Wall Street Financial Training in İstanbul

Location: [Hilton ParkSA]

Target Audience: Professionals and students in corporate finance, investment banking, private equity or venture capital

 

Prerequisites: Basic knowledge of Excel, finance and accounting, English fluency and a laptop with Microsoft Excel (preferably PC-based). Advanced Valuation requires previous valuation and modeling education and rigorous work experience.

AnEx Training (based in New York) is visiting Istanbul this February to offer several rigorous financial training programs and has partnered with Istanbul Institute of Finance to jointly market these programs. We have a shared vision of facilitating intensive hands-on courses that provide invaluable lessons in business and fina

nce. Nate Kline is the instructor for these upcoming programs; he has taught hundreds of students over the last 3 years and has 10 years of advanced finance and financial modeling experience on Wall Street. Along with teaching finance he is Managing Partner of Genuity Partners LLC, a Principal at Lifestage Partners LLC and a Vice President at Accordion Partners LLC. Courses: The chart below indicates the length, scheduled date and price of each program. Each day runs from 9:30am to 4:30pm with a 1 hour break from 12:30pm-1:30pm. Detailed outlines for each course have been provided on pages 4–7.

Courses

Days

Date

Price

Core Investment Banking/Financial Modeling Training

§ Accounting, consolidated financial statements, mergers and acquisitions, leveraged buyouts, valuation and excel shortcuts

5

3/2/14 -7/2/14

$2,499

Alternative Investments (Qualitative Overview of PE, Hedge Funds, Real Estate)

2

14/2/14 – 15/2/14

$1,599

Private Equity Overview (Qualitative)

1

14/2/14

$799

Hedge Fund Overview (Qualitative) - Morning

½

15/2/14

$399

Real Estate Overview (Qualitative) - Afternoon

½

15/2/14

$399

Advanced Valuation

1½

10/2/14 – 11/2/14

$999

Capital Budgeting & Project Evaluation

2

12/2/14 – 13/2/14

$1,599


Registration: There is limited space available and the deadline is January 31, 2014. Please contact [Muge (your version of brochure)/Nate (my version) for further information, registration or payment details – contact information is below.

Contact: Muge Duygun, This e-mail address is being protected from spambots. You need JavaScript enabled to view it , +90 212 322 0444 / Nate Kline, This e-mail address is being protected from spambots. You need JavaScript enabled to view it , +1 646 719 8738


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About the Instructor

Nate Kline is an experienced investment banking and private equity professional and active global real estate developer and investor who previously worked at Merrill Lynch and Fortress Investment Group in New York. In his career Nate has completed approximately $25 billion of M&A and principal transactions across a variety of sectors (Real Estate, Industrials, Chemicals, Consumer Products and Transportation) and worked on billions of dollars of debt financings in transportation and real estate. In addition to several previous cross-border transactions, Nate has been an advisor on a number of emerging markets transactions and has worked with clients and/or colleagues in 20 countries. A detailed review of this experience is provided on pages 8-9. Since 2010, Nate has worked with AnEx Training to conduct over 325 days of financial training programs for corporate and individual clients in 19 locations around the U.S. and the world including New York, London, Ankara, Dubai, Frankfurt, Shanghai and Zurich (approximately half outside New York).

About AnEx Training

Professionals in finance require a solid financial modeling background - particularly in today’s economy. AnEx Training offers comprehensive and invaluable financial modeling experience that is equivalent to training at a bulge bracket investment banks. We have been featured in Wall Street Journal, Forbes and Reuters articles and trained at over 100 firms including large and boutique financial institutions and Fortune 500 companies. More than a thousand students have participated in our programs over the years. We continue to be a leader in the training sector because:

§ Courses are taught by superior Wall Street professionals

§ Our approach is hands-on, allowing you to complete multiple financial models during the programs

§ Our trainers have sophisticated “bulge bracket” experience and instruct with real-world simulations

Past Clients/Student Placements
Companies - Bank of America, Blackstone, Citi, Credit Suisse, Goldman Sachs, HSBC, JPMorgan, Merrill Lynch, Morgan Stanley, NTF Inşaat, RBC Capital Markets, UBS
Universities ­- Boston, Columbia, Cornell, Duke, Emory, Harvard, Johns Hopkins, London Business School, London School of Economics,
New York, Penn State, U. of California, U. of Chicago, U. of Pennsylvania

About Istanbul Institute of Finance

IFE public training seminars cover a variety of financial disciplines with content that is meticulously prepared. Our dynamic trainers and partners, who are experts in their respective fields, act as facilitators in live discussions where each participant is urged to put forth his/her point of view.

