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| ares management private equity: Private Equity Orice M. Williams, 2009-05 The increase in leveraged buyouts (LBO) of U.S. companies by private equity funds prior to mid-2007 has raised questions about the potential impact of these deals. Some praise LBOs for creating new governance structures for companies and providing longer term investment opportunities for investors. Others criticize LBOs for causing job losses and burdening companies with too much debt. This report addresses the: (1) effect of recent private equity LBOs on acquired companies and employment; (2) impact of LBOs jointly undertaken by two or more private equity funds on competition; (3) SEC¿s oversight of private equity funds and their advisers; and (4) regulatory oversight of commercial and investment banks that have financed recent LBOs. Illustrations. |
| ares management private equity: Private Equity Harold Kent Baker, Greg Filbeck, Halil Kiymaz, 2015 During the past few decades, private equity (PE) has attracted considerable attention from investors, practitioners, and academicians. In fact, a substantial literature on PE has emerged. PE offers benefits for institutional and private wealth management clients including diversification and enhancement of risk-adjusted returns. However, several factors such as liquidity concerns, regulatory restrictions, and the lack of transparency limit the attractiveness of some PE options to investors. The latest volume in the Financial Markets and Investments Series, Private Equity: Opportunities and Risks offers a synthesis of the theoretical and empirical literature on PE in both emerging and developed markets. Editors H. Kent Baker, Greg Filbeck, Halil Kiymaz and their co-authors examine PE and provide important insights about topics such as major types of PE (venture capital, leveraged buyouts, mezzanine capital, and distressed debt investments), how PE works, performance and measurement, uses and structure, and trends in the market. Readers can gain an in-depth understanding about PE from academics and practitioners from around the world. Private Equity: Opportunities and Risks provides a fresh look at the intriguing yet complex subject of PE. A group of experts takes readers through the core topics and issues of PE, and also examines the latest trends and cutting-edge developments in the field. The coverage extends from discussing basic concepts and their application to increasingly complex and real-world situations. This new and intriguing examination of PE is essential reading for anyone hoping to gain a better understanding of PE, from seasoned professionals to those aspiring to enter the demanding world of finance. |
| ares management private equity: Active Private Equity Real Estate Strategy David J. Lynn, 2009-07-30 Proven private equity real estate investing strategies The subprime fallout and credit crisis have triggered a major transition in U.S. real estate. With tightening lending and underwriting standards, speculative investments and construction projects are likely to limited, resulting in constrained supply and healthier fundamentals over the long term. Looking forward, market participants anticipate that the coming years will be fraught with challenges as well as opportunities. Active Private Equity Real Estate Strategy is a collection of abridged market analyses, forecasts, and strategy papers from the ING Clarion Partners' Research & Investment Strategy (RIS) group. Divided into two comprehensive parts, this practical guide provides you with an informative overview of real estate markets, forecasts, and recent trends in part one, and presents specific active strategies in private equity real estate investing in part two. Includes a simulation of the economy in recession and the expected effects on the commercial real estate industry Offers examples of portfolio analysis and recommendations using ING Clarion's forecasts and Modern Portfolio Theory Focuses on multifamily, hotel, land, and industrial investments Demonstrates the use of the various tools available to the private equity real estate investor Written with both the individual and institutional real estate investor in mind, this book offers specific private equity strategies for investing in real estate during volatile times. |
| ares management private equity: Investment Banks, Hedge Funds, and Private Equity David P. Stowell, 2012-09-01 The dynamic environment of investment banks, hedge funds, and private equity firms comes to life in David Stowell's introduction to the ways they challenge and sustain each other. Capturing their reshaped business plans in the wake of the 2007-2009 global meltdown, his book reveals their key functions, compensation systems, unique roles in wealth creation and risk management, and epic battles for investor funds and corporate influence. Its combination of perspectives—drawn from his industry and academic backgrounds—delivers insights that illuminate the post-2009 reinvention and acclimation processes. Through a broad view of the ways these financial institutions affect corporations, governments, and individuals, Professor Stowell shows us how and why they will continue to project their power and influence. - Emphasizes the needs for capital, sources of capital, and the process of getting capital to those who need it - Integrates into the chapters ten cases about recent transactions, along with case notes and questions - Accompanies cases with spreadsheets for readers to create their own analytical frameworks and consider choices and opportunities |
