Private Equity In The United States And Europe

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Private Equity and Venture Capital in Europe

Author : Stefano Caselli
Publisher : Academic Press
ISBN 13 : 0128122552
Total Pages : 352 pages
Book Rating : 4.1/5 (281 download)

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Book Synopsis Private Equity and Venture Capital in Europe by : Stefano Caselli

Download or read book Private Equity and Venture Capital in Europe written by Stefano Caselli and published by Academic Press. This book was released on 2018-01-26 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global financial markets might seem as if they increasingly resemble each other, but a lot of peculiar aspects qualify different markets with different levels of development. Private equity investors can take advantage of these variations. Structured to provide a taxonomy of the business, Private Equity and Venture Capital in Europe, Second Edition, introduces private equity and venture capital markets while presenting new information about the core of private equity: secondary markets, private debt, PPP within private equity, crowdfunding, venture philanthropy, impact investing, and more. Every chapter has been updated, and new data, cases, examples, sections, and chapters illuminate elements unique to the European model. With the help of new pedagogical materials, this Second Edition provides marketable insights about valuation and deal-making not available elsewhere. - Covers new regulations and legal frameworks (in Europe and the US) described by data and tax rates - Features overhauled and expanded pedagogical supplements to increase the versatility of the Second Edition - Focuses on Europe - Includes balanced presentations throughout the book

A Comparative Examination of Private Equity in the United States and Europe

Author : Alexandros L. Seretakis
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis A Comparative Examination of Private Equity in the United States and Europe by : Alexandros L. Seretakis

Download or read book A Comparative Examination of Private Equity in the United States and Europe written by Alexandros L. Seretakis and published by . This book was released on 2013 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity has transformed from a small asset class into a major player in the global economy. Despite being a U.S. invention, the private equity model has also managed to spread throughout Europe. Recently, the spotlight has been put on the private equity industry for a number of reasons: the recent financial crisis; the adoption of the Dodd-Frank Wall Street Reform and Consumer Protection Act in the U.S. and the Alternative Investment Fund Managers Directive in the E.U.; and the run of Mitt Romney, founder of the prestigious U.S. private equity firm Bain Capital, for President of the United States. Despite this attention, a comparative examination of private equity regulation is absent from academic literature. This paper seeks to fill that gap and offers a comparative assessment of the legal framework governing private equity firms and transactions in both Europe and the U.S. This comparative examination will reveal that Europe has a particularly restrictive legal environment, which one would assume would inhibit European private equity activity and cause it to substantially lag behind the U.S. Nonetheless, underlying economic forces have provided and continue to provide a boost to the European market, allowing Europe to compete with the U.S. on an equal footing. Unraveling these underlying economic forces shall be the other major goal of this paper. When it comes to European private equity, there is no causation between the strictness of the legal regime and economic development. Rather, economic development shapes its own path and is unaffected by the prevailing legal regime.

Comparative Regulation, Economic Analysis, and Applications of Private Equity in the United States and European Union

Author : IRINI. LIAKOPOULOU
Publisher :
ISBN 13 : 9781680530940
Total Pages : pages
Book Rating : 4.5/5 (39 download)

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Book Synopsis Comparative Regulation, Economic Analysis, and Applications of Private Equity in the United States and European Union by : IRINI. LIAKOPOULOU

Download or read book Comparative Regulation, Economic Analysis, and Applications of Private Equity in the United States and European Union written by IRINI. LIAKOPOULOU and published by . This book was released on 2020-06-15 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The present work examines the economics and legal doctrine of private equity. After a consideration of private equity's origins, the book will explore the evolution of private equity in the United States and Europe. The reference economic model then will be reconstructed, with particular attention to financial flows to and from private equity firms and funds. This reconstruction will be instrumental for the subsequent analysis of remunerative policies and practices of private equity firms and the illustration of recommendations to improve them, especially following the subprime mortgage crisis of 2008. The book concludes with critical points for operators, legislators, and regulatory authorities in the light of the results of the economic analysis of private equity and of comparative regulatory analysis.

