by Harry Cendrowski, James P. Martin, Louis W. Petro and Adam A.
John Wiley & Sons Inc., 2008, 457 pp.
The institutionalization of private equity is one of the most important advances in the field of modern finance, write the authors of Private Equity: History, Governance, and Operations. “It is through private equity (PE) that the seeds of new ideas are permitted to germinate and the souls of the withering may be granted rebirth.” This comprehensive guide provides insight into a once-exclusive form of investing that is now an integral part of the world economy, with a focus on venture capital financing and buyout transactions.
The book is divided into four modules. Module 1 is especially directed toward the novice with an introduction to private-equity terms (with a glossary to help keep them straight), an overview of the structure of the private-equity process and a history of the birth of private equity. Module 2 focuses on the unique governance structures of private-equity firms and how they differ from public corporations. Professional standards, models of internal control and contemporary business intelligence are also covered in this section. Module 3 focuses on improving the operations of portfolio companies, while Module 4 deals with special consideration in private-equity investments.
For novices and experienced investors alike, achieving a better understanding of the complexities of private-equity investing may prove easier with this in-depth resource at your side.
By JofA Senior Editor Loanna Overcash