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The definitive guide to private equity for investors, finance professionals managers and business owners. Private Equity Defined: Venture, Growth and Buyouts presents a unique handbook and valuable on-demand tool for investors, (finance) professionals, managers and business owners looking to engage with private equity or venture funds.The book systematically distills the essence of private equity across key strategies - Venture Capital, Growth Capital and Leveraged Buyouts - into core concepts, while also presenting standard market practice across all steps of the investment process. Both developed and emerging market considerations are addressed. The book is complimented by Private Equity in Practice: Case Studies from the World of Venture, Growth, and Buyouts, a case book which provides rich, real-life applications of core concepts.The complexity of the private equity model continues to confuse industry outsiders, with the success of the industry often attributed either to a mystical 'secret sauce' or a ruthless approach to cost cutting and asset stripping. In the authors' experience, however, the competitive advantage of private equity comes from the diligent application of best practices, as described in this book, a keen focus on big drivers of risk and opportunity and, above all, a lot of hard work.This book provides a comprehensive, unbiased guide to investing market practices, enabling its readers to better understand the inner workings of the private equity model. It can equally serve as a standard introduction to investment professionals new to the field, as a reference book for specific steps along the investment process, or as a comprehensive overview of the mechanics of private equity to students of alternative investing.Each diligently researched and concisely presented chapter focuses on one specific aspect of private equity and is complemented by a comment from our Guest Authors - all seasoned Private Equity and Venture Capital professionals or founding partners of established funds.The team of experienced authors ensures the right balance of academic rigor and industry relevancy, given their experience in the world of alternative investments. The chapters and case studies have been refined through in-class discussion at one of the world's preeminent business schools, INSEAD, and bolstered by the research engine of the Global Private Equity Initiative (GPEI), a leading private equity research institution.