Private Equity in the United States and Europe

Author : Alexandros L. Seretakis
Publisher :
ISBN 13 :
Total Pages : 7 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Private Equity in the United States and Europe by : Alexandros L. Seretakis

Download or read book Private Equity in the United States and Europe written by Alexandros L. Seretakis and published by . This book was released on 2016 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: A transformation of the private equity industry has occurred in recent years. The financial crisis of 2007-2008 and the sovereign debt crisis caused a substantial decline in private equity activity while a new wave of rules has substantially strengthened the oversight and regulation of the private equity industry. Analysis suggests the effects of market and regulatory developments will be particularly adverse for the European private equity industry. In contrast, private equity activity in the United States is likely to continue its growth aided by the revival of the U.S. economy and the measured approach of U.S. regulators toward the risks posed by the industry. The purpose of this chapter is to offer an analysis of market and regulatory developments in the private equity industry in the United States and Europe in the post-financial crisis era and to provide an assessment of the future of the private equity industry.

International Private Equity

Author : Eli Talmor
Publisher : John Wiley & Sons
ISBN 13 : 1119973880
Total Pages : 801 pages
Book Rating : 4.1/5 (199 download)

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Book Synopsis International Private Equity by : Eli Talmor

Download or read book International Private Equity written by Eli Talmor and published by John Wiley & Sons. This book was released on 2011-06-24 with total page 801 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Alternative Investment Fund Managers Directive

Author : Dirk A. Zetzsche
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041149953
Total Pages : 948 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis The Alternative Investment Fund Managers Directive by : Dirk A. Zetzsche

Download or read book The Alternative Investment Fund Managers Directive written by Dirk A. Zetzsche and published by Kluwer Law International B.V.. This book was released on 2015-09-14 with total page 948 pages. Available in PDF, EPUB and Kindle. Book excerpt: Apart from MiFID, the Alternative Investment Fund Managers Directive (AIFMD) may be the most important European asset management regulation of the early twenty-first century. In this in-depth analytical and critical discussion of the content and system of the directive, thirty-eight contributing authors – academics, lawyers, consultants, fund supervisors, and fund industry experts – examine the AIFMD from every angle. They cover structure, regulatory history, scope, appointment and authorization of the manager, the requirements for depositaries and prime brokers, rules on delegation, reporting requirements, transitional provisions, and the objectives stipulated in the recitals and other official documents. The challenging implications and contexts they examine include the following: – connection with systemic risk and the financial crisis; - nexus with insurance for negligent conduct; - connection with corporate governance doctrine; - risk management; - transparency; - the cross-border dimension; - liability for lost assets; - impact on alternative investment strategies, and - the nexus with the European Regulation on Long-Term Investment Funds (ELTIFR). Nine country reports, representing most of Europe’s financial centres and fund markets add a national perspective to the discussion of the European regulation. These chapters deal with the potential interactions among the AIFMD and the relevant laws and regulations of Austria, France, Germany, Italy, Luxembourg, Liechtenstein, The Netherlands, Malta and the United Kingdom. The second edition of the book continues to deliver not only the much-needed discussion of the inconsistencies and difficulties when applying the directive, but also provides guidance and potential solutions to the problems it raises. The second edition considers all new developments in the field of alternative investment funds, their managers, depositaries, and prime brokers, including, but not limited to, statements by the European Securities and Markets Authority (ESMA) and national competent authorities on the interpretation of the AIFMD, as well as new European regulation, in particular the PRIIPS Regulation, the ELTIF Regulation, the Regulation on European Venture Capital Funds (EuVeCaR), the Regulation on European Social Entrepreneurship Funds (EUSEFR), MiFID II, and UCITS V. The book will be warmly welcomed by investors and their counsel, fund managers, depositaries, asset managers, administrators, as well as regulators and academics in the field.

