Venture Capital and Private Equity: A Casebook

The private equity industry is experiencing tremendous change. Buyout firms are raising funds of more than $20 billion; the sizes of venture funds are rising again toward the $1 billion mark. At the same time, the industry is globalizing at a rapid rate.This new Fourth Edition of Lerner and Hardymon's classic text reflects the current and future state of the industry as it introduces you to the private equity-venture capital process. Reviewing the history of private equity leading up to today's environment, the authors give you insight into the ways in which private equity groups work; the key distinctions in the industry; how the concepts of corporate finance are applied to private equity; and valuation approaches--popular techniques as well as less frequently used ones--in practice today.Through extensively updated real-world cases, Lerner and Hardymon examine: How private equity funds are raised and structured The features of private equity funds and the actors in the fundraising process Interactions between private equity investors and the entrepreneurs they finance The critical problems that companies in a private equity portfolio face Valuation approaches, from techniques widely used in practice to methods that are likely to be important in thefuture How private equity firms invest in, monitor, and add value to companies successful strategies fro exiting investment and returning capital to investors The international arena, with examples from Great Britain, Ireland, Germany, Argentina, and China Fundamental shifts in the industry and how firms are meeting the challengeBuilt upon the solid foundation of its acclaimed Previous editions but thoroughly updated to include the challenges of the 21st century, Venture Capital&Private Equity: A Casebook, Fourth edition remains an essential resource for current and aspiring private equity and venture capital professionals.