INSEAD professor writes comprehensive guide to private equity for investors & finance professionals
A companion case book on global best practices in private equity investing is launched at the same time.
Middle East, Asia, Europe
06 December 2017
INSEAD, the business school for the world, today announced two new books on Private Equity (PE) by Claudia Zeisberger, Senior Affiliate Professor of Decision Sciences and Entrepreneurship & Family Enterprise & Academic Director at INSEAD’s Global Private Equity Initiative (GPEI) and two alumni, Michael Prahl, Distinguished Fellow at GPEI, and Bowen White, Centre Director of GPEI.
Mastering Private Equity–Transformation via Venture Capital, Minority Investments and Buyouts (Mastering Private Equity) is a comprehensive guide to private equity (PE), providing readers with a valuable and in-depth look on how PE investments work and how the whole industry is evolving. From deal sourcing to exit, leveraged buyouts to responsible investing, operational value creation to risk management, the book systematically distils the essence of private equity into core concepts and explains in detail the dynamics of venture capital (VC), growth equity and buyout transactions. Critical thought is given to the concerns of the institutional investors who invest in PE and have started in recent years to build ‘direct investment’ capabilities.
Containing a foreword by Henry Kravis, Co-Chairman and Co-CEO of KKR, and special guest comments by 25 senior PE and VC professionals, Mastering Private Equity provides an all-encompassing, unbiased guide to investing market practices, enabling its readers to better understand the inner workings of the private equity model. Each chapter focuses on one specific aspect of private equity and is complemented by a comment from guest authors to ensure the right balance of academic rigour and industry relevance.
Key insights include how boards and firms must implement due diligence and work with the right partner best aligned with the management team’s skillsets, the firms current development and its future plans; how PE funds should partner with entrepreneurs and owners who share a common vision for the business and have the right management team in place; and how PE investments require excellent stewardship and management throughout their lifecycle to create operational value for sustainable growth and in preparing for a successful exit independent of the macroeconomic cycle.
Claudia Zeisberger, Senior Affiliate Professor of Decision Sciences and Entrepreneurship & Family Enterprise & Academic Director, GPEI, shares that: “For years, I have been asked questions ranging from how to manage private equity portfolios to the dynamics of GP-LP relationships and the future of the PE model. Over time, I wrote many short primers on these various topics, which were well received by both my students as well as industry players; it was time to compile them into a structured format for easy reference.”
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The authors have also published a companion case book, Private Equity in Action–Case Studies from Developed & Emerging Markets, which showcases global best practices in private equity investing through 19 case studies written by INSEAD faculty and taught at the world's leading business schools. Written with leading private equity firms and their advisors and rigorously tested in INSEAD’s MBA, EMBA and Executive Education programmes, each case makes for a compelling read.
The case book illustrates the managerial challenges and risk-reward dynamics common to private equity investment and covers the full spectrum of private equity strategies, including: Carve-outs in the US semiconductor industry (LBO); Venture investing in the Indian wine industry (VC); Investing in SMEs in the Middle East; Turnaround situations in both emerging and developed markets.
With increasing interest in private equity as an asset class and with its impressive returns shown in the last decade, PE funds are likely to continue to play an important role in channeling capital and expertise to deserving companies. Mastering Private Equity and Private Equity in Action are good references for investors, finance professionals, business owners, and students looking to engage in this industry.
The books are now available here.
About INSEAD, The Business School for the World
As one of the world's leading and largest graduate business schools, INSEAD brings together people, cultures and ideas to change lives and to transform organisations. A global perspective and cultural diversity are reflected in all aspects of our research and teaching.
With campuses in Europe (France), Asia (Singapore) and the Middle East (Abu Dhabi), INSEAD's business education and research spans three continents. The school’s 145 renowned Faculty members from 40 countries inspire more than 1,400 degree participants annually in its MBA, Executive MBA, Executive Master in Finance, Executive Master in Consulting and Coaching for Change and PhD programmes. In addition, more than 11,000 executives participate in INSEAD's executive education programmes each year.
In addition to INSEAD's programmes on its three campuses, INSEAD participates in academic partnerships with the Wharton School of the University of Pennsylvania (Philadelphia & San Francisco); the Kellogg School of Management at Northwestern University near Chicago; the Johns Hopkins University/SAIS in Washington DC and the Teachers College at Columbia University in New York; and MIT Sloan School of Management in Cambridge, Massachusetts. In Asia, INSEAD partners with School of Economics and Management at Tsinghua University in Beijing, and China Europe International Business School (CEIBS) in Shanghai. INSEAD is a founding member in the multidisciplinary Sorbonne University created in 2012, and also partners with Fundação Dom Cabral in Brazil.
INSEAD became a pioneer of international business education with the graduation of the first MBA class on the Fontainebleau campus in Europe in 1960. In 2000, INSEAD opened its Asia campus in Singapore. And in 2007 the school began an association in the Middle East, officially opening the Abu Dhabi campus in 2010.
Around the world and over the decades, INSEAD continues to conduct cutting edge research and to innovate across all its programmes to provide business leaders with the knowledge and sensitivity to operate anywhere. These core values have enabled INSEAD to become truly “The Business School for the World”.
INSEAD’s MBA programme is ranked #1 by the Financial Times in 2016 and 2017.
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