| ares management private equity: Chains of Finance Diane-Laure Arjaliès, Philip Grant, Iain Hardie, Donald A. MacKenzie, Ekaterina Svetlova, 2017 This book suggests that investment decisions cannot be understood by focusing on isolated investors. Rather, most of their money flows through a chain: a sequence of intermediaries that 'sit between' savers and companies/governments. It argues that investment management is shaped by the opportunities and constraints that this chain creates. |
| ares management private equity: Emerging Market Real Estate Investment David J. Lynn, 2010-09-14 Emerging markets in real estate investing have been an increasing focus for institutional real estate investors worldwide. Part of the Fabozzi series, this book is an insightful overview of international real estate focusing on three of the BRICs: China, India, and Brazil. The authors provide a framework for thinking about these dynamic markets characterized by youthful populations, extraordinary demand, capital inefficiency, and aspiration. Also discussed are the sociopolitical issues, policy, and entry/exit strategies. Notably, the book makes a sanguine assessment of the risks and opportunities of alternative strategies in each country. |
| ares management private equity: Private Equity at Work Eileen Appelbaum, Rosemary Batt, 2014-03-31 Private equity firms have long been at the center of public debates on the impact of the financial sector on Main Street companies. Are these firms financial innovators that save failing businesses or financial predators that bankrupt otherwise healthy companies and destroy jobs? The first comprehensive examination of this topic, Private Equity at Work provides a detailed yet accessible guide to this controversial business model. Economist Eileen Appelbaum and Professor Rosemary Batt carefully evaluate the evidence—including original case studies and interviews, legal documents, bankruptcy proceedings, media coverage, and existing academic scholarship—to demonstrate the effects of private equity on American businesses and workers. They document that while private equity firms have had positive effects on the operations and growth of small and mid-sized companies and in turning around failing companies, the interventions of private equity more often than not lead to significant negative consequences for many businesses and workers. Prior research on private equity has focused almost exclusively on the financial performance of private equity funds and the returns to their investors. Private Equity at Work provides a new roadmap to the largely hidden internal operations of these firms, showing how their business strategies disproportionately benefit the partners in private equity firms at the expense of other stakeholders and taxpayers. In the 1980s, leveraged buyouts by private equity firms saw high returns and were widely considered the solution to corporate wastefulness and mismanagement. And since 2000, nearly 11,500 companies—representing almost 8 million employees—have been purchased by private equity firms. As their role in the economy has increased, they have come under fire from labor unions and community advocates who argue that the proliferation of leveraged buyouts destroys jobs, causes wages to stagnate, saddles otherwise healthy companies with debt, and leads to subsidies from taxpayers. Appelbaum and Batt show that private equity firms’ financial strategies are designed to extract maximum value from the companies they buy and sell, often to the detriment of those companies and their employees and suppliers. Their risky decisions include buying companies and extracting dividends by loading them with high levels of debt and selling assets. These actions often lead to financial distress and a disproportionate focus on cost-cutting, outsourcing, and wage and benefit losses for workers, especially if they are unionized. Because the law views private equity firms as investors rather than employers, private equity owners are not held accountable for their actions in ways that public corporations are. And their actions are not transparent because private equity owned companies are not regulated by the Securities and Exchange Commission. Thus, any debts or costs of bankruptcy incurred fall on businesses owned by private equity and their workers, not the private equity firms that govern them. For employees this often means loss of jobs, health and pension benefits, and retirement income. Appelbaum and Batt conclude with a set of policy recommendations intended to curb the negative effects of private equity while preserving its constructive role in the economy. These include policies to improve transparency and accountability, as well as changes that would reduce the excessive use of financial engineering strategies by firms. A groundbreaking analysis of a hotly contested business model, Private Equity at Work provides an unprecedented analysis of the little-understood inner workings of private equity and of the effects of leveraged buyouts on American companies and workers. This important new work will be a valuable resource for scholars, policymakers, and the informed public alike. |
