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The New Tycoons
Inside the Trillion Dollar Private Equity Industry That Owns Everything
Jason Kelly (Author)
9781118205464, Wiley
Hardback, published 28 September 2012
256 pages
23.1 x 16 x 2.8 cm, 0.454 kg
Subtitled Inside the Trillion Dollar Private Equity Industry that owns Everything, Kelly tries to demystify the complex world of private equity through telling the stories of the leading characters and key firms in the industry. A Bloomberg news reporter, Kelly is familiar with his subject and he traces the mushrooming of this industry from a relatively small niche area of financial service into a globally powerful phenomenon. The book has a timely edge given the presidential candidacy of Mitt Romney, a former chief executive of Bain Capital, and is certainly well researched. Kelly notes that he is trained to look for surprise and that as he researched the book, the omnipresence of the industry surprised even him. So much is owned by the industry, and the appetite to run the numbers on businesses that are not, appears to be relentless. Kelly does his best to make the complex simple with glossaries and charts; it is a challenging read nonetheless. Although interesting for the general reader, the book will be of most interest to those who work in the global financial services industry and who can relate readily to the firms under consideration here. (Irishtimes.com, November 2012)
Inside the Trillion Dollar Industry That Owns Everything What do Dunkin' Donuts, J. Crew, Toys "R" Us, and Burger King have in common? They are all currently or just recently were owned, operated, and controlled by private equity firms. The New Tycoons: Inside the Trillion Dollar Private Equity Industry That Owns Everything takes the reader behind the scenes of these firms: their famous billionaire founders, the overlapping stories of their creation and evolution, and the outsized ambitions that led a group of clever bankers from small shops operating in a corner of Wall Street into powerhouse titans of capital. This is the story of the money and the men who handle it. Go inside the private worlds of founders Henry Kravis, Steve Schwarzman, David Bonderman, and more in The New Tycoons, and discover how these men have transformed the industry and built the some of the most powerful and most secretive houses of money in the world. Analyzing the founders and the firms at a crucial moment, when they've elevated themselves beyond their already lofty ambitions into the world of public opinion and valuation, New Tycoons looks at one of the most important, yet least examined, trillion-dollar corners of the global economy and what it portends for these new tycoons.
A Visual Tour of Private Equity xi Deciphering Private Equity xv Prologue xix Chapter 1 Find the Money 1 Chapter 2 All the Money in the World 19 Chapter 3 The L Word 43 Chapter 4 “When Was the Last Time You Bought a Toilet Seat?” 55 Chapter 5 Modern Art 73 Chapter 6 Put on Your Boots 95 Chapter 7 Aura of Cool 111 Chapter 8 Hundreds and Billions 123 Chapter 9 Take This Exit 141 Chapter 10 The Taxman Cometh 155 Chapter 11 It’s a Steve, Steve, Steve World 165 Chapter 12 Not-So-Private Equity 187 Afterword 199 Notes 203 Acknowledgments 211 About the Author 215 Index 217
Subject Areas: Finance & accounting [KF]
