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Private Companies
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featured insight
Drawing on insights from our work and interactions with directors and business leaders over the past 12 months, we’ve highlighted seven items for boards of private companies to consider as they focus their 2019 agendas on the critical challenges at hand and on the road ahead.
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Recent issues
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Defining ESG metrics that matter for private equity portfolio companies
While the impact on private company boards, management, operations, and disclosure varies—and largely dependent on ownership—a shift is apparent in how institutional investors are directing capital and increasing expectations for private company reporting on ESG.
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The portfolio company lead director
The private equity portfolio company lead director can be key to building board agendas, serving as a mentor to the CEO, and leading oversight of strategy development and execution.
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Portfolio company board effectiveness survey
The KPMG Board Leadership Center is conducting a survey focused on board effectiveness for portfolio companies owned by private equity and venture capital investors as well as family offices and individuals.
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On the 2019 private company board agenda
Drawing on insights from our work and interactions with directors and business leaders over the past 12 months, we’ve highlighted seven items for boards of private companies to consider as they focus their 2019 agendas on the critical challenges at hand and on the road ahead.
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Directors Quarterly: October 2018
In this edition, we looked at trends in board leadership, two emerging areas of focus for lead directors, how young and growing companies may benefit from using a matrix for board building, and more.
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Matrix thinking
For young and growing companies, particularly those backed by venture capital funds, board building is often more informal and less strategic. Yet a long-term approach to building a strong board as the company grows can make a difference.
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Getting ahead of sexual harassment risk
Discussion about board oversight of sexual harassment issues often comes up only after public allegations have thrown the company into crisis.
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Getting a start-up CFO up to speed
For a CFO of a new start-up company, this is a time of tremendous opportunity. Roles and responsibilities are being formalized, processes and controls are being implemented, and cultures and capabilities are being transformed.
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Accounting for growth
As an increasing number of firms are driven by intangible, knowledge-based assets and are more frequently funded through private investors, accounting choices are expected to play a more significant role in a company’s success.
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Expediting the CEO assessment
Given the expected five- to seven-year holding period for portfolio companies, boards may be able to avoid having to make a switch in two years by being more proactive in assessing the CEO early in the ownership period.
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Diversifying portfolio company boards
Diversifying the composition of private-equity portfolio company boards is a significant challenge, yet opportunties to change are just as abundant for these firms as they are public company boards.
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Building a foundation for growth: Governance in investor-owned private companies
In collaboration with the KPMG Board Leadership Center, the National Association of Corporate Directors has produced Building a Foundation for Growth: Governance in Investor-Owned Private Companies.
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The challenge of managing investors and time horizons at a private company
Conflicting views aren't always counterproductive and, in fact, can contribute to an engaging and robust discussion.
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After the jobs act: The impact on private companies
Three years after the JOBS Act was signed into law, we talk with Kate Mitchell, partner and cofounder at Scale Venture Partners, about the impact on private companies and their governance.developments.
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Why good governance attracts investors
In a start-up climate that is becoming more attuned to company culture, many venture investors we work with say that a working knowledge of corporate governance for early-stage company founders is a critical factor for funding negotiations
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Taking off the jobs act training wheels
Nearly 90 percent of U.S. companies that have gone public since the Jumpstart Our Business Startups (JOBS) Act was passed have taken advantage of the Act’s reduced disclosure provisions.
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Exceptional private boards get the basics right
Without a regulator or stock exchange to impose oversight guidelines, private companies often “write their own rules” when it comes to governance.
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Culture as a blindspot: transparency in the private company boardroom
For all its focus on the business and the marketplace, the board itself can be vulnerable to its own blind spot: boardroom culture.
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A stakeholder-centric approach to private equity investment
Sunny Vanderbeck, a managing partner and co-founder of Dallas-based Satori Capital, is trying to prove that a stakeholder-centric approach to private equity investing can generate returns at or above market expectations.
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Building and maintaining the “right” board
Getting board composition right is a challenge no matter the company size or ownership structure. Many private companies, however, face a different set of challenges than those encountered by their public company counterparts.
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A delicate balancing act for private equity portfolio company directors
For former executives, the transition from managing a company on a day-to-day basis to serving on a board can be difficult. This is especially challenging at private equity (PE) portfolio companies where the dividing line between C-suite and boardroom is often porous by design.
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Sustaining a successful family business
How does a director successfully govern a family business as both the family and the business evolve? It’s a critical question and an ongoing challenge for every family-run company, and one that Joseph Kanfer, the chair and CEO of GOJO Industries, and his daughter Marcella Kanfer Rolnick, who serves as vice chair, are intensely focused on.
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To avoid the spotlight, focus on controls
On November 2, 2015, Congress enacted legislation that fundamentally changes the landscape of partnership audits.
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New law creates new risks for partnership investments
On November 2, 2015, Congress enacted legislation that fundamentally changes the landscape of partnership audits.
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Private company governance survey
Getting beyond the so-called private company discount requires a hard look at governance structures and processes, financial controls, and conflicts of interest. Read the survey report from Forbes Insights and KPMG Private Markets Group.