Private Equity As An Asset Class

Private Equity as an Asset Class PDF
Author: Guy Fraser-Sampson
Publisher: John Wiley & Sons
ISBN: 0470970537
Size: 47.67 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 280
View: 5006

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Private Equity As An Asset Class

by Guy Fraser-Sampson, Private Equity As An Asset Class Books available in PDF, EPUB, Mobi Format. Download Private Equity As An Asset Class books, Unfairly reviled, and much misunderstood, private equity differs from all other asset classes in various important respects, not least the way in which its fund mechanisms operate, and the way in which its returns are recorded and analysed. Sadly, high level asset allocation decisions are frequently made on the basis of prejudice and misinformation, rather than a proper appreciation of the facts. Guy Fraser-Sampson draws upon more than twenty years of experience of the private equity industry 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 consideration of different types of private equity activity such as venture capital and buyout. Rapid and significant changes in the environment during the recent financial crisis have prompted the need for a new edition. Separate chapters have been added on growth and development capital, as well as secondary investing. Newly emergent issues are considered, such as lengthening holding periods and the possible threat of declining returns. Particular problems, such as the need to distinguish between private equity and hedge funds, are addressed. The glossary has also been expanded. In short, readers will find that this new edition takes their understanding of the asset class to new heights. Key points include: A glossary of private equity terms Venture capital Buyout Growth capital Development capital Secondary investing Understanding private equity returns Analysing funds and returns How to plan a fund investment programme Detailed discussion of industry performance figures


Infrastructure As An Asset Class

Infrastructure as an Asset Class PDF
Author: Barbara Weber
Publisher: John Wiley & Sons
ISBN: 0470661755
Size: 21.59 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 284
View: 1826

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Infrastructure As An Asset Class

by Barbara Weber, Infrastructure As An Asset Class Books available in PDF, EPUB, Mobi Format. Download Infrastructure As An Asset Class books, The market for infrastructure is vast and, contrary to popular belief, the range of potential infrastructure investments is extremely broad. An investor who does not have a sufficient overview and insight into the infrastructure market or an awareness of the suitable investment opportunities and the risks they entail, will find it difficult to select the right investments. This book is a comprehensive guide to the subject, bringing together the topics of infrastructure investments, project finance and public private partnerships (PPPs), equipping investors with the necessary theoretical knowledge and background information as well as practical examples in order to further their understanding of the key aspects of infrastructure investments. It answers questions such as: How is infrastructure defined? Which sectors are classified as infrastructure, how are they categorised, and what are the differences between them? Is infrastructure an asset class in its own right? If so, what are its characteristics? What are the fundamental options for investing in infrastructure? What is a good starting point for institutional investors? How should infrastructure funds be evaluated? What risks do they entail and how can these risks be identified and assessed? How should they be structured in order to best allocate these risks? The book discusses the differing objectives and expectations of the parties involved and the conditions required by public principals and investors in order to enable these groups to overcome the ?language problems? they largely encounter. In addition to background knowledge and information on the latest developments in the individual subject areas, the book also explains the methodology of project finance in detail, both for traditional project finance and in the PPP context, establishing the key differences to other forms of financing, guiding readers through the various phases of project analysis on a step-by-step basis using practical examples. Well structured infrastructure investments can serve to improve the risk-return profile of an investor?s overall portfolio on account of their long term and their low level of correlation with traditional asset classes. This book will assist investors in their understanding of infrastructure investments, leading to a better informed portfolio. "A comprehensive and well-written overview of many relevant topics in the infrastructure sector; a useful guide for everyone involved or interested in the infrastructure area." Henk Huizing, Head of Infrastructure, PGGM "A comprehensive book that effectively marries the topics of infrastructure investing, project finance and PPPs as well as bridges the gap between the theoretical and the practical - the authors are to be commended on this work." Marc S. Lipschultz, Global Head of Energy and Infrastructure, Kohlberg Kravis Roberts & Co. "Quite a book and one that should definitely be part of the toolkit of those who are interested in the Infrastructure asset class. Had this comprehensive work been available ten years ago, no doubt, one or two of us certainly would have done things differently. So, let's keep it closely at hand as a guide for the future that helps us deliver even better outcomes for all stakeholders and enables us to further develop the asset class." Ron Boots, Senior Portfolio Manager - Co head Infrastructure Investments, APG All Pensions Group


Art As An Investment

Art as an Investment  PDF
Author: Ms Melanie Gerlis
Publisher: Ashgate Publishing, Ltd.
ISBN: 1848221525
Size: 56.70 MB
Format: PDF, ePub
Category : Art
Languages : en
Pages : 192
View: 4392

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Art As An Investment

by Ms Melanie Gerlis, Art As An Investment Books available in PDF, EPUB, Mobi Format. Download Art As An Investment books, Aimed at collectors and investors, this user-friendly guide explains art's value as an asset through comparisons with more familiar investments, including property, shares and gold. It draws on extensive research and interviews with key players in these other markets, as well as the author’s own experience, to clarify the specifics of art as an asset class.


