The Complete Direct Investing Handbook - A Guide for Family Offices, Qualified Purchasers, Accredited Investor

Informationen zum Autor KIRBY ROSPLOCK, PhD, is founder and CEO of Tamarind Partners, a consulting firm that advises family offices, ultra-high-net-worth investors, and the wealth management industry. She is a researcher, scholar, educator, and well-respected speaker around the globe on family wealth, family office, and family business. She is also the author of The Complete Family Office Handbook . For more on Dr. Rosplock and Tamarind Partners, visit www.TamarindPartners.com. Klappentext The practical guide to direct investing strategies and best practices The Complete Direct Investing Handbook provides comprehensive guidelines, principles and practical perspectives on this increasingly attractive private equity investment strategy. Interviews with leading family office investors, qualified private equity buyers, and top direct investing advisors provide essential insights, and attention to the nuanced processes of direct investing. The books is a hands-on resource for family offices and those investors interested in generating returns through private company ownership to be more effective in creating returns in a complex market. Direct investing best practices are explored in-depth, with guidance on strategy and the evaluation and assessment of various investment opportunities. The process begins with a codified and specific investment goal, and a robust strategy tailored to the investor's individual needs. Useful insight on 'narrowing the field' helps investors select the appropriate opportunities to meet their investment goals, and practical tools help streamline the process of capital deployment and in turn providing more opportunities to achieve desired returns. Despite the growing interest in direct investing, there is little public information available to investors and there is a lack of transparency into practical standards. This book bridges the gap between strategy and execution, with comprehensive guidance and real-world insights. Define and craft a focused investment thesis and appropriate timeline specific to your needs Identify the right type, size, duration, and risk profile aligned to your investment objectives Gain perspective on real-world direct investing and a deeper understanding of the risks and rewards Better understand best practices and institutional investment rigor to develop bespoke processes and policies that create better outcomes for independent investors Historically, extraordinary wealth has been created through equity in privately-held enterprise. Today, family offices and direct investors are looking more and more toward large capital deployment in early-stage and growth-oriented private equity investments, but are constrained by a lack of informed, established practices. The Complete Direct Investing Handbook provides the much-needed guidance and tools that can improve direct investment outcomes. Zusammenfassung The practical guide to direct investing strategies and best practicesThe Complete Direct Investing Handbook provides comprehensive guidelines, principles and practical perspectives on this increasingly attractive private equity investment strategy. Interviews with leading family office investors, qualified private equity buyers, and top direct investing advisors provide essential insights, and attention to the nuanced processes of direct investing. The books is a hands-on resource for family offices and those investors interested in generating returns through private company ownership to be more effective in creating returns in a complex market. Direct investing best practices are explored in-depth, with guidance on strategy and the evaluation and assessment of various investment opportunities. The process begins with a codified and specific investment goal, and a robust strategy tailored to the investor's individual needs. Useful insight on 'narrowing the field' helps investors select t...

List of contents

Foreword xv
 
Preface xvii
 
Acknowledgments xxi
 
PART I: DIRECT INVESTING AND THE FAMILY OFFICE TEST
 
CHAPTER 1 Introduction to Direct Investing 3
 
2008: A Wakeup Call for Investors 5
 
Role of the Family Office and Private Investors 6
 
The Opportunity 9
 
Best Practices 10
 
Key Considerations 12
 
Conclusion 15
 
Notes 16
 
CHAPTER 2 The Emerging Presence of Private Capital in Direct Investing 18
 
Contributing Authors: Nathan Hamilton and Sara Hamilton
 
The Family Office Marketplace 19
 
The Unique Benefits of Private Capital 21
 
Increased Interest in Private Equity 24
 
Conclusion 30
 
CHAPTER 3 Co-Investment Strategies in Direct Investing 32
 
Defining Co-Investing and Providing Context 32
 
Insights on the Popularity of Co-Investing 33
 
Interest in Co-Investment Strategies 33
 
Roles of the Co-Investor 35
 
Going Solo: Why Co-Investing May Not Be Your Choice 40
 
The Perils and Pearls of Co-Investing 41
 
Vetting Co-Investors 44
 
Club Deals 46
 
Mini Case Study 51
 
Conclusion 51
 
Notes 52
 
CHAPTER 4 Private Equity Strategies: Characteristics and Implications 54
 
Contributing Author: David McCombie
 
What Is Private Equity? 55
 
Real Estate 58
 
Venture Capital 62
 
Growth Capital 72
 
Buyouts 75
 
Mezzanine Financing 78
 
Distressed Assets 81
 
Conclusion: Putting It All Together 85
 
Notes 86
 
PART II: DIRECT INVESTING IN ACTION
 
CHAPTER 5 Family Office Considerations to the Direct Investment Process 91
 
Source of Wealth: Lens of the Family Office 92
 
SWOT Analysis for Direct Investing 93
 
Three Phases to the Direct Investing Process 94
 
AThree-Phase Direct Investing Process 97
 
Case Study 111
 
Conclusion 113
 
Notes 114
 
CHAPTER 6 Designing a Direct Investment Thesis 115
 
Defining the Direct Investment Thesis 115
 
Asset Mix and the Direct Investment Thesis 117
 
Family Pathways and the Direct Investment Thesis 119
 
The Barbell Approach and the Direct Investment Thesis 122
 
Entrepreneurial Orientation and the Direct Investment Thesis 124
 
Family Investment Style and the Direct InvestmentThesis 128
 
Case Study 132
 
Conclusion 137
 
Notes 138
 
CHAPTER 7 Sourcing, Deal Flow, Screening, and Deploying Direct Investments 141
 
Contributing Author: Euclid Walker
 
Industry Professionals and Thought Leaders 142
 
Investment Bankers/Business Brokers 143
 
Professional Service Providers 144
 
Commercial Banks 144
 
Private Equity Funds/Family Offices 145
 
Screening Process 146
 
Due Diligence 151
 
Investment Memorandum 154
 
Investment Decision Process 155
 
Conclusion 156
 
Notes 156
 
CHAPTER 8 Direct Investments: Deal Structures, Terms, and Portfolio Construction 157
 
Contributing Author: Jolyne Caruso
 
How to Get Started 158
 
Portfolio Construction 159
 
The Capital Stack 160
 
Equity Transactions 162
 
Types of Debt Instruments 165
 
Mezzanine Debt 166
 
Case Study: Early-Stage Solar Energy Finance Company 168
 
A Primer on Important Term Sheet Items 170
 
Conclusion 175
 
CHAPTER 9 Investment Monitoring, Exit Strategies, and Harvesting Returns 177
 
Contributing Author: Ad

Product details

• Authors: Ross Brien, O&apos, Ross O'Brien, Kirby Rosplock, Kirby O''brien Rosplock
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 31.08.2016
• EAN: 9781119094715
• ISBN: 978-1-119-09471-5
• No. of pages: 368
• Dimensions: 163 mm x 240 mm x 32 mm
• Series: Bloomberg Professional; Bloomberg Financial; Bloomberg Professional; Bloomberg Financial
• Subjects: Social sciences, law, business > Business; Finanzwesen, Finance & Investments, Finanz- u. Anlagewesen, Spezialthemen Finanz- u. Anlagewesen, Finance & Investments Special Topics