免费下载书籍地址：PDF下载地址
精美图片
风险资本投资基金计划管理BEYOND THE J CURVE - MANAGING A PORTFOLIO OF书籍详细信息
- ISBN：9780470011980
- 作者：暂无作者
- 出版社：暂无出版社
- 出版时间：2005-12
- 页数：364
- 价格：699.70
- 纸张：胶版纸
- 装帧：精装
- 开本：暂无开本
- 语言：未知
- 丛书：暂无丛书
- TAG：暂无
- 豆瓣评分：暂无豆瓣评分
内容简介：
In recent times, venture capital and private equity funds have become household names, but so far little has been written for the investors in such funds, the so-called limited partners. There is far more to the management of a portfolio of venture capital and private equity funds than usually perceived. Beyond the J Curve describes an innovative toolset for such limited partners to design and manage portfolios tailored to the dynamics of this market place, going far beyond the typical and often-simplistic recipe to ‘go for top quartile funds’.
Beyond the J Curve provides the answers to key questions, including:
Why ‘top-quartile’ promises should be taken with a huge pinch of salt and what it takes to select superior fund managers?
What do limited partners need to consider when designing and managing portfolios?
How one can determine the funds’ economic value to help addressing the questions of ‘fair value’ under IAS 39 and ‘risk’ under Basel II or Solvency II?
Why is monitoring important, and how does a limited partner manage his portfolio?
How the portfolio’s returns can be improved through proper liquidity management and what to consider when over-committing?
And, why uncertainty rather than risk is an issue and how a limited partner can address and benefit from the fast changing private equity environment?
Beyond the J Curve takes the practitioner’s view and offers private equity and venture capital professionals a comprehensive guide making high return targets more realistic and sustainable. This book is a must have for all parties involved in this market, as well as academic and students
书籍目录：
List of Boxes.
Acknowledgements.
Disclaimer.
PART I: PRIVATE EQUITY ENVIRONMENT.
1. Introduction.
1.1 Routes into private equity.
1.2 The limited partner’s viewpoint.
1.3 The challenge of venture capital fund valuation.
1.4 Hard figures or gut instinct?
1.5 Managing with fuzzy figures.
1.6 Making the grades.
1.7 Outline.
2. Private Equity Market.
2.1 Funds as intermediaries.
2.2 The problem of predicting success.
2.3 Broad segmentation of investment universe.
2.4 Private equity market dynamics.
2.5 Conclusion.
3. Private Equity Fund Structure.
3.1 Key features.
3.2 Conflicts of interest.
3.3 Finding the balance.
4. Buyout and Venture Capital Fund Differences.
4.1 Differences between venture capital and buyouts.
5. Funds-of-funds.
5.1 Structure.
5.2 Value added.
5.3 Costs.
5.4 Private equity investment programme.
Appendix.
5A.1 Payout schedules.
PART II: INVESTMENT PROCESS.
6. Investment Process.
6.1 Key performance drivers.
6.2 Process description.
6.3 Risk management.
6.4 Tackling uncertainty.
7 Risk Framework.
7.1 Market value.
7.2 Market or credit risk?
7.3 Conclusion.
8. Portfolio Design.
8.1 Portfolio design framework.
8.2 Portfolio construction techniques.
8.3 Risk–return management approaches.
9. Case Study.
9.1 Looking for the optimal programme size.
9.2 Overcoming entry barriers: long-term strategies.
10. The Management of Liquidity.
10.1 Liquidity management problem.
10.2 Liquidity management approaches.
10.3 Investment strategies for undrawn capital.
10.4 Cash flow projections.
10.5 Conclusion.
PART III: DESIGN TOOLS.
11. Established Approaches to Fund Valuation.
11.1 Bottom-up approach to private equity fund valuation.
11.2 Inconsistency of valuations.
11.3 NAVs do not tell the full picture.
11.4 Portfolio companies cannot be valued in isolation.
11.5 Conclusion.
12. Benchmarking.
12.1 Specific issues.
12.2 Individual funds.
12.3 Portfolio of funds.
13. A Prototype Internal Grading System.
13.1 Grading of private equity funds.
13.2 The NAV is not enough.
13.3 Existing approaches.
13.4 New approach to internal fund-grading system.
13.5 Summary—NAV- and grading-based valuation.
13.6 Discussion.
13.7 Conclusion
Appendix 13A.
14. Fund Manager Selection Process.
14.1 Relevance of fund manager selection.
14.2 Why due diligence?
14.3 The due diligence process.
14.4 Fund manager selection process.
14.5 Decision and commitment.
15. Qualitative Fund Scoring.
15.1 Scoring approach.
15.2 Scoring dimensions.
16. Grading-based Economic Model.
16.1 Approach.
16.2 Internal age adjustment.
16.3 Private equity fund IRR projections.
16.4 Expected portfolio returns.
16.5 Discussion.
16.6 Conclusion.
17. Private Equity Fund Discount Rate.
17.1 The capital asset pricing model.
17.2 Private equity fund betas.
17.3 The alternatives to the capital asset pricing model.
17.4 Summary.
PART IV: MANAGEMENT TOOLS.