Participating in an IFE seminar will allow you to learn the best practices in different organizations and regions. Our Training Seminars are far beyond simple lessons;

§ Our trainers offer more than corporate training

§ Our lessons are organized interactively with case studies

§ Our experts are utterly ambitious and experienced.

If you are thinking of taking your career to the next level, increasing your existing capabilities and/or expanding your personal knowledge base, IFE can help you achieve these goals.





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Core 5-Day Investment Banking/Financial Modeling Training

Outline


Day 1: Financial Statements/Standalone Model

§ Income Statement, Cash Flow Statement, Depreciation, Deferred Taxes, Working Capital

§ Start modeling exercise (includes excel tips and shortcuts throughout)

§ Balance Sheet, Cash Flow drives the Balance Sheet modeling theory

§ Fixing an unbalanced model

§ Debt Schedule

§ Finish modeling exercise

§ Capital raising scenarios (Debt and Equity)

Days 2-3: M&A

§ Basic accounting for acquisitions and divestitures

§ Asset acquisitions vs. Corporate ("Equity") acquisitions

§ Building a 1-page or "mini" merger model/Analyzing a deal
- Purchase Price, Sources & Uses
- Pro Forma Analysis & Adjustments (Synergies, Goodwill, etc.)
- Capital Structure/Deal Financing

§ Building a fully consolidated merger model
- Constructing Statements & Schedules
- Balance Sheet Adjustments


Day 4: LBOs

§ Accounting for LBOs; structure and design

§ Value creation theories

§ Deal process & financing

§ "Mini" LBO/Back of the envelope analysis

§ Key Drivers/Return Variables

§ Building a full LBO model

Day 5: Valuation

§ Introduction to Valuation Multiples

§ Public Comparables

§ Precedent Transactions (Acquisition Comparables)

§ Discounted Cash Flow Analysis (EBITDA & Perpetuity Methods)

§ WACC

§ Determination & Presentation of Valuation Matrix/Chart




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Alternative Investments

Outline


Day 1: Private Equity Overview

§ Private Equity Business Overview and History

§ Private Equity Process and Participants

§ Target Screening

§ Return Requirements and Discount Rates

§ Sources of Returns

§ Operational Improvements

§ Overview of Financing

§ Exit Strategies: “Harvesting” Returns

§ Trends in the Current Environment

§ Lessons from the Economic Crisis

Day 2, Morning: Hedge Fund Overview

§ Hedge Fund Business Overview and History

§ Hedge Fund Process and Participants

§ Fund Strategies and Returns

§ Trends in the Current Environment

§ Lessons from the Economic Crisis

Day 2, Afternoon: Real Estate Overview

§ Real Estate Business Overview and History

§ Real Estate Development/Acquisition Process and Participants

§ Sector Overviews/Characteristics

§ Investment Strategies and Analysis

§ Deal Structures and Returns

§ Trends in the Current Environment

§ Lessons from the Economic Crisis


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Advanced Valuation

Outline


Day 1: Private Equity/Hedge Fund Methodologies

§ NPV/IRR/DCF Theory, Derivation and Review

§ Implied perpetuity growth rates and EBITDA multiples in DCF analysis

§ Advanced WACC/CAPM

§ Unlevered and Levered Beta with Statistical Derivation

§ Risk-Adjusted NPV (“NPVR”)

§ Financial analysis using ratios – activity, liquidity, profitability, performance, DuPont analysis and common size statements

§ Earnings quality analysis

§ Common and preferred stock values – Present Value, dividend discount models, dividend yields and implied valuation multiples

§ Sum-of-the-Parts analysis – multiples approach

§ Market-based Net Asset Value (NAV) analysis for asset heavy companies such as leasing companies

§ Cash flow yields

§ Pre-money and post-money valuation for VCs/minority investment/private stock/IPOs

§ Credit ratios and valuation – solvency, credit and coverage

§ APV; distressed company/debt valuation


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Capital Budgeting & New Products/Services

Outline


Day 1: Financial Analysis and Modeling

§ Understanding Financial Statements

- Income Statement

- Cash Flow Statement

- Balance Sheet

§ Analyzing Financial Statements

- Linkages

- Accruals vs. Cash

- Basic Ratios/Metrics

§ Pro Forma Impacts

- P&L and cash flow changes due to project investments/spending

- Earnings Accretion/Dilution from project investments/spending (for public and private companies)

§ Modeling Theory & Best Practices

- Excel Functions and Shortcuts

- Assumptions (Drivers, Stats, Margins, Rates, Switches, Cases)

- Schedules

o Depreciation, Working Capital, Debt Schedule, Stock Schedule

- Cash Flow Drives the Balance Sheet

- Inputs/Outputs/Analysis

- Sensitivity

o 1 and 2 Variable Data Tables

o Multivariable Tables



Day 2: Financial & Quantitative Analysis of New Products/Services

§ Capital Budgeting Framework

- ROI, NPV, IRR, MIRR, Hurdle Rates, Payback, Discounted Payback, Profitability Index

