Private equity and beyond
The growth of private capital has been astounding, leading to an unprecedented increase in the capital allocation by institutional investors and family offices around the world. It has also led to an expansion to other types of assets such as infrastructure, real estate and private credit, and subsequently to its rebranding as private capital.
Devoted to fund level aspects: private capital as an asset class, fund structuring, types, performance measurement, fundraising, fund due diligence, accounting and reporting, governance, administration and tax considerations.
Volume II: Private Capital Investments
An analysis at the investment level. It covers valuation of private companies, deal screening, acquisition finance, LBO transactions, harvesting, operation in emerging markets, and more.
By all measures, the continuous growth and expansion of the private capital asset class has been steep. The industry has grown over 200 times in a quarter of a century and is estimated to triple further over the next ten years. Once regarded as a small blip at the margin of alternative investments, private equity has become an asset class of its own and moved to the centre stage of capital markets. With its long-term record of successful performance, the private equity investment model has benefited from an unprecedented increase in the capital allocation by pension, endowments, and sovereign wealth funds around the world.
Alternative Asset Class
A comprehensive overview of the main topics in private capital that are relevant to graduate students, investors, regulators and other professionals seeking to understand the many facets of the asset class, as well as private equity practitioners who wish to have a broader analysis of the sector.
The Practitioner Point of View
For each chapter we have asked a leading professional who is expert in that specific field to write a text box, commenting on practical aspects and current trends.
Private Capital Funds
Volume I includes 500 pages and is devoted to fund level aspects: private capital as an asset class, fund structuring and types, performance measurement, fundraising, fund due diligence, accounting and reporting, governance, fund administration, fund taxation, risk management and ESG.
Private Capital Investments
Volume II includes 500 pages and is devoted to an analysis at the investment level. It covers valuation of private equity companies, deal screening and due diligence, acquisition finance, LBO transactions and modelling, post deal execution, harvesting of private equity investments, operation in emerging markets and more.
Acclaims from the founders and captains of the private equity industry
Professors Talmor and Vasvari's first book quickly became a standard reference work on our industry. Their new book expands the breadth of this coverage, reflecting the rapid evolution of the alternative assets sector. By offering cutting-edge perspectives on emerging best practices, it makes itself an indispensable guide to the future of private markets.
Founder and Executive Chairman of Coller Capital
If I were to encapsulate in a single place all that I have learned in more than thirty years of international private equity investing, I could not have come close to doing as good a job as Professors Eli Talmor and Florin Vasari have done in their new two-volume book on this subject. For anyone interested in learning about the complications, as well as the potential rewards involved in this type of investing, I highly recommend Private Capital.
David M. Rubenstein
Co-Founder and Co-Executive Chairman of The Carlyle Group
Professors Talmor and Vasvari combine academic rigor and real world cutting edge experience to provide an insightful and detailed description of private equity today. This is a most valuable contribution to academia, the industry, and to business in general.
Henry R. Kravis
Co-Chairman and Co-CEO, Kohlberg, Kravis Roberts
Professors Talmor and Vasvari provide a rigorous and comprehensive treatment of private equity, including a look at important developments in the private capital market not covered in-depth elsewhere.
Stephen A. Schwarzman
Co-Founder, Chairman and CEO of The Blackstone Group
Professor Talmor and Professor Vasvari's book provides a comprehensive analysis and practical guide to the expanding world of private capital. Integrating a review of best business practice with academic insight and rigour, this text is an excellent handbook for anyone interested in this exciting asset class, whether they are a student or an experienced professional."
Head of Europe, Pantheon
The two-volume book provides a comprehensive overview of the main topics in private capital that are relevant to graduate students, investors, regulators and other professionals seeking to understand the many facets of the asset class, as well as private equity practitioners who wish to have a broader analysis of the sector.