartile competitors. We will then analyze the performance of three companies owned by the Brazilian trio, show that these companies have been able to outperform their peers since they were acquired and point out the key operational drivers that led to this performance. Eventually, based on the analysis of the portfolio companies, we will try to define the specificities of the 3G Playbook and study how it allowed its companies to consistently reach their goals.
Description
Thesis: S.M. in Management Studies, Massachusetts Institute of Technology, Sloan School of Management, 2016.
Cataloged from PDF version of thesis.
Includes bibliographical references (pages 101-103).
Subjects
Sloan School of Management.
MIT Department
Sloan School of Management
Terms of Use
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