Venture Capital

Author : Stefano Caselli
Publisher : Springer Science & Business Media
ISBN 13 : 9783540402343
Total Pages : 440 pages
Book Rating : 4.4/5 (23 download)

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Book Synopsis Venture Capital by : Stefano Caselli

Download or read book Venture Capital written by Stefano Caselli and published by Springer Science & Business Media. This book was released on 2004 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: Venture Capital. A Euro-System Approach covers a wide spectrum of topics. These include: how venture capital really works, the relations between venture capital, corporate banking and stock exchanges, market trends in Europe and the US, legal issues related to the creation of venture capital firms and closed end funds, and finally regulatory and economic policy issues. The book is based on a strong link between a rigorous methodological approach and real world best practices of venture capitalists - thanks to a team of contributors formed by both academics and professionals of various fields.

The Oxford Handbook of Private Equity

Author : Douglas Cumming
Publisher : OUP USA
ISBN 13 : 0195391586
Total Pages : 769 pages
Book Rating : 4.1/5 (953 download)

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Book Synopsis The Oxford Handbook of Private Equity by : Douglas Cumming

Download or read book The Oxford Handbook of Private Equity written by Douglas Cumming and published by OUP USA. This book was released on 2012-03-22 with total page 769 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides a comprehensive picture of the issues surrounding the structure, governance, and performance of private equity.

Corporate Governance and Responsible Investment in Private Equity

Author : Simon Witney
Publisher : Cambridge University Press
ISBN 13 : 1108627668
Total Pages : 241 pages
Book Rating : 4.1/5 (86 download)

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Book Synopsis Corporate Governance and Responsible Investment in Private Equity by : Simon Witney

Download or read book Corporate Governance and Responsible Investment in Private Equity written by Simon Witney and published by Cambridge University Press. This book was released on 2021-01-07 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity-backed companies are ubiquitous and economically significant. Consequently, the corporate governance of these companies matters to all of us, and – not surprisingly – is coming under increasing scrutiny. Simon Witney, a practicing private equity lawyer, positions private equity portfolio companies within existing academic theory and examines the laws that apply to them in the UK. He analyses the actual governance frameworks that are put in place and identifies problems created by the legal rules – as well as the market's solutions to them. This book not only explains why these governance mechanisms are established, but also what they are expected to achieve. Witney suggests that private equity owners have both the incentives and the capability to focus on responsible investment practices. Good governance, he argues, is a critical success factor for the private equity industry.

Venture Capital in Europe

Author : Greg N. Gregoriou
Publisher : Elsevier
ISBN 13 : 0080466079
Total Pages : 433 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Venture Capital in Europe by : Greg N. Gregoriou

Download or read book Venture Capital in Europe written by Greg N. Gregoriou and published by Elsevier. This book was released on 2011-04-01 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until recently, only the United States had an active venture capital market. This is changing rapidly, as many other countries have experienced rapid growth in venture capital financing over the past five years. This book contains new scientific articles showcasing the latest research on venture capital in Europe. Venture capital investment remains a hot topic with portfolio managers, individual investors, academics worldwide. This book examines in detail all the major issues regarding venture capital investment: contracting, financing, regulation, valuation, etc. and identifies new trends in the venture capital arena. Features a foreword by Josh Lerner.*The only book in which academics from around the world present the latest research on venture capital in Europe*Covers all of Europe as well as including overview papers about venture capital industry, public and private venture capital, valuation, financing, contracting, structuring, regulation, etc. *Comprehensive, authoritative coverage

Venture Capital in the United States and Europe

Author : Guillermo de la Dehesa
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Venture Capital in the United States and Europe by : Guillermo de la Dehesa

Download or read book Venture Capital in the United States and Europe written by Guillermo de la Dehesa and published by . This book was released on 2002 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Venture Capital

Author : Stefano Caselli
Publisher : Springer
ISBN 13 : 9783642073007
Total Pages : 423 pages
Book Rating : 4.0/5 (73 download)

