Download Inside Private Equity: The Professional Investor's Handbook by James M. Kocis, James C. Bachman IV, Austin M. Long III, PDF

By James M. Kocis, James C. Bachman IV, Austin M. Long III, Craig J. Nickels

Within inner most fairness explores the complexities of this asset category and introduces new methodologies that attach funding returns with wealth production. through delivering undemanding examples, it demystifies conventional measures just like the IRR and demanding situations the various universal assumptions approximately this asset type. Readers remove a collection of sensible measures that empower them to higher deal with their portfolios.

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Extra resources for Inside Private Equity: The Professional Investor's Handbook (Wiley Finance)

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These funds are, by design, long-term investments: most have a 10-year initial term. Many are not fully liquidated for 12 or more years. This illiquidity posed further complications to traditional investment managers. And to these managers, venture capital seemed a messy business with a language and practice all its own. To top it off, standards were lacking, there were few participants, and business systems and best practices were nonexistent. Yet, in a way, the small size of the industry contributed to its early success.

You can’t fool me. There ain’t no Sanity Clause! —Groucho and Chico Marx, A Night at the Opera Building a portfolio of private equity assets takes time and patience. This chapter introduces a structured approach to build or build onto a portfolio of private equity assets, provides some guidance on contract terms, and concludes with some timeless advice to fund managers from the standpoint of an LP. CYA OR PROCESS? Private equity investing is a high-stakes pursuit. How do you make an investment decision that ties up millions for years, offers little liquidity, and binds you as partner to a specialized investment 29 30 SETTING THE FOUNDATION team?

The real work of fundraising starts by getting the PPM to dozens or even hundreds of potential investors and meeting with as many as possible. ” One of the things a GP might sell to potential investors is the elusive deal flow, that is, their access to potential investments in companies. Many fund managers emphasize the proprietary nature of their deal flow. The definitive sign that fundraising has been successful is a closing, the signing of partnership documents. Somewhat counterintuitively, a closing does not necessarily mean that participation in the fund is closed; it means that the fund is definitively in operation.

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