| ares management private equity: These Are the Plunderers Gretchen Morgenson, Joshua Rosner, 2023-04-25 A Wall Street Journal Bestseller Pulitzer Prize–winning and New York Times bestselling financial journalist Gretchen Morgenson and financial policy analyst Joshua Rosner investigate the insidious world of private equity in this “masterpiece of investigative journalism” (Christopher Leonard, bestselling author of Kochland)—revealing how it puts our entire economy and us at risk. Much has been written about the widening gulf between rich and poor and how our style of capitalism has failed to provide a living wage for so many Americans. But nothing has fully detailed the outsized role a small cohort of elite financiers has played in this inequality. Pulitzer Prize–winning journalist and bestselling author Gretchen Morgenson, with coauthor Joshua Rosner, unmask the small group of celebrated Wall Street financiers, and their government enablers, who use excessive debt and dubious practices to undermine our nation’s economy for their own enrichment: private equity. These Are the Plunderers traces the thirty-year history of corporate takeovers in America and private equity’s increasing dominance. Morgenson and Rosner investigate some of the biggest names in private equity, exposing how they buy companies, load them with debt, and then bleed them of assets and profits. All while prosecutors and regulators stand idly by. The authors show how companies absorbed by private equity have worse outcomes for everyone but the financiers: employees are more likely to lose their jobs or their benefits; companies are more likely to go bankrupt; patients are more likely to have higher healthcare costs; residents of nursing homes are more likely to die faster; towns struggle when private equity buys their main businesses, crippling the local economy; and school teachers, firefighters, medical technicians, and other public workers are more likely to have lower returns on their pensions because of the fees private equity extracts from their investments. In other words: we are all worse off because of private equity. These Are the Plunderers is a “meticulous and devastating takedown of a powerful force in Western capitalism” (Brad Stone, bestselling author of Amazon Unbound) that exposes the greed and pillaging in private equity, revealing the many ways these billionaires have bled the economy, and, in turn, us. |
| ares management private equity: The 12 Magic Slides Paul M. Getty, 2014-02-28 Author Paul Getty has seen thousands of brilliant founding CEOs present to angel investors, venture capitalists, and institutional investors. And he has seen thousands of them fail in their quest for the money they sincerely believed would lead to entrepreneurial success and riches for all. Again and again, he watched would-be tech titans fail to create a good first impression, deliver poor presentations, tell lengthy stories that put investors to sleep, and fail to address the critical issues sophisticated investors are most eager to hear about. If only they'd read The Twelve Magic Slides: Insider Secrets for Raising Growth Capital. Getty's slide topics—developed while coaching hundreds of company founders to fundraising success—cover each of the twelve key themes investors want to know about in depth before they part with their hard-earned money: the problem you see, your solution to it, the resulting business opportunity, the amount of money you need to grow the firm, and the potential returns for investors, among others. Getty, managing director of Satwik Capital Advisors in San Jose, California, shows that properly developing each slide—and the thinking behind it—can get you the investment capital required to vault your company to the next level. But The Twelve Magic Slides is more than a book about how raise money from professional investors. It presents a whole new way of how to think about and develop a successful startup. Regardless, it will show you better ways to accomplish your goals and increase the chances you’ll get the green light from investors. Whether you are seeking startup funding from the angel down the street, or trying to convince investment bankers to help take you public, The Twelve Magic Slides provides a clear step-by-step process that will enable you to: Identify the key elements of the business that must be developed to attract external capital Understand the critical dos and don’ts CEOs must know to sell their story to investors in a quick and efficient manner Create twelve perfect slides and a presentation that secures investor interest from the start and gives them plenty of reasons to write you a check You need to find money to fund your company’s growth. Investors need to find entrepreneurs and ideas they can believe in. The Twelve Magic Slides presents a proven method for attracting funds from angel investors, venture capital firms, private equity firms, and institutional investors. It will give you the knowledge and confidence you need to ask for—and receive—the capital you need to launch or grow a business. |
