Private Equity
Opportunities and Risks
Published on 20. August 2015
Book
Hardback
624 pages
978-0-19-937587-5 (ISBN)
Description
During the past few decades, private equity (PE) has attracted considerable attention from investors, practitioners, and academicians. In fact, a substantial literature on PE has emerged. PE offers benefits for institutional and private wealth management clients including diversification and enhancement of risk-adjusted returns. However, the lack of transparency, regulatory restrictions, and liquidity concerns that exist for some PE options limit their attractiveness for some investors.
Private Equity: Opportunities and Risks offers a synthesis of the theoretical and empirical literature on PE in both emerging and developed markets. The book examines PE and provides important insights about topics such as major types of PE (venture capital, leveraged, buyouts, mezzanine capital, and distressed debt investments), how PE works, performance and measurement, uses and structure, and trends. Readers can gain an in-depth understanding about PE from academics and practitioners from around the world.
Private Equity: Opportunities and Risks provides a fresh look at the intriguing yet complex subject of PE. A group of renowned experts take readers through the core topics and issues of PE, and also examine the latest trends and cutting-edge developments in the field. Additionally, discussion of research on PE permeates the book. The coverage extends from discussing basic concepts and their application to increasingly complex and real-world situations. Thus, this volume spans the gamut from theoretical to practical, while offering a useful balance of detailed and user-friendly coverage. This fresh and intriguing examination of PE is essential reading for anyone hoping to gain a better understanding of PE, from seasoned professionals to those aspiring to enter the demanding world of finance.
Private Equity: Opportunities and Risks offers a synthesis of the theoretical and empirical literature on PE in both emerging and developed markets. The book examines PE and provides important insights about topics such as major types of PE (venture capital, leveraged, buyouts, mezzanine capital, and distressed debt investments), how PE works, performance and measurement, uses and structure, and trends. Readers can gain an in-depth understanding about PE from academics and practitioners from around the world.
Private Equity: Opportunities and Risks provides a fresh look at the intriguing yet complex subject of PE. A group of renowned experts take readers through the core topics and issues of PE, and also examine the latest trends and cutting-edge developments in the field. Additionally, discussion of research on PE permeates the book. The coverage extends from discussing basic concepts and their application to increasingly complex and real-world situations. Thus, this volume spans the gamut from theoretical to practical, while offering a useful balance of detailed and user-friendly coverage. This fresh and intriguing examination of PE is essential reading for anyone hoping to gain a better understanding of PE, from seasoned professionals to those aspiring to enter the demanding world of finance.
Reviews / Votes
"Private Equity has been the subject of a great deal of criticism and concern, especially in the wake of the financial crisis. Because it involves private ownership instead of public listing of securities, many of the industry's practices and features remain shrouded in mystery. This book provides a broad, yet thorough, synthesis of the key issues of concern to investors, policy makers and academics alike. The book is a great resource for anyone who wants to gain a broad understanding of the past, present and future of the industry." David T. Robinson, Professor of Finance and J. Rex Fuqua Distinguished Professor of International Management, Fuqua School of Business, Duke UniversityMore details
Other editions
Additional editions
E-Book
06/2015
1st Edition
OUP eBook
€65.49
Available for download
E-Book
01/2015
1st Edition
Oxford University Press, USA
€82.99
Available for download
Persons
H. Kent Baker is a University Professor of Finance in the Kogod School of Business at American University. Professor Baker has authored or edited 24 books and has published more than 150 refereed articles in such journals as the Journal of Finance, Journal of Financial and Quantitative Analysis, Financial Management, Financial Analysts Journal, and Journal of Portfolio Management. He has consulting and training experience with more than 100 organizations.
Greg Filbeck is a Samuel P. Black III Professor of Finance and Risk Management at Penn State Erie, the Behrend College and serves as Associate Director and Department Chair of Finance & Economics for the Black School of Business. Professor Filbeck has authored or edited seven books and published more than 75 refereed academic journal articles appearing in such journals as the Financial Analysts Journal, Financial Review, and Journal of Business, Finance, and Accounting.