Alternative Assets

Alternative Assets PDF
Author: Guy Fraser-Sampson
Publisher: John Wiley & Sons
ISBN: 0470980087
Size: 26.14 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 256
View: 5073

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Alternative Assets

by Guy Fraser-Sampson, Alternative Assets Books available in PDF, EPUB, Mobi Format. Download Alternative Assets books, The investment landscape has changed dramatically over the last few years, destroying many of the old certainties by which investors lived their lives. In particular, it has shaken belief in the ability of traditional asset types such as bonds and equities to protect them from abnormal market conditions, and it has brought home how closely correlation between different markets can be squeezed together by extreme pressure. Future investors will have to regard so-called "alternative" assets as essential elements within their portfolios, and be prepared to deal with the complexities that this will entail. This will in turn force a re-appraisal of core concepts such as "risk" and "return", not least because some alternative asset classes do not lend themselves well to traditional return measures. Exciting times lie ahead, but a thorough working knowledge of the various alternative asset classes will be an essential pre-requisite to success, and perhaps even to survival. Alternative Assets meets investor's need for a guide on where to allocate in this new climate. It provides investors with a primer on each alternative asset class, as well as practical tips on the pros and cons, implementation, returns analysis, fees and costs. It also offers introductory guidance on how to set investment targets, and how alternative assets can be accommodated within the allocation process. Each chapter gives useful background knowledge on a particular asset type, including a discussion of whether a satisfactory beta return level exists and, if so, the different ways in which it might be accessed. Written by best-selling author Guy Fraser-Sampson, this book guides investors through the new look alternative investment arena, providing post-financial crisis perspective and investment advice on the alternatives landscape.


International Private Equity

International Private Equity PDF
Author: Eli Talmor
Publisher: John Wiley & Sons
ISBN: 9781119973881
Size: 26.78 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 764
View: 4736

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International Private Equity

by Eli Talmor, International Private Equity Books available in PDF, EPUB, Mobi Format. Download International Private Equity books, Bringing a unique joint practitioner and academic perspective to the topic, this is the only available text on private equity truly international in focus. Examples are drawn from Europe the Middle East, Africa and America with major case studies from a wide range of business sectors, from the prestigious collection of the London Business School’s Coller Institute of Private Equity. Much more than a simple case book, however, International Private Equity provides a valuable overview of the private equity industry and uses the studies to exemplify all stages of the deal process, and to illustrate such key topics as investing in emerging markets; each chapter guides the reader with an authoritative narrative on the topic treated. Covering all the main aspects of the private equity model, the book includes treatment of fund raising, fund structuring, fund performance measurement, private equity valuation, due diligence, modeling of leveraged buyout transactions, and harvesting of private equity investments.


Value Creation Of Private Equity

Value Creation of Private Equity PDF
Author: Kevin Elsäßer
Publisher: GRIN Verlag
ISBN: 3668608393
Size: 78.23 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 76
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Value Creation Of Private Equity

by Kevin Elsäßer, Value Creation Of Private Equity Books available in PDF, EPUB, Mobi Format. Download Value Creation Of Private Equity books, Master's Thesis from the year 2016 in the subject Business economics - Investment and Finance, grade: 1,0, European Business School - International University Schloß Reichartshausen Oestrich-Winkel, language: English, abstract: Private equity companies are seen as high risk investment funds, trying to gain high returns on their investments in a period of around three to seven years. Even if the private equity industry has played an important role in growth or as an external financing source of established companies as well as newly-established companies, private equity investors are not seen as sustainable value creators. In various occasions, private equity funds are even declared as a greedy instrument to earn fast money. In order to analyse whether private equity companies create value in a sustainable way, this study compares the performance of private equity backed initial public offerings (IPOs) with non-private equity backed IPOs. Moreover, it analyses whether private equity backed IPOs outperform the market. This study evaluates the performance of private equity backed IPOs by performing two separate empirical analyses: one focusing on the UK private equity market - the largest private equity market in Europe - and one focusing on the entire European market. The research conducts a quantitative analysis of secondary data, more specifically by using stock prices of private equity backed firms, non-private equity backed firms and applicable benchmark market indices. Such data was obtained from multiple sources, such as the London Stock Exchange, Bloomberg and Yahoo Finance. In general, the study compares the performance of private equity backed IPOs with non-sponsor IPOs with regard to their price development and abnormal returns. The analysis is based on multiple independent analyses of each IPO. In order to provide a general understanding of this issue and to be able to interpret the research results, the paper discusses the theoretical framework and the findings of other authors. In recent decades, several authors have demonstrated their research on private equity based IPOs as well as the value creation of private equity firms. Based upon these, hypotheses are formulated, which are then subsequently tested using multiple research methods. In general, the study indicates that the majority of private equity firms do not create sustainable value. More than 50% of the analyzed private equity backed companies were not able to outperform the market benchmark indices. On average, private equity backed firms were able to significantly outperform the market in the UK. However, they were unable to perform equally well on a European level.