| ares management private equity: Private Capital Stefan Hepp, 2024-02-27 In A History of Private Markets, renowned private markets investor and expert Dr. Stefan W. Hepp delivers an insightful and comprehensive exploration of the history, nature, and influence of private market investing. The author offers a robust examination of the key practical and conceptual issues faced by investors as they move forward into the future. In the book, you'll find fulsome discussions of the rise of private market investment following the conclusion of World War II, as well as why the limited partnership became the dominant investment vehicle for private equity. You'll also discover the importance of the convergence of technology, government, academia, and venture capital that came to define what we now know as Silicon Valley. The book includes: Explanations of the emergence of buyout firms, as well as why and how buyouts differ from other forms of mergers and acquisitions Examinations of the explosive growth of private equity and other private asset classes since the turn of the millennium Discussions of the issues set to dominate the future of private markets, including ESG investing, value creation, unicorns, special purpose acquisition companies (SPACs), and more A must-read book for regulators, investors, asset managers, entrepreneurs, founders, and other businesspeople, A History of Private Markets will earn a place on the bookshelves of anyone with a stake or interest in private equity and other private asset classes. |
| ares management private equity: Venture Capital, Private Equity, and the Financing of Entrepreneurship Josh Lerner, Ann Leamon, 2023-05-02 In the newly revised second edition of Venture Capital, Private Equity, and the Financing of Entrepreneurship, a dedicated team of researchers and professionals delivers an authoritative and comprehensive account of the world of active investing. This important work demonstrates how venture capitalists and private equity investors do business and create value for entrepreneurs, shareholders, and other stakeholders. The authors, drawing on decades of combined experience studying and participating in the private equity markets, discuss the players, dynamics, and the incentives that drive the industry. They also describe various possibilities for the future development of private equity. This latest edition is perfect for advanced undergraduate students of finance and business, as well as MBA students seeking an insightful and accessible textbook describing the private equity markets. |
| ares management private equity: The purchase. The trustee Frederick Liardet, 1847 |
| ares management private equity: Underwater Ryan Dezember, 2020-07-14 Winner of the Bruss Real Estate Book Award His assignment was to write about a real-estate frenzy lighting up the Redneck Riviera. So Ryan Dezember settled in and bought a home nearby himself. Then the market crashed, and he became one of the millions of Americans who suddenly owed more on their homes than they were worth. A flood of foreclosures made it impossible to sell. It didn't help that his quaint neighborhood fell into disrepair and drug-induced despair. He had no choice but to become a reluctant and wildly unprofitable landlord to move on. Meanwhile, his reporting showed how the speculative mania that caused the crash opened the U.S. housing market to a much larger breed of investors. In this deeply personal story, Dezember shows how decisions on Wall Street and in Washington played out on his street in a corner of the Sunbelt that was convulsed by the foreclosure crisis. Readers will witness the housing market collapse from Dezember’s perch as a newspaper reporter. First he’s in the boom-to-bust South where a hot-air balloonist named Bob Shallow becomes one of the world’s top selling real-estate agents arranging condo flips, developers flop in spectacular fashion and the law catches up with a beach-town mayor on the take. Later he’s in New York, among financiers like Blackstone’s Stephen Schwarzman who are building rental empires out of foreclosures, staking claim to the bastion of middle-class wealth: the single-family home. Through it all, Dezember is an underwater homeowner caught up in the mess. A cautionary tale of Wall Street's push to turn homes into assets, Underwater is a powerful, incisive story that chronicles the crash and its aftermath from a fresh perspective—the forgotten, middle-class homeowner. |
| ares management private equity: The Myth of Private Equity Jeffrey C. Hooke, 2021-10-05 Once an obscure niche of the investment world, private equity has grown into a juggernaut, with consequences for a wide range of industries as well as the financial markets. Private equity funds control companies that represent trillions of dollars in assets, millions of employees, and the well-being of thousands of institutional investors and their beneficiaries. Even as the ruthlessness of some funds has made private equity a poster child for the harms of unfettered capitalism, many aspects of the industry remain opaque, hidden from the normal bounds of accountability. The Myth of Private Equity is a hard-hitting and meticulous exposé from an insider’s viewpoint. Jeffrey C. Hooke—a former private equity executive and investment banker with deep knowledge of the industry—examines the negative effects of private equity and the ways in which it has avoided scrutiny. He unravels the exaggerations that the industry has spun to its customers and the business media, scrutinizing its claims of lucrative investment returns and financial wizardry and showing the stark realities that are concealed by the funds’ self-mythologizing and penchant for secrecy. Hooke details the flaws in private equity’s investment strategies, critically examines its day-to-day operations, and reveals the broad spectrum of its enablers. A bracing and essential read for both the financial profession and the broader public, this book pulls back the curtain on one of the most controversial areas of finance. |
