{"product_id":"international-private-equity-9780470971703","title":"International Private Equity","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eBringing a unique joint practitioner and academic perspective to the topic, this is the only available text on private equity truly international in focus.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003ePreface.  \u003cp\u003eAbbreviations.\u003c\/p\u003e \u003cp\u003eAbout the authors.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 1 Overview and fund-level analysis.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 Introduction and overview.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1.1 Introduction.\u003c\/p\u003e \u003cp\u003e1.2 Cyclicality of the private equity industry.\u003c\/p\u003e \u003cp\u003e1.3 Statistics on the private equity industry.\u003c\/p\u003e \u003cp\u003e1.4 Recent regulatory activity.\u003c\/p\u003e \u003cp\u003e1.5 The outlook of the private equity industry.\u003c\/p\u003e \u003cp\u003e1.6 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 Private equity fund economics.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2.1 Overview.\u003c\/p\u003e \u003cp\u003e2.2 Private equity firms or general partners (GPs).\u003c\/p\u003e \u003cp\u003e2.3 Investors in private equity funds or limited partners (LPs).\u003c\/p\u003e \u003cp\u003e2.4 Private equity funds or limited partnerships.\u003c\/p\u003e \u003cp\u003e2.5 Advisors and agents.\u003c\/p\u003e \u003cp\u003e2.6 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 Performance measurement in private equity.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e3.1 Overview.\u003c\/p\u003e \u003cp\u003e3.2 Measures of private equity fund performance.\u003c\/p\u003e \u003cp\u003e3.3 Benchmarking private equity performance.\u003c\/p\u003e \u003cp\u003e3.4 Academic findings on the performance of private equity funds.\u003c\/p\u003e \u003cp\u003e3.5 Why the performance assessment of private equity remains difficult.\u003c\/p\u003e \u003cp\u003e3.6 Conclusions.\u003c\/p\u003e \u003cp\u003e3.7 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 Private equity investing in emerging markets.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4.1 Introduction.\u003c\/p\u003e \u003cp\u003e4.2 Investment landscape.\u003c\/p\u003e \u003cp\u003e4.3 Drivers for PE investments in emerging economies.\u003c\/p\u003e \u003cp\u003e4.4 Risks of investing in emerging economies.\u003c\/p\u003e \u003cp\u003e4.5 Market structure and investment characteristics.\u003c\/p\u003e \u003cp\u003e4.6 Comparative landscape of emerging markets.\u003c\/p\u003e \u003cp\u003e4.7 Summary.\u003c\/p\u003e \u003cp\u003e4.7 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 Fund due diligence.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e5.1 What is fund due diligence?\u003c\/p\u003e \u003cp\u003e5.2 LP investment process.\u003c\/p\u003e \u003cp\u003e5.3 Fund due diligence in detail.\u003c\/p\u003e \u003cp\u003e5.4 Summary.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 Private equity fund accounting.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e6.1 What is happening in private equity accounting?\u003c\/p\u003e \u003cp\u003e6.2 Current major issues and complexities.\u003c\/p\u003e \u003cp\u003e6.3 Interpreting fund accounts.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 Gatekeepers.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e7.1 Introduction.\u003c\/p\u003e \u003cp\u003e7.2 Main types of professional advisors.\u003c\/p\u003e \u003cp\u003e7.3 In-house or outsourcing?\u003c\/p\u003e \u003cp\u003e7.4 Outsourcing to a fund of funds.\u003c\/p\u003e \u003cp\u003e7.5 Fund-of-funds economics.\u003c\/p\u003e \u003cp\u003e7.6 Selecting a fund of funds.\u003c\/p\u003e \u003cp\u003e7.7 Outlook.\u003c\/p\u003e \u003cp\u003e7.8 Bibliography.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 Listed private equity.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8.1 Introduction.