a$)$ Explain how private equity has contributed to solving the sorting and incentive problems within investment practices.

b$)$ In the Australian context, discuss reasons why a potential acquirer may prefer to go through a scheme of arrangement rather than an outright acquisition of a target company.

c$)$ In relation to project finance topic, discuss:

i$.$ What are the principal areas of risk and how to reduce risk, distinguishing between the development phase, the construction phase and the operational phase

ii$.$ Project finance ownership structures, with reference to their advantages and disadvantages.