Private Equity: Opportunities and Risks

Part I Introduction
1. Private Equity: An Overview
H. Kent Baker, Greg Filbeck, and Halil Kiymaz
2. The Economics of Private Equity: Background and Benefits
Shantanu Dutta, Arup Ganguly, and Lin Ge
3. Private Equity in the United States and Europe: Market and Regulatory Developments Alexandros Seretakis
Part II Major Types of Private Equity
4. Venture Capital in Europe: Myths and Reality
Jean-Michel Sahut and Eric Braunne
5. Leveraged Buyouts
Christian Rauch and Marc P. Umber
6. Mezzanine Capital and Commercial Real Estate
J. Dean Heller
7. Distressed Investments
Stephen G. Moyer and John D. Martin
Part III How Private Equity Works
8. Valuing Private Equity
Harlan Platt and Emery Trahan
9. Cost of Capital for Private Equity
Alain Coën and Aurelie Desfleurs
10. Liquidity Issues in Private Equity: Lessons Learned in the Post-Financial Crisis
Elif Akben Selcuk and Ayse Altiok Yilmaz
11. Private Equity Portfolio Management: Challenges, Approaches, and Implementation Thomas Meyer and Tom Weidig
12. The Role of Private Equity in IPOs: The Case of Venture Capital Firms
Shantanu Dutta, Arup Ganguly, and Lin Ge
13. Exit Strategies in Private Equity
Didier Folus and Emmanuel Boutron
Part IV Performance and Measurement
14. Historical Performance of Private Equity: Cross-Country Evidence
Kenneth Small and Jeff Smith,
15. Benchmark Biases in Private Equity Performance
Robert Spliid
16. Return Persistence: Finding a Top Quartile Manager
Adrian Oberli
17. Private Equity Due Diligence
Manu Sharma and Esha Prashar
Part V Private Equity: Uses and Structure
18. Institutional Investors and Private Equity
Parvez Ahmed
19. Private Equity and Value Creation
Peter Harbula
20. Compensation Structure
Ji-Woong Chung
21. Global Regulatory and Ethical Framework
Henry Ordower
Part VI Trends in Private Equity
22. Private Investment in Public Equity
Na Dai
23. Listed Private Equity
Douglas Cumming, Grant Fleming, and Sofia Johan
24. Private Equity Growth in International and Emerging Markets
Alexander Peter Groh
25. Diversification Benefits of Private Equity Funds-of-Funds
Alex Buchner and Markus Kuffner
26. Publicly Traded Private Equity
Henry Lahr
27. The Future of Private Equity: A Global Perspective
Dianna Preece

H. Kent Baker is a University Professor of Finance in the Kogod School of Business at American University. Professor Baker has authored or edited 24 books and has published more than 150 refereed articles in such journals as the Journal of Finance, Journal of Financial and Quantitative Analysis, Financial Management, Financial Analysts Journal, and Journal of Portfolio Management. He has consulting and training experience with more than 100 organizations.

Greg Filbeck is a Samuel P. Black III Professor of Finance and Risk Management at Penn State Erie, the Behrend College and serves as Associate Director and Department Chair of Finance & Economics for the Black School of Business. Professor Filbeck has authored or edited seven books and published more than 75 refereed academic journal articles appearing in such journals as the Financial Analysts Journal, Financial Review, and Journal of Business, Finance, and Accounting.

Halil Kiymaz is Bank of America Professor of Finance in the Crummer Graduate School of Business at Rollins College. Professor Kiymaz has published more than 70 articles in scholarly and practitioner journals and co-edited three books. His research has appeared in such journals as the Journal of Banking and Finance, Financial Review, Global Finance Journal, Journal of Applied Finance, Journal of Economics and Finance, and Review of Financial Economics. Professor Kiymaz also serves on the editorial board of four journals and is the area editor of the International Journal of Emerging Markets. He has consulting and training experience with various organizations.

Contributors: 
Parvez Ahmed 
Ayse Dilara Altiok Yilmaz 
Emmanuel Boutron 
Eric Braune 
Axel Buchner 
Ji-Woong Chung 
Alain Coën 
Douglas Cumming
Na Dai 
Aurélie Desfleurs 
Shantanu Dutta 
Grant Fleming 
Didier Folus 
Arup Ganguly 
Lin Ge 
Alexander Groh 
Péter Harbula 
Dean Heller 
Sofia A. Johan 
Markus Kuffner 
Henry Lahr 
John D. Martin 
Thomas Meyer 
Stephen G. Moyer 
Adrian Oberli 
Henry Ordower 
Harlan Platt 
Esha Prashar 
Dianna C. Preece 
Christian Rauch 
Jean-Michel Sahut 
Elif Akben Selcuk 
Alexandros Seretakis 
Manu Sharma 
Kenneth Small 
Jeff Smith 
Robert Spliid 
Emery A. Trahan 
Marc P. Umber 
Tom Weidig