\u003c\/p\u003e \u003cp\u003e8.2 Benefits and disadvantages of listed private equity.\u003c\/p\u003e \u003cp\u003e8.3 Economic and organizational forms.\u003c\/p\u003e \u003cp\u003e8.4 Legal forms.\u003c\/p\u003e \u003cp\u003e8.5 Estimated risk profile of listed private equity.\u003c\/p\u003e \u003cp\u003e8.6 LPE indexes.\u003c\/p\u003e \u003cp\u003e8.7 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Secondary fund transactions.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9.1 Introduction.\u003c\/p\u003e \u003cp\u003e9.2 Secondary market development.\u003c\/p\u003e \u003cp\u003e9.3 Parties involved in secondary transactions.\u003c\/p\u003e \u003cp\u003e9.4 Secondary transactions.\u003c\/p\u003e \u003cp\u003e9.5 The pricing of secondary transactions.\u003c\/p\u003e \u003cp\u003e9.6 Conclusion.\u003c\/p\u003e \u003cp\u003e9.7 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 2 Deal-level analysis.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 Valuation of private equity companies.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e10.1 Introduction.\u003c\/p\u003e \u003cp\u003e10.2 Valuation guidelines.\u003c\/p\u003e \u003cp\u003e10.3 Implementation of the main valuation methods: multiples and DCF.\u003c\/p\u003e \u003cp\u003e10.4 Pitfalls to be wary of when valuing private companies.\u003c\/p\u003e \u003cp\u003e10.A Pueblo Clothing SpA.\u003c\/p\u003e \u003cp\u003e10.B Chariot Skates Plc.\u003c\/p\u003e \u003cp\u003e10.C References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11 Deal analysis and due diligence.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e11.1 Introduction.\u003c\/p\u003e \u003cp\u003e11.2 The sale process.\u003c\/p\u003e \u003cp\u003e11.3 Circumstances influence the due diligence process.\u003c\/p\u003e \u003cp\u003e11.4 Deal analysis and due diligence during the sale process.\u003c\/p\u003e \u003cp\u003e11.5 Motives\/Perspectives of stakeholders.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e12 Leveraged buyout transactions.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e12.1 Introduction.\u003c\/p\u003e \u003cp\u003e12.2 LBO execution: The deal process.\u003c\/p\u003e \u003cp\u003e12.3 LBO stakeholders.\u003c\/p\u003e \u003cp\u003e12.4 Value creation in an LBO.\u003c\/p\u003e \u003cp\u003e12.5 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e13 Leveraged buyout modeling: An Excel application.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e13.1 Overview.\u003c\/p\u003e \u003cp\u003e13.2 Build a pre–transaction structure model.\u003c\/p\u003e \u003cp\u003e13.3 Determine transaction structure: Uses of funds.\u003c\/p\u003e \u003cp\u003e13.4 Determine transaction structure: Sources of funds.\u003c\/p\u003e \u003cp\u003e13.5 Build a post–transaction structure model.\u003c\/p\u003e \u003cp\u003e13.6 Determine exit and compute returns.\u003c\/p\u003e \u003cp\u003e13.7 Optimization and analysis of the LBO model.\u003c\/p\u003e \u003cp\u003e13.8 Analysis of the Toys R Us LBO.\u003c\/p\u003e \u003cp\u003e13.9 Reference.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e14 Post-deal operational improvements.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e14.1 What operational improvements are made post deal?\u003c\/p\u003e \u003cp\u003e14.2 Identifying the opportunity.\u003c\/p\u003e \u003cp\u003e14.3 EBITDA growth.\u003c\/p\u003e \u003cp\u003e14.4 Maximizing assets—human capital.\u003c\/p\u003e \u003cp\u003e14.5 When things go wrong.\u003c\/p\u003e \u003cp\u003e14.6 Conclusion.\u003c\/p\u003e \u003cp\u003e14.7 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e15 Harvesting private equity investments.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e15.1 Introduction.\u003c\/p\u003e \u003cp\u003e15.2 Steps to exiting a private equity investment.\u003c\/p\u003e \u003cp\u003e15.3 Exit strategies.\u003c\/p\u003e \u003cp\u003e15.4 Summary.\u003c\/p\u003e \u003cp\u003e15.5 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 3 Early-stage investing.