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>
Exits are the lifeblood of private equity: for private equity investors, at the top of their list of priorities when making an investment is an understanding of when and how they will realise it in due course. The methods of exiting private equity investments have developed over the years, and particularly in the more challenging economic environment of recent times. To the usual trade sales and initial public offerings (IPOs) have been added secondary, tertiary (and more) buy-outs, refinancings, partial sales, private equity house spin-outs and liquidations. In these uncertain times, private equity houses will continue to put a significant focus on what options might be available to them to realise their portfolio investments, being mindful of not just the economic risks, but also the legal, tax, regulatory and reputational issues at stake. Management teams are key to this process and their economic, commercial and personal priorities cannot be underestimated in what is a very complex environment of often conflicting aspirations.This practical guide features contributions by leading specialists (including from Latham & Watkins, Linklaters, Macfarlanes and Ropes and Gray) on a range of topics linked to the exit of private equity investments. Topics featured include preparing for exits, vendor diligence, management issues, auction sales, partial exits, private equity house spin-outs, IPOs, refinancing, winding-up, tax and perspectives from Luxembourg, the US and views on the emerging markets. Together, the contributors provide an invaluable guide to the legal, regulatory, tax and practical elements in play. Whether you are a lawyer in practice or in-house, this commercially focused new title will provide you with an invaluable all-round overview of private equity exits.
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
Scotland has a special claim for the attention of comparative lawyers, of legal historians, and of those who seek to identify a common core in European private law or to develop a new jus commune. For Scotland stands at the intersection of the two great traditions of European law--of the law of Rome, received and developed in Continental Europe, and of the law which originated in England but was exported throughout the British Empire. In Scotland, uniquely in Europe, there is to be found a fusion of the civil law and the common law. Law in Scotland has a long history, uninterrupted either by revolution or by codification. It is rich in source material, both printed and archival. Yet hitherto the history of legal doctrine has been relatively neglected. This work is the first detailed and systematic study in the field of private law. Its method is to take key topics from the law of obligations and the law of property and to trace their development from earliest times to the present day. A fascinating picture emerges. The reception of civil law was slow but profound, beginning in the medieval period and continuing until the eighteenth century. Canon law was also influential. This was flanked by two receptions from England, of Anglo-Norman feudalism in the twelfth century and beyond, and, more enduringly, of aspects of English common law in the nineteenth and twentieth centuries. In addition there was much that was home-grown. Over time this disparate mixture was transformed by legal science into a coherent whole.
This volume will introduce the readers to an alternative nexus of education, equity and economy, pointing to economies and educations that promote a less stratified and exploitive world, and as the chapter authors demonstrate, this view has a wide range of applications, from technology, mathematics, to environmental catastrophes and indigenous cultures.
This first volume in the new book series not only introduces the series itself, but also several authors whose chapters that appear here presage the in-depth analysis that will be offered by their volumes in the series.
Education is invoked repeatedly in the 'class warfare' that pits the population against the elites as the investment that makes the difference, in terms of both policy and individual commitment, in the economy. The economy in this scenario is competitive, accumulative, exploitive and stratifying, implying education should mirror this and prepare people to fit this economy. However, education has other historic goals of developing common cultures, national identities, and civic engagement that belie this form of economic determinism. This volume and the series will explore this new nexus of economy and education with equity.