In Private Capital: The Complete Guide to Private Markets Investing, renowned private markets investor and expert Dr. Stefan W. Hepp delivers an insightful and comprehensive exploration of the history, nature, and influence of private market investing. The author offers a robust examination of the key practical and conceptual issues faced by investors as they move forward into the future.

In the book, you'll find fulsome discussions of the rise of private market investment following the conclusion of World War II, as well as why the limited partnership became the dominant investment vehicle for private equity. You'll also discover the importance of the convergence of technology, government, academia, and venture capital that came to define what we now know as Silicon Valley.

The book includes:

• Explanations of the emergence of buyout firms, as well as why and how buyouts differ from other forms of mergers and acquisitions
• Examinations of the explosive growth of private equity and other private asset classes since the turn of the millennium
• Discussions of the issues set to dominate the future of private markets, including ESG investing, value creation, unicorns, special purpose acquisition companies (SPACs), and more

A must-read book for regulators, investors, asset managers, entrepreneurs, founders, and other businesspeople, Private Capital will earn a place on the bookshelves of anyone with a stake or interest in private equity and other private asset classes.

PRAISE FOR PRIVATE CAPITAL

"This book not only demystifies the world of private markets investing but also provides invaluable insights into how individuals and businesses can harness the power of private capital to drive innovation, growth, and financial success."
- Prof. Dr. Dr. Ann-Kristin Achleitner, Scientific Director, Center for Entrepreneurial and Financial Studies - CEFS at the Technical University Munich

"A comprehensive, detailed and entertaining Tour d'Horizon of Private Equity. Love it."
-Dr. Marcel Erni, Co-Founder and Member of the Board of Directors of Partners Group

"Stefan Hepp has authored a tour de force for the alternative investment industry. Never before have we seen such an ambitious, sweeping and comprehensive overview, spanning centuries, continents and asset classes."
-Blair V. Jacobson, Partner, Co-Head of European Credit of Ares Management

"Stefan Hepp provides a broad and deep history of private capital in its many forms and manifestations. As such, Private Capital is extremely useful for anyone who wants to understand the past and present of private investing."
- Prof. Steven N. Kaplan, Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance at the University of Chicago Booth School of Business

" Private Capital is storytelling at its best, taking us on a detailed journey through the pivotal events alongside the visionaries who helped shape our industry and providing rich context to understand the current structure and form of an industry so vital to drive the growth economy."
-Walter G. Kortschak, Senior Advisor and former Managing Director of Summit Partners

"I thoroughly enjoyed the wonderfully written Private Capital -it is certain to be a classic about private investment markets."
-David. M. Rubenstein, Co-Founder and Co-Chairman of the Board, The Carlyle Group

"This book makes private markets investing public and I am sure students and PE practitioners all over the world will find Private Capital a fascinating must read."
-Christophe Sarrasin, CFA, CAIA, Director of the Nestlé Pension Fund

"Private Capital is both extremely well written and extremely comprehensive. This book should be required reading for every MBA student and for anyone entering this asset class as a profession."
-Brooks D. Zug, Co-Founder and Senior Managing Director Emeritus, HarbourVest

"Private Capital is the first book to provide a comprehensive and thorough overview of the evolution of today's ten trillion dollar industry since its infancy."
-Dr. Rüdiger R. Stucke, Senior Vice President, Head of Quantitative Research, Warburg Pincus LLC