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e16 Angel investing.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e16.1 What is angel investing?\u003c\/p\u003e \u003cp\u003e16.2 What motivates business angels?\u003c\/p\u003e \u003cp\u003e16.3 Angel investment process.\u003c\/p\u003e \u003cp\u003e16.4 Recent developments and trends.\u003c\/p\u003e \u003cp\u003e16.5 Summary.\u003c\/p\u003e \u003cp\u003e16.6 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e17 Venture capital.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e17.1 Introduction.\u003c\/p\u003e \u003cp\u003e17.2 What is venture capital.\u003c\/p\u003e \u003cp\u003e17.3 The VC investment process.\u003c\/p\u003e \u003cp\u003e17.4 The VC contract.\u003c\/p\u003e \u003cp\u003e17.5 Alternative sources of VC financing.\u003c\/p\u003e \u003cp\u003e17.6 Conclusion.\u003c\/p\u003e \u003cp\u003e17.7 References.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 4 Case studies.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e18 Realza Capital.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDecember 2006.\u003c\/p\u003e \u003cp\u003eDecember 2008.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e19 Swicorp: Private equity in the MENA region 2009.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSwicorp—A Short History.\u003c\/p\u003e \u003cp\u003eThe MENA region.\u003c\/p\u003e \u003cp\u003eThe MENA Private Equity Landscape.\u003c\/p\u003e \u003cp\u003eThe role of sovereign wealth funds (SWFs).\u003c\/p\u003e \u003cp\u003eSwicorp's Intaj Investment Strategy.\u003c\/p\u003e \u003cp\u003eDeal selection process.\u003c\/p\u003e \u003cp\u003eStep Carpet Group.\u003c\/p\u003e \u003cp\u003eJordan Aviation LLC.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e20 Founding Mekong Capital.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eVietnam and the private equity industry.\u003c\/p\u003e \u003cp\u003eMEF I and the initial investment philosophy.\u003c\/p\u003e \u003cp\u003eMEF I case study: AA Corporation.\u003c\/p\u003e \u003cp\u003eMEF II and a new investment philosophy.\u003c\/p\u003e \u003cp\u003eMEF II case study: International Consumer Products.\u003c\/p\u003e \u003cp\u003eVietnam Azalea Fund.\u003c\/p\u003e \u003cp\u003e2007—searching for answers from within.\u003c\/p\u003e \u003cp\u003eThe corporate transformation process.\u003c\/p\u003e \u003cp\u003eWill it work?\u003c\/p\u003e \u003cp\u003e\u003cb\u003e21 Bloomsbury Capital: June 2007.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e22 Edcon: Going shopping in South Africa.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEdcon: A Leading South African Retailer.\u003c\/p\u003e \u003cp\u003eBain Capital: Background.\u003c\/p\u003e \u003cp\u003eOpportunity Knocks.\u003c\/p\u003e \u003cp\u003eSouth Africa.\u003c\/p\u003e \u003cp\u003eCurrency risk.\u003c\/p\u003e \u003cp\u003eThe deal.\u003c\/p\u003e \u003cp\u003eThe bid.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e23 FiberNet Communications.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHungarian history and economy.\u003c\/p\u003e \u003cp\u003eHungarian television broadcasting market.\u003c\/p\u003e \u003cp\u003eCable TV industry.\u003c\/p\u003e \u003cp\u003eFiberNet's key competitors.\u003c\/p\u003e \u003cp\u003eThe FiberNet opportunity.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e24 Seat SpA.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChronology of Seat transaction.\u003c\/p\u003e \u003cp\u003eBain Capital: background.\u003c\/p\u003e \u003cp\u003eThe global and European directory market.\u003c\/p\u003e \u003cp\u003eThe Italian directory market.\u003c\/p\u003e \u003cp\u003eSeat business description.\u003c\/p\u003e \u003cp\u003eMarket entry of Pagine Utili.\u003c\/p\u003e \u003cp\u003eThe Internet: Threat or opportunity?\u003c\/p\u003e \u003cp\u003eDue diligence.\u003c\/p\u003e \u003cp\u003eItalian economic and political landscape.\u003c\/p\u003e \u003cp\u003ePrivatization process in Italy.