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Book Synopsis Venture Capital by : Stefano Caselli

Download or read book Venture Capital written by Stefano Caselli and published by Springer. This book was released on 2010-11-30 with total page 423 pages. Available in PDF, EPUB and Kindle. Book excerpt: Venture Capital. A Euro-System Approach covers a wide spectrum of topics. These include: how venture capital really works, the relations between venture capital, corporate banking and stock exchanges, market trends in Europe and the US, legal issues related to the creation of venture capital firms and closed end funds, and finally regulatory and economic policy issues. The book is based on a strong link between a rigorous methodological approach and real world best practices of venture capitalists - thanks to a team of contributors formed by both academics and professionals of various fields.

Lessons from Private Equity Any Company Can Use

Author : Orit Gadiesh
Publisher : Harvard Business Press
ISBN 13 : 142215632X
Total Pages : 126 pages
Book Rating : 4.4/5 (221 download)

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Book Synopsis Lessons from Private Equity Any Company Can Use by : Orit Gadiesh

Download or read book Lessons from Private Equity Any Company Can Use written by Orit Gadiesh and published by Harvard Business Press. This book was released on 2008-02-07 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity firms are snapping up brand-name companies and assembling portfolios that make them immense global conglomerates. They're often able to maximize investor value far more successfully than traditional public companies. How do PE firms become such powerhouses? Learn how, in Lessons from Private Equity Any Company Can Use. Bain chairman Orit Gadiesh and partner Hugh MacArthur use the concise, actionable format of a memo to lay out the five disciplines that PE firms use to attain their edge: · Invest with a thesis using a specific, appropriate 3-5-year goal · Create a blueprint for change--a road map for initiatives that will generate the most value for your company within that time frame · Measure only what matters--such as cash, key market intelligence, and critical operating data · Hire, motivate, and retain hungry managers--people who think like owners · Make equity sweat--by making cash scarce, and forcing managers to redeploy underperforming capital in productive directions This is the PE formulate for unleashing a company's true potential.

The Buyout of America

Author : Josh Kosman
Publisher : Penguin
ISBN 13 : 1101152389
Total Pages : 268 pages
Book Rating : 4.1/5 (11 download)

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Book Synopsis The Buyout of America by : Josh Kosman

Download or read book The Buyout of America written by Josh Kosman and published by Penguin. This book was released on 2009-11-12 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative exposé of the mysterious and potentially dangerous world of private equity Few people realize that the top private equity firms, such as Blackstone Group, Carlyle Group, and Kohlberg Kravis Roberts, have become the nation’s largest employers through the businesses they own. Using leveraged buyouts that load their acquired companies with loans, private equity firms have generated more than $1 trillion in new debt—which will come due just when these businesses are least likely to be able to pay it off. Journalist Josh Kosman explores private equity’s explosive growth and shows how its barons wring profits at the expense of the long-term health of their companies. He argues that excessive debt and mismanagement will likely trigger another economic meltdown within the next five years, wiping out up to two million jobs. He also explores the links between the private equity elite and Washington power players, who have helped them escape government scrutiny. The result is a timely book with an important warning for us all.

A Comparison of Small and Medium Sized Enterprises in Europe and in the USA

Author : Solomon Karmel
Publisher : Routledge
ISBN 13 : 1134497814
Total Pages : 278 pages
Book Rating : 4.1/5 (344 download)

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Book Synopsis A Comparison of Small and Medium Sized Enterprises in Europe and in the USA by : Solomon Karmel

Download or read book A Comparison of Small and Medium Sized Enterprises in Europe and in the USA written by Solomon Karmel and published by Routledge. This book was released on 2002-03-21 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developed from a study commissioned by the European Capital Markets Institute, this book examines the impact of private equity and capital markets on the development of small and medium sized enterprises (SMEs) in the United States and the European Union. It also seeks to understand the nature of institutional policy towards SMEs and the extent to which it can aid development. This volume offers a strong introduction, glossary and international case-studies to aid the reader's understanding, and has a broad appeal within finance, economics and business.

