About this item
Highlights
- In Private Capital: The Complete Guide to Private Markets Investing, renowned private markets investor and expert Dr. Stefan W. Hepp delivers an insightful and comprehensive exploration of the history, nature, and influence of private market investing.
- About the Author: DR. STEFAN W. HEPP, a finance veteran since the late 1980s, started his career at Salomon Brothers and Morgan Stanley, where he served on Bank Morgan Stanley's Management Committee before he founded and led SCM Strategic Capital Management, a global private markets investment firm with about ten billion dollars in assets.
- 720 Pages
- Business + Money Management,
- Series Name: Wiley Finance
Description
About the Book
"Private markets investing has undergone a remarkable transformation over the past two decades, with assets under management soaring to an astounding $10 trillion in 2022. This explosive growth has sparked a need for a comprehensive resource that offers a deep dive into the industry's evolution, key aspects, and ecosystem. Enter this book. It offers a wealth of insights into the private markets landscape, examining the risk-reward profiles of different private market investments, analyzing the industry's track record, and exploring the drivers of deal-making and value creation during different cycles. Drawing on both practitioner knowledge and academic research, this book provides a holistic understanding of the industry. The book also explores present-day developments that have reshaped the private markets industry, such as the rise of unicorns, SPACs, and permanent capital. It delves into the tools and concepts that industry players use to examine investment opportunities and make informed investment decisions. Whether you're an institutional investor, banker, mainstream asset manager, financial professional, or student, this book offers relevant content. It offers the first compendium to provide an in-depth overview of the full spectrum of private markets investing, making it a desirable addition to any investor's library"--Book Synopsis
In Private Capital: The Complete Guide to Private Markets Investing, renowned private markets investor and expert Dr. Stefan W. Hepp delivers an insightful and comprehensive exploration of the history, nature, and influence of private market investing. The author offers a robust examination of the key practical and conceptual issues faced by investors as they move forward into the future.
In the book, you'll find fulsome discussions of the rise of private market investment following the conclusion of World War II, as well as why the limited partnership became the dominant investment vehicle for private equity. You'll also discover the importance of the convergence of technology, government, academia, and venture capital that came to define what we now know as Silicon Valley.
The book includes:
- Explanations of the emergence of buyout firms, as well as why and how buyouts differ from other forms of mergers and acquisitions
- Examinations of the explosive growth of private equity and other private asset classes since the turn of the millennium
- Discussions of the issues set to dominate the future of private markets, including ESG investing, value creation, unicorns, special purpose acquisition companies (SPACs), and more
A must-read book for regulators, investors, asset managers, entrepreneurs, founders, and other businesspeople, Private Capital will earn a place on the bookshelves of anyone with a stake or interest in private equity and other private asset classes.
From the Back Cover
PRAISE FOR PRIVATE CAPITAL
"This book not only demystifies the world of private markets investing but also provides invaluable insights into how individuals and businesses can harness the power of private capital to drive innovation, growth, and financial success."
-- Prof. Dr. Dr. Ann-Kristin Achleitner, Scientific Director, Center for Entrepreneurial and Financial Studies - CEFS at the Technical University Munich
"A comprehensive, detailed and entertaining Tour d'Horizon of Private Equity. Love it."
--Dr. Marcel Erni, Co-Founder and Member of the Board of Directors of Partners Group
"Stefan Hepp has authored a tour de force for the alternative investment industry. Never before have we seen such an ambitious, sweeping and comprehensive overview, spanning centuries, continents and asset classes."
--Blair V. Jacobson, Partner, Co-Head of European Credit of Ares Management
"Stefan Hepp provides a broad and deep history of private capital in its many forms and manifestations. As such, Private Capital is extremely useful for anyone who wants to understand the past and present of private investing."
-- Prof. Steven N. Kaplan, Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance at the University of Chicago Booth School of Business
" Private Capital is storytelling at its best, taking us on a detailed journey through the pivotal events alongside the visionaries who helped shape our industry and providing rich context to understand the current structure and form of an industry so vital to drive the growth economy."
--Walter G. Kortschak, Senior Advisor and former Managing Director of Summit Partners
"I thoroughly enjoyed the wonderfully written Private Capital --it is certain to be a classic about private investment markets."
--David. M. Rubenstein, Co-Founder and Co-Chairman of the Board, The Carlyle Group
"This book makes private markets investing public and I am sure students and PE practitioners all over the world will find Private Capital a fascinating must read."
--Christophe Sarrasin, CFA, CAIA, Director of the Nestlé Pension Fund
"Private Capital is both extremely well written and extremely comprehensive. This book should be required reading for every MBA student and for anyone entering this asset class as a profession."
--Brooks D. Zug, Co-Founder and Senior Managing Director Emeritus, HarbourVest
"Private Capital is the first book to provide a comprehensive and thorough overview of the evolution of today's ten trillion dollar industry since its infancy."
--Dr. Rüdiger R. Stucke, Senior Vice President, Head of Quantitative Research, Warburg Pincus LLC
About the Author
DR. STEFAN W. HEPP, a finance veteran since the late 1980s, started his career at Salomon Brothers and Morgan Stanley, where he served on Bank Morgan Stanley's Management Committee before he founded and led SCM Strategic Capital Management, a global private markets investment firm with about ten billion dollars in assets. After SCM was acquired by Marsh & McLennan Company, he became the Global Business Leader for Private Markets at Mercer. He serves on the boards of several financial institutions. Stefan has been a consultant for international organizations such as the World Bank and the American Enterprise Institute. He received his Ph.D. in Economics from the University of St. Gallen and an MBA from the University of Chicago Booth School of Business, where he also teaches in the full-time MBA program.