\u003c\/p\u003e \u003cp\u003eThe deal.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e25 Ducati and Investindustrial: Racing out of the pits and over the finish line.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvestindustrial acquisition of Ducati.\u003c\/p\u003e \u003cp\u003eImproving the company (2006–2008).\u003c\/p\u003e \u003cp\u003eThe world motorcycle industry in 2008.\u003c\/p\u003e \u003cp\u003eRaising a new fund.\u003c\/p\u003e \u003cp\u003eA \"wild ride\" for Ducati's stock.\u003c\/p\u003e \u003cp\u003eJune 2010.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e26 Styles \u0026amp; Wood: Behind the scenes of retail.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStyles \u0026amp; Wood: The history.\u003c\/p\u003e \u003cp\u003eGerard Quiligotti and the turnaround years.\u003c\/p\u003e \u003cp\u003eThe MBO: The fall of Wembley Stadium Group.\u003c\/p\u003e \u003cp\u003eStyles \u0026amp; Wood since 1996: Managing the growth strategy.\u003c\/p\u003e \u003cp\u003eProject Oak in 2001: Management incentives and reaping rewards.\u003c\/p\u003e \u003cp\u003eProject Oval in 2004: From 3i to Aberdeen—secondary buyout decision.\u003c\/p\u003e \u003cp\u003eMarket and competition.\u003c\/p\u003e \u003cp\u003eInvesting decision.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e27 SunRay Renewable Energy: Private equity in the sunshine.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSunRay's choice of solar technology.\u003c\/p\u003e \u003cp\u003eThe value chain of a solar PV developer.\u003c\/p\u003e \u003cp\u003eThe European renewable market in 2006–2008.\u003c\/p\u003e \u003cp\u003eSunRay's business model.\u003c\/p\u003e \u003cp\u003eBuilding the management team.\u003c\/p\u003e \u003cp\u003eLearning the solar PV game the hard way.\u003c\/p\u003e \u003cp\u003eScaling up the business across Southern Europe.\u003c\/p\u003e \u003cp\u003eUnder the umbrella of private equity.\u003c\/p\u003e \u003cp\u003eMontalto di Castro: Building the largest solar power park in Europe.\u003c\/p\u003e \u003cp\u003eThe decision to exit.\u003c\/p\u003e \u003cp\u003eSunRay's spirit still alive.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e28 Debenhams.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePost deal and going public again.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e29 Optos: A sight worth seeing.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDouglas Anderson and the vision.\u003c\/p\u003e \u003cp\u003eScottish business landscape and funding for early-stage startups.\u003c\/p\u003e \u003cp\u003eProduct development.\u003c\/p\u003e \u003cp\u003eDiseases of the back of the eye and Optos's target market.\u003c\/p\u003e \u003cp\u003eManufacturing.\u003c\/p\u003e \u003cp\u003eCompetition.\u003c\/p\u003e \u003cp\u003eBusiness model: The \"razor\/razor blade\" concept.\u003c\/p\u003e \u003cp\u003eProfit and loss implications.\u003c\/p\u003e \u003cp\u003eCash flow implications.\u003c\/p\u003e \u003cp\u003eFinancing 1995–2001.\u003c\/p\u003e \u003cp\u003eGeographic expansion.\u003c\/p\u003e \u003cp\u003eFinancing in 2002.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e30 Capital for Enterprise U.K.: Bridging the SME early-stage finance gap.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAn \"equity gap\"?\u003c\/p\u003e \u003cp\u003ePrevious attempts by the U.K. government to tackle the \"equity gap\".\u003c\/p\u003e \u003cp\u003eLimits of previous programs.\u003c\/p\u003e \u003cp\u003eLaunching enterprise capital funds.\u003c\/p\u003e \u003cp\u003eKey questions and options for the ECF program design.\u003c\/p\u003e \u003cp\u003eThe first years of operation of the ECF program.\u003c\/p\u003e \u003cp\u003eA few years on: A first assessment.\u003c\/p\u003e \u003cp\u003eWhere next?\u003c\/p\u003e \u003cp\u003eGlossary.\u003c\/p\u003e \u003cp\u003eIndex.\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default 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