Investment Banks, Hedge Funds, and Private Equity

The dynamic environment of investment banks, hedge funds, and private equity firms comes to life in David Stowell's introduction to the ways they challenge and sustain each other. Capturing their reshaped business plans in the wake of the 2007-2009 global meltdown, his book reveals their key functions, compensation systems, unique roles in wealth creation and risk management, and epic battles for investor funds and corporate influence. Its combination of perspectives-drawn from his industry and academic backgrounds-delivers insights that illuminate the post-2009 reinvention and acclimation processes. Through a broad view of the ways these financial institutions affect corporations, governments, and individuals, Professor Stowell shows us how and why they will continue to project their power and influence.

• Emphasizes the needs for capital, sources of capital, and the process of getting capital to those who need it
• Integrates into the chapters ten cases about recent transactions, along with case notes and questions
• Accompanies cases with spreadsheets for readers to create their own analytical frameworks and consider choices and opportunities

Autorentext

David P. Stowell is a professor of finance at Northwestern University's Kellogg School of Management, where he teaches classes that focus on investment banking, hedge funds and private equity. He also teaches undergraduate courses on these topics at Northwestern University, University of Utah, and Utah State University. Prior to joining Northwestern in 2005, he was managing director at JP Morgan, working in Chicago with responsibility for part of the firm's mid-west investment backing business. In addition, he worked in investment banking at UBS as managing director and co-head of U.S. equity capital markets, and at Goldman Sachs, where he managed an equity derivatives business and worked in corporate finance in New York and Tokyo. He was also a managing director at O'Connor Partners, a hedge fund based in Chicago. He graduated from Utah State University with a BA in Economics and from Columbia University's Graduate School of Business with an MBA in Finance. In addition to his current teaching responsibilities, he manages Paradigm Partners, a boutique investment bank that provided M&A and capital raising services and general advice in investment banking, hedge fund, and private equity activities to selected clients.

Inhalt

Section One: Investment Banking 1. Overview of Investment Banking 2. Regulation of the Securities Industry 3. Financings 4. Mergers and Acquisitions 5. Trading 6. Asset Management, Wealth Management and Research 7. Credit Rating Agencies, Exchanges and Clearing and Settlement 8. International Banking 9. Convertible Securities and Wall Street Innovation 10. Investment Banking Career Opportunities and Trends

Section Two: Hedge Funds and Private Equity 11. Overview of Hedge Funds 12. Hedge Fund Investment Strategies 13. Shareholder Activism and Impact on Corporations 14. Risk, Regulation and Organizational Structure 15. Hedge Fund Issues and Performance 16. Overview of Private Equity 17. LBO Financial Model 18. Private Equity Impact on Corporations 19. Organization, Compensation, Regulation and Limited Partners 20. Issues and Opportunities

Section Three: Case Studies 21. Investment Banking in 2008 (A): Rise and Fall of the Bear 22. Investment Banking in 2008 (B): A Brave New World 23. Freeport-McMoRan: Financing an Acquisition 24. The Best Deal Gillette Could Get? Procter & Gamble's Acquisition of Gillette 25. A Tale of Two Hedge Funds: Magnetar, Peloton, CDOs, and the 2008 Financial Crisis 26. Kmart, Sears, and ESL: How a Hedge Fund Became One of the World's Largest Retailers 27. McDonald's, Wendy's, and Hedge Funds: Hamburger Hedging? Hedge Fund Activism and Impact on Corporate Governance 28. Porsche, Volkswagen and CSX: Cars, Trains and Derivatives 29. The Toys "R" Us LBO 30. Cerberus and the U.S. Auto Industry