18. Monitoring.
18.1 Approach to monitoring.
18.2 The monitoring objectives.
18.3 Information gathering.
18.4 Evaluation.
18.5 Actions.
19. Case Study: Saving Your Investments—Approaches to Restructuring.
19.1 The valley of tears.
19.2 The report to the board.
19.3 The terms of the restructuring.
19.4 Epilogue.
20. Secondary Transactions.
20.1 Sellers and their motivations.
20.2 Buyers and their motivations.
20.3 Secondary market prices.
20.4 Transactional issues.
20.5 The fund manager perspective.
PART V: EMBRACING UNCERTAINTY.
21. Deviating from Top funds.
21.1 Strategic investments.
21.2 Policy objectives.
22. Real Options.
22.1 Real options in private equity.
22.2 Real option analysis.
22.3 An expanded strategy and decision framework.
23. Beyond the J-curve.
23.1 Some do it better.
23.2 Deadly sins.
23.3 Structure instead of “gut instinct”.
23.4 Patience is a virtue.
23.5 Turning water into wine.
Glossary.
Bibliography.
Abbreviations.
Index.
作者介绍：
暂无相关内容，正在全力查找中
出版社信息：
暂无出版社相关信息，正在全力查找中！
书籍摘录：
暂无相关书籍摘录，正在全力查找中！
在线阅读/听书/购买/PDF下载地址：
在线阅读地址：风险资本投资基金计划管理BEYOND THE J CURVE - MANAGING A PORTFOLIO OF在线阅读
在线听书地址：风险资本投资基金计划管理BEYOND THE J CURVE - MANAGING A PORTFOLIO OF在线收听
在线购买地址：风险资本投资基金计划管理BEYOND THE J CURVE - MANAGING A PORTFOLIO OF在线购买
原文赏析：
If we could, we would be spending our time differently...sigh!
其它内容：
编辑推荐
作者简介：
DR THOMAS MEYER studied computer science at the Bundeswehr Universitat in Munich followed by doctoral studies at the University of Trier. He also holds an MBA from the London Business School. After 12 years in the German Air Force he worked for the German insurance group Allianz AG in Corporate Finance and M&A with particular focus on Japan, and as the regional Chief Financial Officer of Allianz Asia Pacific in Singapore.
书籍介绍
In recent times, venture capital and private equity funds have become household names, but so far little has been written for the investors in such funds, the so--called limited partners. There is far more to the management of a portfolio of venture capital and private equity funds than usually perceived. Beyond the J Curve describes an innovative toolset for such limited partners to design and manage portfolios tailored to the dynamics of this market place, going far beyond the typical and often--simplistic recipe to 'go for top quartile funds'. Beyond the J Curve provides the answers to key questions, including: * Why 'top--quartile' promises should be taken with a huge pinch of salt and what it takes to select superior fund managers? * What do limited partners need to consider when designing and managing portfolios? * How one can determine the funds' economic value to help addressing the questions of 'fair value' under IAS 39 and 'risk' under Basel II or Solvency II? * Why is monitoring important, and how does a limited partner manage his portfolio? * How the portfolio's returns can be improved through proper liquidity management and what to consider when over--committing? * And, why uncertainty rather than risk is an issue and how a limited partner can address and benefit from the fast changing private equity environment? Beyond the J Curve takes the practitioner's view and offers private equity and venture capital professionals a comprehensive guide making high return targets more realistic and sustainable. This book is a must have for all parties involved in this market, as well as academic and students.
书籍真实打分
故事情节：9分
人物塑造：6分
主题深度：8分
文字风格：6分
语言运用：6分
文笔流畅：8分
思想传递：6分
知识深度：3分
知识广度：8分
实用性：5分
章节划分：4分
结构布局：6分
新颖与独特：3分
情感共鸣：3分
引人入胜：9分
现实相关：5分
沉浸感：7分
事实准确性：4分
文化贡献：4分
网站评分
书籍多样性：6分
书籍信息完全性：8分
网站更新速度：8分
使用便利性：5分
书籍清晰度：9分
书籍格式兼容性：8分
是否包含广告：4分
加载速度：4分
安全性：4分
稳定性：6分
搜索功能：4分
下载便捷性：4分
下载点评
- 一般般(602+)
- 无缺页(677+)
- 目录完整(167+)
- 格式多(97+)
- 体验满分(442+)
- 已买(650+)
- 傻瓜式服务(162+)
- 下载速度快(231+)
- 少量广告(589+)
下载评价
网友 邱***洋：不错，支持的格式很多
网友 石***致：挺实用的，给个赞！希望越来越好，一直支持。
网友 宫***玉：我说完了。
网友 冷***洁：不错，用着很方便
网友 后***之：强烈推荐！无论下载速度还是书籍内容都没话说 真的很良心！
网友 詹***萍：好评的，这是自己一直选择的下载书的网站
网友 丁***菱：好好好好好好好好好好好好好好好好好好好好好好好好好
网友 习***蓉：品相完美
网友 冯***卉：听说内置一千多万的书籍，不知道真假的
网友 谭***然：如果不要钱就好了
网友 孙***美：加油！支持一下！不错，好用。大家可以去试一下哦
网友 焦***山：不错。。。。。
网友 辛***玮：页面不错 整体风格喜欢
网友 芮***枫：有点意思的网站，赞一个真心好好好 哈哈