Fully revised and updated to reflect changes in the private equity sector
Building on and refining the content of previous editions, Introduction to Private Equity, Debt and Real Assets, Third Edition adopts the same logical, systematic, factual and long-term perspective on private markets (private equity, private debt and private real assets) combining academic rigour with extensive practical experience.
The content has been fully revised to reflect developments and innovations in private markets, exploring new strategies, changes in structuring and the drive of new regulations. New sections have been added, covering fund raising and fund analysis, portfolio construction and risk measurement, as well as liquidity and start-up analysis. In addition, private debt and private real assets are given greater focus, with two new chapters analysing the current state of these evolving sectors.
Reflects the dramatic changes that have affected the private market industry, which is evolving rapidly, internationalizing and maturing fast
Provides a clear, synthetic and critical perspective of the industry from a professional who has worked at many levels within the industry
Approaches the private markets sector top-down, to provide a sense of its evolution and how the current situation has been built
Details the interrelations between investors, funds, fund managers and entrepreneurs
This book provides a balanced perspective on the corporate governance challenges affecting the industry and draws perspectives on the evolution of the sector.
TABLE OF CONTENTS -- Acknowledgements ix -- About the Author xi -- Introduction 1 -- Part I What are Private Equity, Private Debt and Private Real Assets? -- Chapter 1 Private Equity as an Economic Driver: An Historical Perspective 15 -- Chapter 2 Modern Private Equity A French Invention? 39 -- Part II The Private Markets Ecosystem --Chapter 3 Private Markets: A Business System Perspective 85 --Chapter 4 The Universe of Investment 145 --Chapter 5 The Process of Investment: A Matter of Trust and Mutual Interest 245 --Part III Private Markets in Teenage Time: Trend Setting, Fads and Responsibilities --Chapter 6 Private Markets Evolution: Trends or Buzzes? 267 --Chapter 7 Private Equity and Ethics: A Culture Clash 287 --Chapter 8 General Conclusion: Private Markets Today and Tomorrow 309 -- Template 1 (Fund): Architecture of the Private Placement Memorandum of a Private Equity Fund 329 -- Template 2 (Fund): Structure of a Limited Partnership Agreement 331 -- Template 3 (Fund): Due Diligence Checklist 335 -- Template 4 (Fund): Quarterly Report Template 339 -- Template 5 (Company): Non-Disclosure Agreement 343 -- Template 6 (Company): Business Plan 347 -- Template 7 (Company): Term Sheet 353 -- Business Case: Kroton Educacional SA A Private Equity Operation Can Hide Another One 363 -- Exhibits 379 -- Glossary 389 -- Bibliography 425 -- Index 4460.
