Free Private Equity As An Asset Class (The Wiley Finance Series) Ebooks To Download
Guy Fraser-Sampson draws upon twenty years' private equity experience to provide a practical guide to mastering the intricacies of this highly specialist asset class. Aimed equally at investors, professionals and business school students, it starts with such fundamental questions as "what is private equity?" and progresses to detailed analysis of venture and buyout returns. It also unveils a totally new concept which looks set to revolutionise thinking in the industry: Total Return investing. Often unfairly reviled, and frequently misunderstood, private equity differs from all other asset classes in various important respects, not least in the nature and timing of its returns, which require a whole new approach for those reared on more traditional investments such as bonds and shares. This book shows how a good grasp of the basic structure of private equity vehicles and returns (including the dreaded J-curve) can lead to full understanding of the techniques needed to measure and analyse performance. Key points include: A glossary of private equity terms Venture funds and transactions Buyout funds and transactions Understanding private equity returns Analysis of historic returns How to plan a fund investment programme How to conduct effective due diligence Total Return investing
Series: The Wiley Finance Series (Book 469)
Hardcover: 284 pages
Publisher: Wiley; 1 edition (April 16, 2007)
Language: English
ISBN-10: 0470066458
ISBN-13: 978-0470066454
Product Dimensions: 6.4 x 0.9 x 9.1 inches
Shipping Weight: 1.2 pounds
Average Customer Review: 4.0 out of 5 stars See all reviews (14 customer reviews)
Best Sellers Rank: #1,682,891 in Books (See Top 100 in Books) #111 in Books > Business & Money > Finance > Corporate Finance > Private Equity #231 in Books > Business & Money > Finance > Corporate Finance > Venture Capital #10988 in Books > Business & Money > Investing
Guy Fraser-Sampson does an outstanding job in introducing the world of private equity in this book. He starts off defining various concepts in this field, explaining the ways to analyze private equity returns and distinguishing between buyouts and venture capital. He follows with a comprehensive discussion of buyouts (including the various types of buyouts, analysis models, and historical buyout returns) and then an equally thorough investigation of venture capital (with a similar structure to that in the buyouts section). Mr. Fraser-Sampson wraps up with a discussion on due diligence and advice on planning your own investment program in private equity.I greatly enjoyed the book. It is easy to read, and Mr. Fraser-Sampson presents the concepts in a clear and simple manner - suitable for readers completely new to private equity. I like that the author is unafraid to express his own opinions - whether on the state of transparency in the field, on future buyout returns in Europe, or on usefulness of anti-trust legislation. He furthermore makes sure to separate his thoughts from the pure factual data that he provides to support them.Interestingly, the book does not simply focus on private equity in one area of the world - the United States. It also covers Europe and sometimes ventures (no pun intended) into other parts of the globe, which I think is a breath of fresh air from the typical finance books that concentrate on US markets only. I am pleased to see this, as I strongly feel that a world-wide outlook is very important in the business world today. And, as Mr.
First of all, I have to say that I am not a specialist of the Private Equity world, but I read regularly about the topic and I have a strategy and finance background which helps understanding these things. Reading the previous reviews of the book, I wonder if we have read the same book. I was actually excited at the prospect of reading this overview of both the PE and VC worlds in a single volume. But my expectations were diminishing as I was painfully going through the pages, and I finally stopped reading, frustrated and not having learned much, before the end of the PE part of this quite expensive little book. Anyhow, I would like to start with a positive note and say that the book is well organized with clear and logical chapters for both the PE and VC parts. But that's it! My first frustration was that there was not a single case study to make things a bit more lively, not even a history of key deals, which is a bit strange for such a book and such an industry rich in storied deals and personalities. Also very frustrating is that there is quasi no calculations showing how value is created through deals and various financing structures. It was like an action movie with a lot of talk and no action! Another surprise was the poor treatment on the part dedicated to debt and its use in PE deals: a couple of pages at best. Debt, and the financial engineering that goes with it, is one of the key value levers in PE deals so how can this be almost skipped like that? Apparently the author had previously written a book on PE funds. Beyond the constant "read/refer to my previous book", which was a bit annoying, there was often confusion as to what the author was talking about: funds or deals?
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