Private Equity 4.0 : Reinventing Value Creation

A multi-perspective look at private equity's inner workings Private Equity 4.0 provides an insider perspective on the private equity industry, and analyzes the fundamental evolution of the private equity asset class over the past 30 years, from alternative to mainstream. The book provides insightful interviews of key industry figures, and case studies of some of the success stories in the industry. It also answers key questions related to strategy, fund manager selection, incentive mechanisms, performance comparison, red flags in prospectuses, and more. Private Equity 4.0 offers guidance for t

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Year of publication:	2015
Authors:	Leleux, Beno?t
Other Persons:	van Swaay, Hans (contributor) ; Megally, Esmeralda (contributor)
Publisher:	Hoboken : Wiley
Subject:	Private Equity \| Private equity \| Betriebliche Wertschöpfung \| Value creation \| Übernahme \| Takeover \| Kapitalbeteiligung \| Equity participation
Description of contents:	Table of Contents [gbv.de]

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Extent:	Online-Ressource (289 p)
Series:	The Wiley Finance Series Wiley Finance Series The Wiley Finance Ser.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Description based upon print version of record Private Equity 4.0; Contents; List of case studies; About the authors; Professional acknowledgments; Personal acknowledgments; Foreword; Introduction; Private equity at the crossroads; An historical perspective to gain insights for the future; Private equity: all about people; The best capitalism has to offer? The conceptual groundings; Empowering and incentivizing: partnering for mutual success; Focus, focus, focus; Strategy is cheap; operationalizing is key; Alignment brings cohesion; Flexibility as strategic value; Carrots and sticks: the value of discipline; Leverage… at all levels The cash flow paradoxThe buy-and-sell approach: capitalism on speed; Believers, sceptics and cynics; 1 Private equity: from "alternative" to "mainstream" asset class?; Moving into mainstream; A brief history; An increasingly global industry; Private equity in North America; Private equity in Europe; Private equity in Asia; Emerging private equity players; An industry in the limelight; 2 Private equity as a business system; Setting the stage; The raison d'être of private equity funds; Private equity's market segments; The fuel behind private equity: investors Portfolio allocations by investorsThe (apparent) madness of private equity fees; Management fee; Carried interest; General partner interest; Commitments versus investments; Distributions in cash, please!; Due diligence, leverage, focus and… incentives; Superior information; Active ownership; Financial leverage; Alignment of interests; Mitigating possible conflicts of interest; Illiquidity… and new ways to cope with it; Secondaries market; Publicly listed private equity vehicles; 3 Value creation in private equity; The art of private equity; Sourcing deals; Creating value in private equity Operational valueExiting investments; The economic impact of private equity; 4 Private equity performance; Performance metrics; Valuing realized and unrealized investments; Reporting fund performance; Membership and self-reporting biases; Performance by segments; Performance by fund size; The persistence effect; The timing effect; Comparison against benchmarks; Correlation to other asset classes; 5 The main characters in private equity; Size matters: fund sizes, deal sizes and other dimension issues!; Global alternative asset managers; Example: The Carlyle Group; Example: Bain Capital Regional, domestic and multi-country fundsExample: EQT Partners; Mid-market funds; Example: H.I.G. Capital; Venture capital funds; Example: TVM Capital; Distressed private equity; Example: Cerberus Capital Management LP; Secondary funds; Example: Coller Capital; Funds-of-funds; Example: Pantheon; Example: AlpInvest Partners; Institutional limited partners; Example: CalPERS (California Public Employees Retirement System); 6 The supporting cast; London as European centre of gravity; The private equity ecosystem: follow the fees; Investment banks; M&A advisory fees; Arrangement fees Securitization fees, or the price of turning frogs into princes
ISBN:	978-1-118-93973-4 ; 978-1-118-93983-3 ; 978-1-118-93973-4
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011838996