The Debt Trap: How leverage impacts private-equity performance - Image 1

£34.75

Harriman House The Debt Trap: How leverage impacts private-equity performance

Name: The Debt Trap: How leverage impacts private-equity performance
Brand: Harriman House
Price: 34.75 GBP
Availability: InStock

Venture Capital

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Price range: £35 - £36

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Description

This is the inside story of private equity dealmaking. Over the last 40 years, LBO fund managers have demonstrated that they are good at making money for themselves and their investors. But when one looks beneath the surface of the transactions they engineer, it is apparent that these deals can, at times, go spectacularly wrong. Through 14 business stories, all emanating from the noughties' credit bubble and including headline-grabbing names like Caesars, Debenhams, EMI, Hertz, Seat Pagine Gialle and TXU, The Debt Trap shows how, via controversial practices like quick flips, repeat dividend recaps, heavy cost-cutting and asset-stripping, leveraged buyouts changed, for better or for worse, the way private companies are financed and managed today. From technological disruption in the worlds of music recording and business-directory publishing to economic turbulence in the gambling, real estate and energy sectors, highly levered corporations are often incapable of handling market corrections when debt commitments start piling up. Behind the historical events and the financial empires erected by some of the elite private equity specialists, these 14 in-depth case studies examine how value-maximising techniques and a short-cut mentality can impact investment returns and portfolio assets. Whether you are a PE practitioner, investor, business manager, academic or business student, you will find The Debt Trap to be an authoritative and fascinating account. "Sebastien Canderle has written a genuinely compelling book that raises crucial questions about modern-day PE investment practices. The Debt Trap is a thoughtful and stimulating work that helps to frame the debate on value creation in the world of alternative finance." --- Pablo Fernandez, Professor of Financial Management and PricewaterhouseCoopers Chair of Corporate Finance at IESE Business School "Sebastien Canderle's book should be at the top of recommended reading lists for every finance course. It is a skilful critique of the fast-paced private equity industry. Drawing on a vast amount of research, The Debt Trap gives fascinating insights into some of the most illustrious leveraged buyouts, which will help to improve our teaching of finance and contribute to a sounder financial industry. For that reason it deserves to be read." --- Jacques Regniez, Professor of Economics and Finance at the State University of New York "A valuable contribution to the literature on private equity, The Debt Trap is an absorbing study of why leverage is a two-edged sword and should be used with utmost caution. The book is an important read for anyone involved in the private equity world or even the finance world at large." --- Jacob Wolinsky, CEO of ValueWalk

Key Features

The Debt Trap: How leverage impacts private-equity performance

Product type: ABIS BOOK

Brand: Harriman House Ltd - IPS

Product Specifications

Brand: Harriman House
Format: hardcover
ASIN: 0857195409
Category: Books > Subjects > Business, Finance & Law > Professional Finance > Venture Capital
Domain: Amazon UK
Release Date: 19 September 2016
Listed Since: 30 June 2016

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Harriman House The Debt Trap: How leverage impacts private-equity performance

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