The Myth of Private Equity

Author : Jeffrey C. Hooke
Publisher : Columbia University Press
ISBN 13 : 0231552823
Total Pages : 282 pages
Book Rating : 4.2/5 (315 download)

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Book Synopsis The Myth of Private Equity by : Jeffrey C. Hooke

Download or read book The Myth of Private Equity written by Jeffrey C. Hooke and published by Columbia University Press. This book was released on 2021-10-05 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Once an obscure niche of the investment world, private equity has grown into a juggernaut, with consequences for a wide range of industries as well as the financial markets. Private equity funds control companies that represent trillions of dollars in assets, millions of employees, and the well-being of thousands of institutional investors and their beneficiaries. Even as the ruthlessness of some funds has made private equity a poster child for the harms of unfettered capitalism, many aspects of the industry remain opaque, hidden from the normal bounds of accountability. The Myth of Private Equity is a hard-hitting and meticulous exposé from an insider’s viewpoint. Jeffrey C. Hooke—a former private equity executive and investment banker with deep knowledge of the industry—examines the negative effects of private equity and the ways in which it has avoided scrutiny. He unravels the exaggerations that the industry has spun to its customers and the business media, scrutinizing its claims of lucrative investment returns and financial wizardry and showing the stark realities that are concealed by the funds’ self-mythologizing and penchant for secrecy. Hooke details the flaws in private equity’s investment strategies, critically examines its day-to-day operations, and reveals the broad spectrum of its enablers. A bracing and essential read for both the financial profession and the broader public, this book pulls back the curtain on one of the most controversial areas of finance.

Performance of Private Equity Funds

Author : Taro Niggemann
Publisher : GRIN Verlag
ISBN 13 : 3638419770
Total Pages : 98 pages
Book Rating : 4.6/5 (384 download)

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Book Synopsis Performance of Private Equity Funds by : Taro Niggemann

Download or read book Performance of Private Equity Funds written by Taro Niggemann and published by GRIN Verlag. This book was released on 2005-09-20 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2005 in the subject Business economics - Investment and Finance, grade: 1.0, Otto Beisheim School of Management Vallendar, course: Doppeldiplomprogramm WHU Koblenz / EM Lyon, language: English, abstract: Private equity is currently replacing hedge funds as the most observed asset class. And while mutual funds experience a decline of assets under management, buyout funds break all records as far as fund raising is concerned. The attractiveness of buyout funds among investors is often attributed to superior returns and to an allegedly lower correlation with other asset classes. However, buyout fund returns also show superior volatility. In addition to that risk factor, investors must face liquidity and transparency risk. It is common agreement that investors are compensated for the elevated risk through a return premium. This and the cited lower correlation prompt more and more investors to add private equity into their portfolios. The wide-spread opinion of superior private equity performance is backed by several studies. But the analysis of these studies reveal that a number of them employ methodologies which are disapproved of by experts on theoretical private equity performance measurement. Furthermore, some have a one-sided notion of financial performance. Benchmarking, risk and correlation data which are crucial for an overall performance assessment often lack. The analysis of a series of technically appropriate, objective studies shows that private equity has historically outperformed public equity with regard to returns, in Europe more than in the United States (US). What remains unsolved is to which extent this return premium rewards the inherent, additional risk of private equity investments. And what is more certain: the prevalent view on correlation seems to be wrong. Empirical evidence and qualitative analysis speak for high correlation between private equity and the major asset classes. The most important driver for individual fund performance appears to be the quality of fund management. Thereby, specialized teams outperform others. Moreover, specialized funds provide investors better opportunity to diversify their private equity portfolio. Fundraising and investment conditions for private equity funds in France and Germany are favorable, but the accomplishment of superior performance will become harder in the future. The rules of the private equity business are changing as operating leverage has replaced financial leverage as the essential value driver.