Halil Kiymaz is Bank of America Professor of Finance in the Crummer Graduate School of Business at Rollins College. Professor Kiymaz has published more than 70 articles in scholarly and practitioner journals and co-edited three books. His research has appeared in such journals as the Journal of Banking and Finance, Financial Review, Global Finance Journal, Journal of Applied Finance, Journal of Economics and Finance, and Review of Financial Economics. Professor Kiymaz also serves on the editorial board of four journals and is the area editor of the International Journal of Emerging Markets. He has consulting and training experience with various organizations.
Greg Filbeck is a Samuel P. Black III Professor of Finance and Risk Management at Penn State Erie, the Behrend College and serves as Associate Director and Department Chair of Finance & Economics for the Black School of Business. Professor Filbeck has authored or edited seven books and published more than 75 refereed academic journal articles appearing in such journals as the Financial Analysts Journal, Financial Review, and Journal of Business, Finance, and Accounting.
Halil Kiymaz is Bank of America Professor of Finance in the Crummer Graduate School of Business at Rollins College. Professor Kiymaz has published more than 70 articles in scholarly and practitioner journals and co-edited three books. His research has appeared in such journals as the Journal of Banking and Finance, Financial Review, Global Finance Journal, Journal of Applied Finance, Journal of Economics and Finance, and Review of Financial Economics. Professor Kiymaz also serves on the editorial board of four journals and is the area editor of the International Journal of Emerging Markets. He has consulting and training experience with various organizations.
Editor
University Professor of Finance and Kogod Research ProfessorUniversity Professor of Finance and Kogod Research Professor, Kogod School of Business, American University, Washington DC
Samuel P. Black III Professor of Finance and Risk ManagementSamuel P. Black III Professor of Finance and Risk Management, Penn State Erie, The Behrend College, Erie, PA
Bank of America Professor of FinanceBank of America Professor of Finance, Crummer Graduate School of Business, Rollins College, Winter Park, FL
Content
Part I Introduction 1. Private Equity: An Overview H. Kent Baker, Greg Filbeck, and Halil Kiymaz 2. The Economics of Private Equity: Background and Benefits Shantanu Dutta, Arup Ganguly, and Lin Ge 3. Private Equity in the United States and Europe: Market and Regulatory Developments Alexandros Seretakis Part II Major Types of Private Equity 4. Venture Capital in Europe: Myths and Reality Jean-Michel Sahut and Eric Braunne 5. Leveraged Buyouts Christian Rauch and Marc P. Umber 6. Mezzanine Capital and Commercial Real Estate J. Dean Heller 7. Distressed Investments Stephen G. Moyer and John D. Martin Part III How Private Equity Works 8. Valuing Private Equity Harlan Platt and Emery Trahan 9. Cost of Capital for Private Equity Alain Coen and Aurelie Desfleurs 10. Liquidity Issues in Private Equity: Lessons Learned in the Post-Financial Crisis Elif Akben Selcuk and Ayse Altiok Yilmaz 11. Private Equity Portfolio Management: Challenges, Approaches, and Implementation Thomas Meyer and Tom Weidig 12. The Role of Private Equity in IPOs: The Case of Venture Capital Firms Shantanu Dutta, Arup Ganguly, and Lin Ge 13. Exit Strategies in Private Equity Didier Folus and Emmanuel Boutron Part IV Performance and Measurement 14. Historical Performance of Private Equity: Cross-Country Evidence Kenneth Small and Jeff Smith, 15. Benchmark Biases in Private Equity Performance Robert Spliid 16. Return Persistence: Finding a Top Quartile Manager Adrian Oberli 17. Private Equity Due Diligence Manu Sharma and Esha Prashar Part V Private Equity: Uses and Structure 18. Institutional Investors and Private Equity Parvez Ahmed 19. Private Equity and Value Creation Peter Harbula 20. Compensation Structure Ji-Woong Chung 21. Global Regulatory and Ethical Framework Henry Ordower Part VI Trends in Private Equity 22. Private Investment in Public Equity Na Dai 23. Listed Private Equity Douglas Cumming, Grant Fleming, and Sofia Johan 24. Private Equity Growth in International and Emerging Markets Alexander Peter Groh 25. Diversification Benefits of Private Equity Funds-of-Funds Alex Buchner and Markus Kuffner 26. Publicly Traded Private Equity Henry Lahr 27. The Future of Private Equity: A Global Perspective Dianna Preece