Investment Banks, Hedge Funds, and Private Equity 4th Edition
Author(s): David P. Stowell (Author), Paul Stowell (Author)
Publisher: Academic Press
Publication Date: 24 Sept. 2023
Edition: 4th
Language: English
Print length: 784 pages
ISBN-10: 0323884512
ISBN-13: 9780323884518
Book Description
Investment Banks, Hedge Funds, and Private Equity, Fourth Edition provides a real-world view of this fast-evolving field, reviewing and analyzing recent innovations and developments. This reference captures the actual work of bankers and professional investors, providing readers with templates for real transactions and insight on how investment banks, hedge funds, and private equity firms provide services to each other while creating opportunities for corporations and investors to raise capital, invest, hedge, finance, acquire, divest, and risk manage. For each type of institution, the business model, organizational structure, products, challenges, regulatory issues, and profit-making opportunities are explained.
In addition, specific transactions are analyzed to make clear how advisory services, financings, investments, and trades produce profits or losses, and which types of risks are most commonly taken by each type of institution. Importantly, the linkage of investment banks, hedge funds, and private equity to corporations, governments, and individuals is described, enabling the reader to more clearly understand how these organizations impact them and how their products and services can be best utilized.
Integrates case studies with relevant chapters in the book to create real world applications of chapter teachings
Employs spreadsheet models to enable readers to create analytical frameworks for considering choices, opportunities, and risks described in the cases
Analyzes specific transactions to make clear how advisory services, financings, investments, and trades produce profits or losses
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Examines the unique nature of investment banks, private equity firms and hedge funds, including how their relationships drive financial markets
From the Back Cover
As our economy evolves, private equity groups, hedge funds, and investment banks compete and cooperate in different ways. Investment Banks, Hedge Funds, and Private Equity 4th Edition, now fully updated in its Fourth Edition, provides a real-world view of the fast-evolving field, reviewing and analysing recent innovations and developments. The text captures the actual work of bankers and professional investors, providing readers with templates for real transactions. It provides insight on how investment banks, hedge funds and private equity firms provide services to each other, while creating opportunities for corporations and investors to raise capital, invest, hedge, finance, acquire, divest and risk manage. For each type of institution, the business model, organizational structure, products, challenges, regulatory issues and profit making opportunities are explained. In addition, specific transactions are analysed to make clear how advisory services, financings, investments and trades produce profits or losses, and which types of risks are most commonly taken by each type of institution. Importantly, the linkage of investment banks, hedge funds and private equity to corporations, governments and individuals is described, enabling the reader to more clearly understand how these organizations impact them and how their products and services can be best utilized.
About the Author
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, private equity and venture capital. He also teaches undergraduate courses on these topics at Northwestern 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 banking 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 co-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 firm that provides M&A and capital raising services and general advice regarding investment banking, hedge fund, and private equity activities to selected clients.
Paul Stowell is a managing director and head of the U.S. Strategic Equity Transactions Group at Jefferies LLC. He has previously been managing director at Deutsche Bank, originating, structuring and executing convertible financings, corporate equity derivatives and margin loans on concentrated equity stakes. Earlier in his career he worked at UBS as an exotic equity derivatives trader and subsequently as a convertible bond trader. He designed and led auctions to facilitate the largest-ever sales of warrants for cash, raising over $7 billion in total including $1.8 billion in the largest offering. He has designed and sold unique equity-linked securities to help companies raise capital for special circumstances. He has helped many companies repurchase stock in a thoughtful manner, and worked with large shareholders on hedging and structured monetization transactions. As an adjunct instructor, he has taught semester-long courses on Investment Banking and on Hedge Funds & Private Equity at universities including the University of Utah, and has also been a guest lecturer at multiple universities on sales & trading and other topics. Paul graduated from Yale University with a BA in Economics.
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