Private Equity Unchained: Strategy Insights for the Institutional Investor

Front Matter....Pages i-viii
Introduction....Pages 1-6
A Neo-Classical Asset Class....Pages 7-15
The ‘Repair Shop of Capitalism’....Pages 16-23
Strategy Challenges....Pages 24-39
Strategic Asset Allocation....Pages 40-53
The Sky is Not the Limit....Pages 54-61
The Limited Partnership as Part of Humanity’s DNA....Pages 62-79
Do-It-Yourself?....Pages 80-93
Economics of Private Equity Firms....Pages 94-104
Objectives....Pages 105-110
Performance Persistence....Pages 111-122
Nobody Knows Anything....Pages 123-132
Spreading Risks — Thinly and Thickly....Pages 133-148
Private Equity Risk....Pages 149-160
Performance Measurement....Pages 161-171
The Galapagos Islands of Finance....Pages 172-183
The Locust and the Deep Blue Sea....Pages 184-193
Don’t Confuse Transparency with Intelligence....Pages 194-201
Spreading Risks — Part II....Pages 202-212
Open-Ended Relationships....Pages 213-224
Hard and Soft Power....Pages 225-234
Real Options....Pages 235-248
No Plan Survives....Pages 249-258
The Heavy Hand of Regulation....Pages 259-266
Private Equity Unchained....Pages 267-272
Back Matter....Pages 273-320