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Advanced Introduction to Private Equity

Paperback

Advanced Introduction to Private Equity

9781800372191 Edward Elgar Publishing
Paul A. Gompers, Eugene Holman Professor of Business Administration, Harvard Business School and Steven N. Kaplan, Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance, Booth School of Business, University of Chicago, US
Publication Date: August 2022 ISBN: 978 1 80037 219 1 Extent: c 272 pp
This Advanced Introduction provides an illustrative guide to private equity, integrating insights from academic research with examples to derive practical recommendations. Paul Gompers and Steven Kaplan begin by reviewing the history of private equity then exploring the evidence on performance of private equity investments at both the portfolio company level and fund level, documenting the creation of economic value. The book then presents a set of actionable frameworks for driving value creation in private equity investments. It concludes by examining how private equity investors raise funds and how they successfully manage their private equity firms.

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Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world’s leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.

This Advanced Introduction provides an illustrative guide to private equity, integrating insights from academic research with examples to derive practical recommendations. Paul Gompers and Steven Kaplan begin by reviewing the history of private equity then exploring the evidence on performance of private equity investments at both the portfolio company level and fund level, documenting the creation of economic value. The book then presents a set of actionable frameworks for driving value creation in private equity investments. It concludes by examining how private equity investors raise funds and how they successfully manage their private equity firms.

Key Features:

• Explains what private equity investors do and how they do it
• Includes a detailed discussion of career paths in private equity
• Links real world examples that illustrate insights from academic research
• Provides an overview of the private equity industry from individual investments to fundraising to firm management

This Advanced Introduction is an excellent resource for investment bankers and consultants as well as prospective investors who are looking for a comprehensive yet succinct introduction to the topic. Scholars interested in the fields of finance and private equity will find the research and case studies informative and enlightening.
Critical Acclaim
‘This book is a must read for those interested in how the US private industry was formed, evolved over the years and currently operates. Paul Gompers and Steve Kaplan provide a comprehensive review of the academic research about the industry and provide thoughtful new rigorous analysis. Through the use of statistical evidence and real world examples, they demystify the working of a private equity firm and illustrate how private equity firms create value through operating improvements, leverage, governance, aligned incentives, and strategic direction. They also dispel many rumors about the industry. This book is the definitive work on the private equity industry and should be of interest to students, academicians and practitioners.’
– Robert F. "Bob" White, Harvard Business School, US

‘Private equity has become a traditional and strongly growing asset class – this book provides a great overview and deep dive of the “what is what” of the industry.’
– Marcel Erni, Co-Founder, Partners Group

‘Gompers and Kaplan take some of the “private” out of “private equity” by demystifying how it all works and deftly weaving together both the academic and practitioner perspectives. Finally, a book I can recommend to students, new recruits, and professionals looking for a Private equity primer.’
– Joe Osnoss, Managing Partner, Silver Lake

‘Private Equity is comprehensive, insightful and revelatory. It will quickly become the industry’s definitive tome authored by private equity’s foremost academic authorities – Paul Gompers and Steven Kaplan.’
– Gregory Purcell, Co Founder and Chief Executive Officer, Arbor Investments, LLC
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