是时候重新思考私募股权尽职调查了

“Great news, everyone,” says Catherineto her deal team. “We’ve got the greenlight to bid for Bestportco. Our goal is todrive growth by expanding its operationsand incorporating add-on acquisitions.Competition’s fierce, so let’s get duediligence done quickly.”Two months later, the deal is closed, and the teambegins its value creation planning. Catherine callsanother meeting. “Congrats on our successful bid.However,” Catherine sighs, “our post-deal diagnosticsrevealed some surprising gaps. While we can expandBestportco’s product line, the operating platform isn’tready to scale cost-effectively. Also, its tech doesn’tlook like it can support any bolt-ons, so we’ll need toaddress the tech debt. I doubt the current leadershipteam has done this before, so we’ll need to find anexperienced Chief Transformation Officer.”Before the ink driesThe sharp contrast in deal outcomes “Our pre-deal diligence was too disconnectedfrom our investment thesis,” Catherine continues,“and we weren’t able to uncover enough in thelimited time we had. This can set us back by9-12 months, which could’ve been avoided.”Of course, this is a fictional example, but it’sa situation many deal teams are familiar with.According to a recent Accenture Research surveyof 251 private equity (PE) leaders, a vast majoritybelieves that high-quality due diligence directlycontributes to value creation. Despite this awareness,83% feel their current due diligence approach hassubstantial room for improvement. We believeit’s time to rethink PE due diligence ‘from riskassessment to value creation.’ This report explores exactly that: how, usingtechnology, firms can expand due diligencebeyond risk assessment to make it a springboardfor creating value. Leveraging analytics andgenerative AI can set deal teams apart—they canscrutinize more targets faster and better, engagein more deals and achieve higher exits.of PE leaders say theircurrent due diligenceapproach is suboptimal83%It’s time to rethink private equity due diligence About the authorsJay ScanlanRachel BartonSenior Managing Director,Global Lead, Private EquitySenior Managing Director,Strategy Lead, Private EquityJay serves as practice leadfor Accenture’s Private Equityclient service—across advisory,implementation and run-operatecapabilities—and is a member ofAccenture’s Global LeadershipCommittee.. He and his teamsupport private equity investors,operating professionals andportfolio company executives toassess, define and deliver valueto their limited partners. Jay isbased in Washington DC.Working with the largest globalbrands, Rachel advises businessleaders on how they can transformand create new growth—moving atspeed from strategy to execution.Within Accenture, she leads theglobal Strategy Private Equitybusiness, focused on maximizingvalue creation and positive impactfor funds and their portfoliocompanies. Rachel leads the EMEAmarket for Private Equity and isbased in London. Martin GlennManaging Director,Private EquityMartin brings a 25+ year trackrecord of leading the strategyand execution of majoroperations and technology changesthat drive impactful growth andvalue to private equity firms andtheir portfolio companies. He ispassionate about fostering businessgrowth via innovation and believesit’s important to challenge thestatus quo to get the best possibleoutcomes and returns for his clients.Martin is based in New York City. Himanshu PatneyPrincipal Director,Accenture ResearchHimanshu has wide experiencein corporate finance andvaluation. His work is focusedon building and implementingdiagnostic frameworks andmodels to better understandthe probable future financialimpact of today’s businessdecisions. He explores howorganizations generatelong-term value throughinnovative business models.Himanshu is based in Bangalore.It’s time to rethink private equity due diligence Neto AlexanderManaging Director,Private EquityNeto is a senior advisor experiencedin leading both corporate and privateequity clients through complexgrowth and margin improvementprograms. His particular area ofexpertise is in executing company-wide operating model transformationsfor tech-enabled services companiesduring M&A transactions andtake-private situations. Neto leadsthe North America market forPrivate Equity and is based inLos Angeles. The pre-deal phase isgetting more attentionWhat we seeDealmaking is gettingmore complex75%of leaders surveyed agree that PEinvestments have grown more complex—a 1.5x increase from our 2023 study.increase in mentions of due diligence,7.7x of sourcing and screening,and 3.8x of value creation plan inearnings calls and articles of PE firms.What’s on the horizon Leadership assessmentis criticalHolistic due diligenceis ever more important83%of respondents believe theircurrent due diligence approach hassubstantial room for improvement.of respondents spendconsiderable or extensiveamounts of time assessing theleadership of a target company.It’s time to rethink private equity due diligence Promising tech re