Exit
Occurs when a financial institution, such as private equity firm or venture capitalist realizes its investment in a company. This is usually achieved by selling its stake to a trade buyer or another financial buyer, or by floating the company on the stock exchange.
Buyout
The purchase of a company's shares in which the acquiring party gains controlling interest of the targeted firm.
Secondary buyout
A deal that represents an exit for a buyout to another private equity backed vehicle.
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