Friday, October 26, 2007

Two Videos on Private Equity

World Economic Forum Davos: The Globalization of Private Equity

Berkeley China Initiative: Private Equity in China

1 comment:

Aseem Giri, Author of "Imposters at the Gate" said...

For an interesting view of private equity from the trenches, check out "Imposters at the Gate: A Novel about Private Equity". Below is some additional information.

Praise for "Imposters at the Gate: A Novel about Private Equity":

"A must read for anyone in private equity or trying to get into private equity" -- L. Kay, former private equity professional

"The 'Bonfire of the Vanities' of this era" -- Wrigley Astor, retired finance professional

"A John Grisham for business" -- Stephen Cho, deal lawyer

"A Private Equity 'Monkey Business' - If you are [in] a private equity firm, if you are an entrepreneur wanting to get funded by some of these firms, or if you are a sideline player who is working to help structure a deal, you MUST read this book. " -- John Grounds, business advisor and speaker

The book has received 13 enthusiastic reviews on (11 five-star and two four-star).

Amazon link:

Some additional quick excerpts:

"...wonderfully written..."

"...exhilarating tale..."

"...a lively, entertaining story..."

"...Mr. Giri...has a keen grasp of the business..."

" are going to enjoy this fictional look into the world of private equity..."

"...[a] thoroughly accessible and delightful page-turner..."

Some in-depth reviews:

"I am as interested to see the progression of this book through the industry as I was to see the progression of the main character through the story. I would not be surprised to see this novel make an appearance on the reading lists at the top business schools. I think it perfectly illustrates many of the ethical and moral dilemmas that face the industry on a daily basis. Ethics professors would be well served by adding it to the required "read and debate" list. When I first looked at the book I was a little concerned. Anything over 300 pages by a first time author makes me hesitant. The opening pages started rough, but my perseverance to continue was rewarded with a fantastic voyage. There is a chilling reality to this entire book. I have been unfortunate enough to see the industry from a few different angles, and the truth in this story brings back more than a couple nauseating memories. If you are an associate at a private equity firm, if you are an entrepreneur wanting to get funded by some of these firms, or if you are a sideline player who is working to help structure a deal, you MUST read this book. It doesn't only give an incredible insight into some of the pressures surrounding the parties, but it touches on a bit of the expectations pre and post closing. It shows private equity in a way "Hell's Kitchen" shows what it is like to be a Chef. You aren't going to get the recipes, but you will have a far greater appreciation of what goes on in the kitchen." -- John Grounds, Founder and Managing Director, Increased Lifestyle Associates

"In Imposters at the Gate, Aseem Giri transports the reader into the heart of the World of Private Equity, immersing us in the excitement that motivates financial professionals to seek this career path: Earning wealth through the value one contributes to a Company created through the vision, hard work and dreams of others. The challenge that Aseem masterfully achieves is convincingly transporting us to this World in the form of a thoroughly accessible and delightful page-turner, without losing the essence (the thrills and the conflicts) that makes this career path so seductive. I also love the way Aseem conveys thrill - and the challenge- of Private Equity through an Ayn Randesque contrast between value-creators (Ash, David, Samuel, Benson and Max) who embody Private Equity's virtues and the "Looters" (Lasi, Eddie and the Elves) who embody its temptations/conflicts - who extract any value produced by companies they invest for their own self-interest. Imposters at The Gate's Looters do this through the publicly-held vehicle of Popular Capital, a "multi-billion dollar" private equity firm headed by Lasi, who built Popular Capital "from scratch, figuring out clever ways to get people to part with their money". Lasi's description is reminiscent of Mr. Thompson in Atlas Shrugged: "Lasi looked like a man of the people. He blended into a crowd. He had no discerning characteristics". I was delighted when Aseem artfully rewards fans of Atlas Shrugged by having Ash, who tragically fails to create virtue while he is a Partner in Popular Capital (a tragic and unwilling servant of the Looters like Dagny Taggart and Hank Reardon in Atlas Shrugged), sees the light through his love for Sophie who tells him that she loves him, but cannot stay with him unless he leaves Popular Capital. . .I could only smile when Ash completes the transformation - unmasking Popular Capital by posing as an "Mr A. Yand Rand from Fountainhead Capital" on their Investor call. I strongly recommend Imposters at the Gate - and commend Aseem Giri for his achievement and Tusk Publishing for its vision in bringing this work to light. I look forward to reading more of Giri's work, and reviewing future Tusk Publishing publications." --Pavlos Mavrides, Partner, Provident Group

"A hugely successful yet restless financier breaks free and learns lessons that money can't buy. Over the past five years from his home in Los Angeles, Ashwin "Ash" Gyan has generated eight million dollars in revenue for Popular Capital, a publicly-traded New York private-equity firm. And his efforts haven't gone unnoticed. Ash is swiftly promoted to firm partner after he closes the biggest deal of his career. But he remains dissatisfied and despondent, unable to appreciate his newfound success in the financial marketplace. After a sluggish start, Giri (obviously drawing from his own experience as a young Wall Street success story) creates a whirlwind of executive trouble for his harmless, good-natured protagonist. Ash's mentor, Samuel, encourages him to move on to a different company, but Ash remains overworked and grossly underpaid by Popular Capital's autocratic president and founder, Lasi. Ash's pleas for perks and fair compensation garner nothing, leading him to opportunities managing other company's capital funds independently (with aid from contemporaries Benson and Max), until duplicitous actions (and an insurance-related disaster) by "friendly" associates throw a wrench into their plans. All's not lost for Ash, though, and Popular Capital's eventual downfall proves sweet revenge. Giri does a commendable job of creating a believable supporting cast, from the deplorable (calculated associate Eddie Cache and deceitful CEO Lasi) to the adorable (Ash's romantic interest, Sophie). Readers unfamiliar with the financial-services industry may get lost in the jargon and acrobatics of this complex trade, but the office politics prove compelling. The clunky start gives way to a lively, entertaining story about the intoxicating allure of money." -- Kirkus