The myth of private equity : an inside look at Wall Street's transformative investments

書誌事項

The myth of private equity : an inside look at Wall Street's transformative investments

Jeffrey C. Hooke

(Columbia Business School publishing)

Columbia University Press, c2021

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注記

Includes bibliographical references and index

内容説明・目次

内容説明

Once an obscure niche of the investment world, private equity has grown into a juggernaut, with consequences for a wide range of industries as well as the financial markets. Private equity funds control companies that represent trillions of dollars in assets, millions of employees, and the well-being of thousands of institutional investors and their beneficiaries. Even as the ruthlessness of some funds has made private equity a poster child for the harms of unfettered capitalism, many aspects of the industry remain opaque, hidden from the normal bounds of accountability. The Myth of Private Equity is a hard-hitting and meticulous expose from an insider's viewpoint. Jeffrey C. Hooke-a former private equity executive and investment banker with deep knowledge of the industry-examines the negative effects of private equity and the ways in which it has avoided scrutiny. He unravels the exaggerations that the industry has spun to its customers and the business media, scrutinizing its claims of lucrative investment returns and financial wizardry and showing the stark realities that are concealed by the funds' self-mythologizing and penchant for secrecy. Hooke details the flaws in private equity's investment strategies, critically examines its day-to-day operations, and reveals the broad spectrum of its enablers. A bracing and essential read for both the financial profession and the broader public, this book pulls back the curtain on one of the most controversial areas of finance.

目次

1. A Day in the Life 2. The Private Equity Industry 3. How Does the Private Equity Industry Work? 4. The Poor Investment Results 5. Private Equity and the Holy Grail 6. The High Fees 7. The Customers 8. The Staffs 9. The Enablers 10. The Fellow Travelers 11. In Closing Notes Index

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