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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.
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.
CYRIL DEMARIA is a Partner and Head of private markets at Wellershoff & Partners, an independent CIO service provider for family offices and financial institutions. A private equity expert combining academic expertise and practical experience, his extensive knowledge of the asset class spans more than 20 years during which he has notably held positions at the Chief Investment Office of UBS, where he was in charge of private markets research (buy-side). He is the founder and managing partner of two venture capital funds. He is also an Affiliate Professor at EDHEC and lectures at top academic institutions such as HEC Paris, EADA, and ESCP-Europe. He is an expert and a trainer for leading private equity associations such as Invest Europe, France Invest and SECA, and has authored best-selling books, such as Introduction to Private Equity which has been translated in multiple languages, and Private Equity Fund Investments.
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 439
Erscheinungsjahr: | 2020 |
---|---|
Fachbereich: | Betriebswirtschaft |
Genre: | Wirtschaft |
Rubrik: | Recht & Wirtschaft |
Medium: | Buch |
Inhalt: | 464 S. |
ISBN-13: | 9781119537380 |
ISBN-10: | 111953738X |
Sprache: | Englisch |
Einband: | Gebunden |
Autor: | Demaria, Cyril |
Auflage: | 3rd edition |
Hersteller: | Wiley |
Maße: | 250 x 175 x 29 mm |
Von/Mit: | Cyril Demaria |
Erscheinungsdatum: | 15.06.2020 |
Gewicht: | 0,979 kg |
CYRIL DEMARIA is a Partner and Head of private markets at Wellershoff & Partners, an independent CIO service provider for family offices and financial institutions. A private equity expert combining academic expertise and practical experience, his extensive knowledge of the asset class spans more than 20 years during which he has notably held positions at the Chief Investment Office of UBS, where he was in charge of private markets research (buy-side). He is the founder and managing partner of two venture capital funds. He is also an Affiliate Professor at EDHEC and lectures at top academic institutions such as HEC Paris, EADA, and ESCP-Europe. He is an expert and a trainer for leading private equity associations such as Invest Europe, France Invest and SECA, and has authored best-selling books, such as Introduction to Private Equity which has been translated in multiple languages, and Private Equity Fund Investments.
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 439
Erscheinungsjahr: | 2020 |
---|---|
Fachbereich: | Betriebswirtschaft |
Genre: | Wirtschaft |
Rubrik: | Recht & Wirtschaft |
Medium: | Buch |
Inhalt: | 464 S. |
ISBN-13: | 9781119537380 |
ISBN-10: | 111953738X |
Sprache: | Englisch |
Einband: | Gebunden |
Autor: | Demaria, Cyril |
Auflage: | 3rd edition |
Hersteller: | Wiley |
Maße: | 250 x 175 x 29 mm |
Von/Mit: | Cyril Demaria |
Erscheinungsdatum: | 15.06.2020 |
Gewicht: | 0,979 kg |