Investing In Private Equity Partnerships

Investing in Private Equity Partnerships PDF
Author: Kay Müller
Publisher: Springer Science & Business Media
ISBN: 9783834997456
Size: 34.72 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 316
View: 1526

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Investing In Private Equity Partnerships

by Kay Müller, Investing In Private Equity Partnerships Books available in PDF, EPUB, Mobi Format. Download Investing In Private Equity Partnerships books, Kay Müller provides insight into the monitoring activities of private equity fund investors and explores their information requirements. He analyzes the reporting of private equity fund managers, reveals information gaps and provides guidance on how to improve investor relations.


Beyond The J Curve

Beyond the J Curve PDF
Author: Thomas Meyer
Publisher: John Wiley & Sons
ISBN: 9781119995029
Size: 67.60 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 384
View: 4084

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Beyond The J Curve

by Thomas Meyer, Beyond The J Curve Books available in PDF, EPUB, Mobi Format. Download Beyond The J Curve books, In recent times, venture capital and private equity funds have become household names, but so far little has been written for the investors in such funds, the so-called limited partners. There is far more to the management of a portfolio of venture capital and private equity funds than usually perceived. Beyond the J Curve describes an innovative toolset for such limited partners to design and manage portfolios tailored to the dynamics of this market place, going far beyond the typical and often-simplistic recipe to 'go for top quartile funds'. Beyond the J Curve provides the answers to key questions, including: Why 'top-quartile' promises should be taken with a huge pinch of salt and what it takes to select superior fund managers? What do limited partners need to consider when designing and managing portfolios? How one can determine the funds' economic value to help addressing the questions of 'fair value' under IAS 39 and 'risk' under Basel II or Solvency II? Why is monitoring important, and how does a limited partner manage his portfolio? How the portfolio's returns can be improved through proper liquidity management and what to consider when over-committing? And, why uncertainty rather than risk is an issue and how a limited partner can address and benefit from the fast changing private equity environment? Beyond the J Curve takes the practitioner's view and offers private equity and venture capital professionals a comprehensive guide making high return targets more realistic and sustainable. This book is a must have for all parties involved in this market, as well as academic and students.


Introduction To Private Equity

Introduction to Private Equity PDF
Author: Cyril Demaria
Publisher: John Wiley & Sons
ISBN: 0470711884
Size: 71.77 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 244
View: 5769

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Introduction To Private Equity

by Cyril Demaria, Introduction To Private Equity Books available in PDF, EPUB, Mobi Format. Download Introduction To Private Equity books, Introduction to Private Equity is a critical yet grounded guide to the private equity industry. Far more than just another introductory guide, the book blends academic rigour with practical experience to provide a critical perspective of the industry from a professional who has worked at many levels within the industry, including insurance, funds of funds, funds and portfolio companies. The book looks at private equity from the point of view of the individual or the business. How is a private business valued? How is the acquisition transaction processed? What are the due diligence issues that should be considered before moving ahead? A valuable insight to a rather opaque market. Introduction to Private Equity covers the private equity industry as a whole, highlighting its historical development in order to put its recent development into perspective. The book covers its organization, governance and function, then details the various segments within the industry, including LBO, Venture Capital, Mezzanine Financing, Growth Capital and beyond. Finally, it offers a framework to anticipate and understand its future developments. It provides a balanced perspective on the current corporate governance challenges which are affecting the industry and draws perspective to understand the evolution of the sector, following one of its major crises.


Private Equity Unchained

Private Equity Unchained PDF
Author: T. Meyer
Publisher: Springer
ISBN: 1137286822
Size: 38.58 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 320
View: 4021

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Private Equity Unchained

by T. Meyer, Private Equity Unchained Books available in PDF, EPUB, Mobi Format. Download Private Equity Unchained books, There are significant returns to be made from private equity, infrastructure, real estate and other illiquid investments, but a competitive strategy is essential for investment success and for meeting objectives. This book takes readers through all the considerations of planning and implementing an investment strategy in illiquid investments.