**Mastering Private Equity - Second Edition: Navigating New Horizons in Private Markets** Mastering Private Equity, the definitive guide to private equity (PE) since 2017, has been fully updated to reflect the current state of the industry, the latest market data, and the innovation reshaping the private capital industry. Written for a professional audience, the Second Edition of Mastering Private Equity is a valuable and unique reference for investors, finance professionals, students, and business owners looking to engage with PE firms or invest in PE funds. **What's New** While preserving…mehr
**Mastering Private Equity - Second Edition: Navigating New Horizons in Private Markets** Mastering Private Equity, the definitive guide to private equity (PE) since 2017, has been fully updated to reflect the current state of the industry, the latest market data, and the innovation reshaping the private capital industry. Written for a professional audience, the Second Edition of Mastering Private Equity is a valuable and unique reference for investors, finance professionals, students, and business owners looking to engage with PE firms or invest in PE funds. **What's New** While preserving its core focus on education, the Second Edition highlights the latest industry developments, including: * A more measured and resilient Venture Capital space, following steep repricing of risk in 2021 and 3x increase in downrounds in 22-23 * the rapid expansion of Private Debt, catalysed by a high-interest rate environment and the strategy's edge in a traditional fixed income portfolio * Buy-and-Build Strategies, and PE investor's ability to create category leading businesses and grow platforms via acquisition * PE Secondaries are de jour, as the market delivered liquidity in an inflationary and low exit environment * the step-change in responsible and impact investing, from "interesting" in 2017 to "essential" in 2025 * the Democratization of Private Capital, introducing high-net-worth individuals to the asset class Join the authors and two dozen senior industry contributors for a masterclass on the essentials of private equity and the trends driving the industry's sustained growth.
Claudia Zeisberger, Singapore, is one of the best networked figures in the private capital space, combining her academic expertise with over 35 years of experience in financial markets. As an advisor and angel investor, she partners with boards and leadership teams to drive growth and scale startups. A professor at INSEAD, a top-ranked business school with campuses in Singapore, France, the US and the UAE, she is a global citizen, an award-winning author and a trusted advisor to corporations, institutional investors and governments. In her role as a "Professional Devil's Advocate," she frequently provides independent perspectives on investment and risk-related decisions. Bowen White, Singapore, has spent his 20-year career in alternative investments, the last 6 years of which he led the quantitative and risk management function in Singapore at Partners Group-a global private markets investment manager. He has deep functional expertise in multi-asset class private market risk and portfolio management and contributed to top-down investment strategy while with the firm. Prior to Partners Group, Bowen served as the Center Director of INSEAD's PE Center and started his career in the New York hedge fund industry in trading and business development roles. Michael Prahl, Leipzig, Germany is Adjunct Professor of Entrepreneurship & Family Enterprise at INSEAD. An INSEAD alumnus, Michael served as the first Executive Director of the school's PE Center, with research interests in the areas of co-investment, family offices and market entry strategies and portfolio allocation for limited partners. Michael has been teaching the popular MBA Leveraged Buyout elective for over a decade and regularly participates as a lecturer in the Executive MBA program.
Inhaltsangabe
List of Contributors vii Foreword ix Preface to the Second Edition xiii How to Use the Second Edition of This Book xv Section I Private Equity Overview 1 Chapter 1 Private Equity Essentials 5 Chapter 2 Venture Capital 21 Chapter 3 Growth Equity 39 Chapter 4 Buyouts 51 Chapter 5 Alternative Private Market Strategies 65 Section II Doing Deals in PE 77 Chapter 6 Deal Sourcing & Due Diligence 81 Chapter 7 Target Valuation 95 Chapter 8 Deal Pricing Dynamics 107 Chapter 9 Deal Structuring 119 Chapter 10 Transaction Documentation 131 Section III Managing PE Investments 143 Chapter 11 Corporate Governance 147 Chapter 12 Securing Management Teams 159 Chapter 13 Operational Value Creation 173 Chapter 14 Responsible Investing & Sustainability 189 Chapter 15 Exit 203 Section IV Fund Management and the GP-LP Relationship 215 Chapter 16 Fund Formation 219 Chapter 17 Fundraising 233 Chapter 18 LP Portfolio Management 245 Chapter 19 Performance Measurement & Reporting 261 Chapter 20 Winding Down a Fund 277 Section V The Evolution of PE 285 Chapter 21 LP Direct Investment 289 Chapter 22 Listed Private Equity 299 Chapter 23 Risk Management 311 Chapter 24 Private Equity Secondaries 323 Chapter 25 Private Debt 337 Chapter 26 Long & Short: Evergreen Funds & Retail Investors 351 Acknowledgments 363 About the Authors 365 Glossary 367 Index 379
List of Contributors vii Foreword ix Preface to the Second Edition xiii How to Use the Second Edition of This Book xv Section I Private Equity Overview 1 Chapter 1 Private Equity Essentials 5 Chapter 2 Venture Capital 21 Chapter 3 Growth Equity 39 Chapter 4 Buyouts 51 Chapter 5 Alternative Private Market Strategies 65 Section II Doing Deals in PE 77 Chapter 6 Deal Sourcing & Due Diligence 81 Chapter 7 Target Valuation 95 Chapter 8 Deal Pricing Dynamics 107 Chapter 9 Deal Structuring 119 Chapter 10 Transaction Documentation 131 Section III Managing PE Investments 143 Chapter 11 Corporate Governance 147 Chapter 12 Securing Management Teams 159 Chapter 13 Operational Value Creation 173 Chapter 14 Responsible Investing & Sustainability 189 Chapter 15 Exit 203 Section IV Fund Management and the GP-LP Relationship 215 Chapter 16 Fund Formation 219 Chapter 17 Fundraising 233 Chapter 18 LP Portfolio Management 245 Chapter 19 Performance Measurement & Reporting 261 Chapter 20 Winding Down a Fund 277 Section V The Evolution of PE 285 Chapter 21 LP Direct Investment 289 Chapter 22 Listed Private Equity 299 Chapter 23 Risk Management 311 Chapter 24 Private Equity Secondaries 323 Chapter 25 Private Debt 337 Chapter 26 Long & Short: Evergreen Funds & Retail Investors 351 Acknowledgments 363 About the Authors 365 Glossary 367 Index 379
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