Value-creation in Middle Market Private Equity by John A. Lanier holistically examines the ecosystem relationships between middle market private equity firms and their portfolio companies. Small business is the job creating engine in the US economy, and consequently is a prime target market for private equity investment. Indeed, private equity backs over six of each 100 private sector jobs. Both the small businesses in which private equity firms invest, and the private equity firms making the investments, face inter- and intra-company fiduciary leadership challenges while implementing formulated strategy. The architecture of each private equity firm-portfolio company relationship must be uniquely crafted to capitalize on the projected return on investment that is memorialized in the investment thesis. Given the leveraged capital structure of portfolio companies, the cost of a misstep is problematic. Individual private equity professionals are typically members of multiple investment teams for the firm. Not only may each investment team have its own unique leadership style, but its diverse members have to assimilate styles for each team in which they participate relative to a specific portfolio company. Acquisitions and their subsequent integrations add exponential complexity for both private equity investment and portfolio company leadership teams; indeed, cultural integration ranks among the most chronic acquisition obstacles. Accordingly, the stakeholders of private equity transactions do well to embrace leadership best practices in applying value-creation toolbox best practices. The perspectives of both the private equity investment team and the portfolio company leadership team are within the scope of these chapters.
The 5<sup>th</sup> edition of Lerner's <i>Venture Capital and Private Equity: A Casebook </i>continues to present the important historical cases of private equity while incorporating a number of new relevant and timely cases from previous best-selling issues. It includes more cases relevant to the texts four main goals: understanding the ways in which private equity firms work, applying the key ideas of corporate finance to the industry, understanding the process of valuation, and critiquing valuation approaches of the past and present- an approach which has proved very successful over the past four editions.</p> <p> This casebook contains cases and notes designed to provide an understanding of the history of the private equity industry's development and the workings of the industry today. By explaining the industry on a case-by-case basis, this text promises to address the critical question of whether gains made in recent years have been sustained and how firms will respond to the current opportunities and challenges. </p>
"This overview of a complex and often misunderstood subject takes the reader through the issues that are faced throughout the life cycle of a private equity investment, from the identification of an opportunity, through the various stages of the transaction and the lifetime of the investment, to the eventual exit by the investor. The analysis of key documentation and legal issues covers company law, employment law, pensions, taxation, debt funding and competition law, taking into account recent legal developments such as the Companies Act 2006, the recent emergence of private equity in the UK and the challenges faced by the industry as a result of the financial crisis"--Provided by publisher.
Using a combination of the comparative legal method and hermeneutics, this book reconciles Islamic law with English trust's law in these two main areas. It does not find it necessary for one legal system to reign supreme over the other, as such solutions will be questioned by the internal subjects of the dominated legal system, undermining the efficacy of this study. Rather, reconciliation is a mutual step to congruence taken by both legal systems. In the area of perpetuities, the book finds that neither Islamic Waqfs must be perpetual, nor common law trusts must have a rule against perpetuities. Regarding ownership theories, the multiplicity of rendered theories in both legal systems presents more than one avenue of reconciliation. Overall, the study finds that private Waqfs and private trusts can be reconciled without undermining the internal hermeneutic standpoints of both legal systems.
How will the latest series of sweeping reforms affect China's expanding private equity industry? How does this complex sector of the massive Chinese economy point the way towards further explosive growth? How can investors position themselves under the new regulatory system to do business in the future? Private Equity Funds in China: A 20-Year Overview, in 2 volumes, serves as the definitive resource on understanding and navigating China's private funds market. Both a history and a guide, the 2 volumes of this set explain the ups-and-downs of China's private funds market and the substantial differences and striking similarities between China's private equity market and similar markets in the United States and Europe. With comprehensive data and statistics, as well as inside information, Chief Editor Xia Bin, the Counselor of the State Council, presents policy recommendations which could potentially change China's equity funds sector, and even the asset management market. Private Equity Funds in China: A 20-Year Overview offers a bold and frank assessment of the state of the industry and reveals: The inner workings of China's private securities and non-securities investment funds The intricacies of China's "sunshine" private funds The progression of China's venture capital funds