| ares management private equity: Factor Investing and Asset Allocation: A Business Cycle Perspective Vasant Naik, Mukundan Devarajan, Andrew Nowobilski , Sébastien Page, CFA, Niels Pedersen, 2016-12-30 |
| ares management private equity: Private Equity and Its Impact Spencer J. Fritz, 2009 This book looks at the increase in leveraged buyouts (LBO) of U.S. companies by private equity funds prior to the slowdown in mid-2007 which has raised questions about the potential impact of these deals. Some praise LBOs for creating new governance structures for companies and providing longer term investment opportunities for investors. Others criticise LBOs for causing job losses and burdening companies with too much debt. This book addresses the effect of recent private equity LBOs on acquired companies and employment, the impact of LBOs jointly undertaken by two or more private equity funds on competition, the Securities and Exchange Commission's (SEC) oversight of private equity funds and their advisers, and regulatory oversight of commercial and investment banks that have financed recent LBOs. The U.S. Government Accountability Office (GAO) reviewed academic research, analysed recent LBO data, conducted case studies, reviewed regulators' policy documents and examinations, and interviewed regulatory and industry officials, and academics. The GAO recommends that the federal financial regulators give increased attention to ensuring that their oversight of leveraged lending at their regulated institutions takes into consideration systemic risk implications raised by changes in the broader financial markets. |
| ares management private equity: King of Capital David Carey, John E. Morris, 2012-02-07 The story of Steve Schwarzman, Blackstone, and a financial revolution, King of Capital is the greatest untold success story on Wall Street. In King of Capital, David Carey and John Morris show how Blackstone (and other private equity firms) transformed themselves from gamblers, hostile-takeover artists, and ‘barbarians at the gate’ into disciplined, risk-conscious investors while the financial establishment—banks and investment bankers such as Citigroup, Bear Stearns, Lehman, UBS, Goldman Sachs, Merrill Lynch, Morgan Stanley—were recklessly assuming risks, leveraging up to astronomical levels and driving the economy to the brink of disaster. Now, not only have Blackstone and a small coterie of competitors wrested control of corporations around the globe, but they have emerged as a major force on Wall Street, challenging the likes of Goldman Sachs and Morgan Stanley for dominance. Insightful and hard-hitting, filled with never-before-revealed details about the workings of a heretofore secretive company that was the personal fiefdom of Schwarzman and Peter Peterson, King of Capital shows how Blackstone and private equity will drive the economy and provide a model for how financing will work in the years to come. |
| ares management private equity: From Willard Straight to Wall Street Thomas W. Jones, 2019-04-15 In stark and compelling prose, Thomas W. Jones tells his story as a campus revolutionary who led an armed revolt at Cornell University in 1969 and then altered his course over the next fifty years to become a powerful leader in the financial industry including high-level positions at John Hancock, TIAA-CREF and Citigroup as Wall Street plunged into its darkest hour. From Willard Straight to Wall Street provides a front row seat to the author's triumphs and struggles as he was twice investigated by the SEC—and emerged unscathed. His searing perspective as an African American navigating a world dominated by whites reveals a father, a husband, a trusted colleague, a Cornellian, and a business leader who confronts life with an unwavering resolve that defies cliché and offers a unique perspective on the issues of race in America today. The book begins on the steps of Willard Straight Hall where Jones and his classmates staged an occupation for two days that demanded a black studies curriculum at Cornell. The Straight Takeover resulted in the resignation of Cornell President James Perkins with whom Jones reconciled years later. Jones witnessed the destruction of the World Trade Center on 9/11 from his office at ground zero and then observed first-hand the wave of scandals that swept the banking industry over the next decade. From Willard Straight to Wall Street reveals one of the most interesting American stories of the last fifty years. |
| ares management private equity: Plunder Brendan Ballou, 2023-05-02 The authoritative exposé of private equity: what it is, how it kills businesses and jobs, how the government helps, and how we stop it Private equity surrounds us. Firms like Blackstone, Carlyle, and KKR are among the largest employers in America and hold assets that rival those of small countries. Yet few understand what these firms are or how they work. In Plunder, Brendan Ballou explains how private equity has reshaped American business by raising prices, reducing quality, cutting jobs, and shifting resources from productive to unproductive parts of the economy. Ballou vividly illustrates how many private equity firms buy up retailers, medical practices, prison services, nursing-home chains, and mobile-home parks, among other businesses, using little of their own money to do it and avoiding debt and liability for their actions. Forced to take on huge debts and pay extractive fees, companies purchased by private equity firms are often left bankrupt, or shells of their former selves, with consequences to communities that long depended on them. Perhaps most startling is Ballou’s insight into how this is happening with the active support of various arms of the government. But, as Ballou reveals in an agenda for reining in the industry, private equity can be stopped from wreaking further havoc. |