§ Discounted Cash Flow Theory/Analysis (EBITDA & Perpetuity Methods)
Weighted-Average Cost of Capital (“WACC”)

- Cost of Equity

o CAPM, Implied Costs of Equity/Cash financing

- Cost of Debt

§ Risk-adjusted NPV (“NPVR”) using Probability Analysis

§ Expected Commercial Value (Option Theory)

§ Factor Modeling

§ Risk-Reward Bubble/Matrix

§ Assessment Scoring Model


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Instructor’s Deal Experience
2003 – Present


Nate Kline has been involved in the following M&A, private equity and financing transactions (note: excludes financings of portfolio companies):

Merrill Lynch – M&A
Completed Buy-side Deals (Announcement/Closing Dates)

§ Atlas Copco – Exclusive Buy-side Advisor; $225 million acquisition of Drilling Solutions Business from Ingersoll-Rand (February 2004/July 2004)

§ Access Industries – Lead Buy-side Advisor; €4.4 billion acquisition of Basell JV from BASF and Shell (May 2005/August 2005)

§ Henkel – Lead Financial Advisor; $2.8 billion share exchange/cash-rich split-off with Clorox (October 2004/November 2004)

Completed Sell-side Deals (Announcement/Closing Dates)

§ Candlewood Hotels – Exclusive Restructuring/Sell-side Advisor; $105 million sale of 12 hotels, the “Candlewood Suites” brand and franchise agreements to InterContinental Hotels & Resorts (October 2003/January 2004)

§ Chelsea Property Group – Exclusive Sell-side Advisor and Fairness Opinion; $4.9 billion sale to Simon Property Group (June 2004/October 2004)

Fairness Opinion (Announcement/Closing Date)

§ Performance Food Group – Rendered Fairness Opinion in $855 million sale of Fresh Express business to Chiquita Brands (February 2005/June 2005)


Fortress Investment Group – Private Equity

Completed Deals (Announcement/Closing Dates)
Responsible for initial investment, asset management and add-on acquisitions/investments

§ Carlisle Leasing International – $1 billion acquisition of marine container lessor (December 2005/January 2006)

§ Seacastle Operating – significant equity committed to containership chartering startup (September 2006)

§ RailAmerica – $1.1 billion acquisition of 42 short line railroads – (November 2006/February 2007)

§ Interpool – $2.4 billion acquisition of intermodal chassis and marine container lessor (April 2007/July 2007)

§ Florida East Coast Industries – $3.5 billion acquisition of regional railroad operator and real estate developer (May 2007/July 2007)

§ Seacastle – Merger of Carlisle, Interpool and Seacastle Operating (June 2007)

Bids (initial or multiple bids placed but transaction not consummated)

§ 9 deals worth in excess of $10 billion combined – 2 equipment leasing/rental companies, 2 port operators, 2 marine container lessors, an LPG business, a behavioral healthcare treatment facility/clinic operator and a nationally franchised chain of quick service restaurants

Negotiations Entered (but deals not consummated)

§ 5 deals worth in excess of $6 billion combined – 3 marine container lessors, a containership charterer and an LNG shipping JV

Exploratory Transactions (valuation work, basic diligence, etc.)

§ Over 20 publicly-traded oil tanker, dry bulker, containership, LNG, chemical or diversified ship owners

§ Dozens of used and new, individual or multi-asset tanker and containership acquisitions

§ Several privately-owned shipping fleets, drill rigs and ship financing/partnerships

§ An emerging market port operator/engineering firm

§ A refrigerated warehouse operator

§ A marine container lessor in a bankruptcy/restructuring situation

Independent Consultant

Financing Advisory/Deal Consultant (chronologically, most recent last)

§ Ethiopian joint venture – $100 million farm privatization

§ Indian microfinance – $12 million private equity and debt raise

§ Nigerian biofuels – $45 million private equity raise for $150 million project

§ Bulgarian metals – $200 million private equity and debt raise

§ Canadian lead-zinc miner – $10 million acquisition/$30 million project financing

§ U.S. medical services business – corporate model for $50 million public company

§ U.S. management consulting – LBO model/advisory for $500 million public company

Real Estate

§ Investment in a $10 million assisted-living facility

§ Potential $40 million acquisition and redevelopment of a student housing and retail/mixed-use complex

§ $27 million townhome and single-family residential development


Site Mahallesi, Kerim Sokak No: 27/14 Ümraniye 34760 - İSTANBUL- TÜRKİYE

+90 212 322 0444 - +90 850 302 0433

e mail: customer [@] istanbulinstituteoffinance.com