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Portfolio Management Special by Private equity is already well known for its focus on cash. But when sales are down, and new finance a precious commodity,
it is essential that every last drop of working capital is squeezed from investee companies.
When smoothing over a transition period
in a successful firm, interim managers can
be important. But during a recession, as
portfolio company valuations plummet, bringing in an experienced head who is unafraid to make tough decisions could be the difference between financial freefall or a soft landing.