Two and Twenty: How the Masters of Private Equity Always Win (Libro en Inglés)

$ 968.00
ISBN: 9780593239599
por Currency
ISBN: 9780593239599
Editorial: Currency
Autor: Khajuria, Sachin
Año de edición: 2022
N° Paginas: 272
Tipo de pasta: Pasta dura
Descripción: The first true insider’s account of private equity, revealing what it takes to thrive among the world’s hungriest dealmakers“Brilliant . . . eloquently takes readers inside the heroic world of private equity . . . [an] essential read.”—ForbesONE OF THE MOST ANTICIPATED BOOKS OF THE SUMMER—BloombergPrivate equity was once an investment niche. Today, the wealth controlled by its leading firms surpasses the GDP of some nations. Private equity has overtaken investment banking—and well-known names like Goldman Sachs and Morgan Stanley—as the premier destination for ambitious financial talent, as well as the investment dollars of some of the world’s largest pension funds, sovereign wealth funds, and endowments. At the industry’s pinnacle are the firms’ partners, happy to earn “two and twenty”—that is, a flat yearly fee of 2 percent of a fund’s capital, on top of 20 percent of the investment spoils.Private equity has succeeded in near-stealth—until now. In Two and Twenty, Sachin Khajuria, a former partner at Apollo, gives readers an unprecedented view inside this opaque global economic engine, which plays a vital role underpinning our retirement systems. From illuminating the rituals of firms’ all-powerful investment committees to exploring key precepts (“think like a principal, not an advisor”), Khajuria brings the traits, culture, and temperament of the industry’s leading practitioners to life through a series of vivid and unvarnished deal sketches.Two and Twenty is an unflinching examination of the mindset that drives the world’s most aggressive financial animals to consistently deliver market-beating returns.Review“A true insider’s account of the industry.”—Fortune“It cannot be stressed enough how much [Two and Twenty] is needed. . . . Private equity investors are not overpaid, nor are they avoiding taxes on our backs. In reality they’re heroes. Read Sachin Khajuria’s excellent and essential book to understand why.”—Forbes“Khajuria believes private equity deserves to be defended. . . . [Deal] sketches supply helpful information about the structure of private equity funds. . . . The vignettes enable Khajuria to show the wide range of industries and transactions in which private equity now operates. . . . He suggests that private equity is too big and has insinuated itself too deeply into American life to be stopped. That may be the book’s most persuasive point.” —The Wall Street Journal“[Two and Twenty is] an excellent primer on the industry, from how things work at the very top to the nuts and bolts of its vast influence around the globe.”—Bloomberg Businessweek“[Sachin Khajuria] demystifies the private equity world.”—Financial TimesAbout the AuthorSachin Khajuria is a former partner at Apollo, one of the world's largest alternative asset management firms, and is also an investor in funds managed by Blackstone and Carlyle, among other investment firms. He has twenty-five years of investment and finance experience. Sachin holds two degrees in economics from the University of Cambridge. He divides his time between New York, Switzerland, and London.Excerpt. © Reprinted by permission. All rights reserved.Chapter OneThe Best Game in TownThe world economy is broken. Underlying fissures created by subprime mortgage losses have cracked open, with a devastating effect on the global financial system. Ordinary citizens are staring down the barrel of an ugly recession. Unemployment is soaring, on an unshakable course to double digits, and homeowners are drowning in foreclosure. The Federal Reserve has slashed interest rates as a credit crunch grips. Governments are forced to turn to their tools of last resort: colossal stimulus measures and nationalization plans to save households and corporations. Then, a week after the U.S. government is forced to bail out mortgage backers Fannie Mae and Freddie Mac, the unthinkable happens: Lehman Brothers, a major investment bank, files for bankruptc
  • Idioma: Inglés
  • Envío: Desde EE. UU.
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