| ares management private equity: Elevated Harvey Araton, Jeff Van Gundy, 2019-04-16 Howard Beck. Marc Stein. Jonathan Abrams. Chris Broussard. Ira Berkow. George Vecsey. Mike Wise. Selena Roberts. Lee Jenkins. All have graced the pages of The New York Times, entertaining readers with their probing coverage of the N.B.A.: a stage on which spectacular athletes perform against a backdrop of continuous social change. Now, their work and more is collected in a new volume, edited and annotated by Hall of Fame honoree Harvey Araton, tracing basketball's sustained boom from Magic and Bird to the present. Elevated provides a courtside seat to four decades of professional basketball. Both the iconic moments and those quieter, but no less meaningful times in between are here, from Wise riding around Los Angeles with a young Kobe Bryant on the eve of his first All-Star Game, to Stein declaring Giannis Antetokounmpo's unspeakable greatness to the world in a riveting profile. Rather than simply preserving the past, Elevated reexamines and further illuminates hoops history. This expertly curated collection features exclusive new writing by Araton and postscripts from the original journalists, revealing candid exchanges with NBA greats that didn't make the original newspaper edit and tracing the rise of a worldwide phenomenon from a contemporary vantage point. |
| ares management private equity: No Longer Newsworthy Christopher R. Martin, 2019-05-15 Until the recent political shift pushed workers back into the media spotlight, the mainstream media had largely ignored this significant part of American society in favor of the moneyed upscale consumer for more than four decades. Christopher R. Martin now reveals why and how the media lost sight of the American working class and the effects of it doing so. The damning indictment of the mainstream media that flows through No Longer Newsworthy is a wakeup call about the critical role of the media in telling news stories about labor unions, workers, and working-class readers. As Martin charts the decline of labor reporting from the late 1960s onwards, he reveals the shift in news coverage as the mainstream media abandoned labor in favor of consumer and business interests. When newspapers, especially, wrote off working-class readers as useless for their business model, the American worker became invisible. In No Longer Newsworthy, Martin covers this shift in focus, the loss of political voice for the working class, and the emergence of a more conservative media in the form of Christian television, talk radio, Fox News, and conservative websites. Now, with our fractured society and news media, Martin offers the mainstream media recommendations for how to push back against right-wing media and once again embrace the working class as critical to its audience and its democratic function. |
| ares management private equity: Derivative Media Andrew deWaard, 2024-09-03 A free ebook version of this title is available through Luminos, University of California Press's Open Access publishing program. Visit www.luminosoa.org to learn more. Sequels, reboots, franchises, and songs that remake old songs—does it feel like everything new in popular culture is just derivative of something old? Contrary to popular belief, the reason is not audiences or marketing, but Wall Street. In this book, Andrew deWaard shows how the financial sector is dismantling the creative capacity of cultural industries by upwardly redistributing wealth, consolidating corporate media, harming creative labor, and restricting our collective media culture. Moreover, financialization is transforming the very character of our mediascapes for branded transactions. Our media are increasingly shaped by the profit-extraction techniques of hedge funds, asset managers, venture capitalists, private equity firms, and derivatives traders. Illustrated with examples drawn from popular culture, Derivative Media offers readers the critical financial literacy necessary to understand the destructive financialization of film, television, and popular music—and provides a plan to reverse this dire threat to culture. |
