Hardcover: 288 pages
Publisher: Wiley; 1 edition (April 20, 2009)
Language: English
ISBN-10: 0470421894
ISBN-13: 978-0470421895
Product Dimensions: 6.4 x 1 x 9.1 inches
Shipping Weight: 1 pounds (View shipping rates and policies)
Average Customer Review: 4.7 out of 5 stars See all reviews (3 customer reviews)
Best Sellers Rank: #380,498 in Books (See Top 100 in Books) #37 in Books > Business & Money > Finance > Corporate Finance > Private Equity #74 in Books > Business & Money > Finance > Corporate Finance > Venture Capital #293 in Books > Textbooks > Business & Finance > Investments & Securities
This book was written from the perspective of a seasoned, highly experienced LP, giving advice to people new to the LP role regarding how to invest in PE funds. As an employee of a small PE firm, I found it helpful to understand how sophisticated LPs make investment allocation decisions and how they evaluate PE fund performance. Some of the details regarding how to calculate IRR seemed a bit rudimentary, and some of the info regarding how to track investments in multiple PE funds seemed to be geared towards selling the software/services of one of the authors. But it's easy to skip those sections, and the rest of book was so informative and well-written that I think it deserves 5 stars nonetheless (especially in light of the limited amount of high-quality, informative/instructional material written about the PE industry).
If you are looking to a quick and comprehensive intro to PE this is it. I was surprised how easy-to-read yet informative this book is. I have done some IT work with PE firms and wanted a deeper understanding of the terminology, fund management from both the LP and GP perspectives and performance evaluation and the book delivered on all three counts. There is a good amount of detail on cash flow forecasting which was useful in a recent project I was involved in. I have referred back to the book several times and feel it is a valuable addition to my library.
Good overall primer on the PE industry. Price is not bad, value for the money is there.
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