| ares management private equity: Game Grant Hill, 2022-06-07 The full, frank story of a remarkable life’s journey—to the pinnacle of success as a basketball player, icon, and entrepreneur, to the depths of personal trauma and back, to a place of flourishing and peace—made possible above all by a family’s love Grant Hill always had game. His choice of college was a subject of national interest, and his arrival at Duke University cemented the program’s arrival at the top. In his freshman year, he led the team to its first NCAA championship, and three championship appearances in four years. His Duke career produced some of the most iconic moments in college basketball history, and Coach K proved to be a lifelong mentor. Later, as one of the NBA’s best players and a new face of the Detroit Pistons franchise, Hill was the first person with the potential to give Michael Jordan a run for his money, not just as a player but as a brand. His $45 million rookie contract was almost the least of it. He turned down Nike for Fila, and soon Method Man and Tupac Shakur were wearing his shoes. Hill writes candidly about all of it, including the transactional impermanence of life in the league and the isolation caused by his growing fame. His parents and friends helped ground him, and eventually he met a gifted musician named Tamia. The love he found with her and the arrival of their two beautiful daughters would be his rock as a brutal and mysterious injury sidelined him, coinciding with his wife’s own serious health struggles. With openness and insight, Hill relates his entire path, including post-career highlights like his Hall of Fame induction, co-ownership of the Atlanta Hawks, the directorship of the USA Basketball Men’s National Team, and even a yearly gig calling the Final Four. Hill’s father, Calvin, used to tell him that there were always a lot of reasons but never any excuses, and Game is a distillation of a lifetime’s effort to understand the reasons—the good and the bad. At his hardest moments, Hill sought out wisdom from others, stories of inspiration and overcoming obstacles. Now, with Game, he has returned the favor. |
| ares management private equity: The Contributions of Health Care Management to Grand Health Care Challenges Jennifer L. Hefner, Ingrid M. Nembhard, 2021-12-06 The 20th volume of Advances in Health Care Management showcases how health care management research helps to further understand grand challenges in health care: what they are, why they exist, the consequences that they have, and what can be done to address them. |
| ares management private equity: Dow Jones Private Equity Analyst , 2008 |
| ares management private equity: The New Tycoons Jason Kelly, 2012-09-11 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. With numerous private equity firms going public for the first time, learn how these firms operate, where their money comes from and where it goes, and how every day millions of customers, employees, and retirees play a role in that complex tangle of money Author Jason Kelly tells the story of how thirty some years ago a group of colleagues with $120,000 of their own savings founded what would become one of the largest private equity shops in the world, completing the biggest buyout the world has ever seen, and making them all billionaires in the process Presents a never-before-seen look inside a secretive and powerful world on the verge of complete transformation as the industry and its leaders gain public profiles, scrutiny, and political positions 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. |
| ares management private equity: Seeking Virtue in Finance J. C. de Swaan, JC de Swaan, 2020-09-17 By learning from inspiring individuals in the industry, finance professionals can pursue viable careers while benefiting society and upholding humanistic values. |
| ares management private equity: The Money Trap R. Pringle, 2012-06-07 The world economy is caught in a money trap. Existing monetary arrangements meet the needs neither of the ageing societies of the West nor of younger emerging economies. This in-depth analysis explains how the world got into the grip of global finance - and how it can escape, with a growing demand for reform. |
| ares management private equity: The Book of Alternative Data Alexander Denev, Saeed Amen, 2020-06-29 The first and only book to systematically address methodologies and processes of leveraging non-traditional information sources in the context of investing and risk management Harnessing non-traditional data sources to generate alpha, analyze markets, and forecast risk is a subject of intense interest for financial professionals. A growing number of regularly-held conferences on alternative data are being established, complemented by an upsurge in new papers on the subject. Alternative data is starting to be steadily incorporated by conventional institutional investors and risk managers throughout the financial world. Methodologies to analyze and extract value from alternative data, guidance on how to source data and integrate data flows within existing systems is currently not treated in literature. Filling this significant gap in knowledge, The Book of Alternative Data is the first and only book to offer a coherent, systematic treatment of the subject. This groundbreaking volume provides readers with a roadmap for navigating the complexities of an array of alternative data sources, and delivers the appropriate techniques to analyze them. The authors—leading experts in financial modeling, machine learning, and quantitative research and analytics—employ a step-by-step approach to guide readers through the dense jungle of generated data. A first-of-its kind treatment of alternative data types, sources, and methodologies, this innovative book: Provides an integrated modeling approach to extract value from multiple types of datasets Treats the processes needed to make alternative data signals operational Helps investors and risk managers rethink how they engage with alternative datasets Features practical use case studies in many different financial markets and real-world techniques Describes how to avoid potential pitfalls and missteps in starting the alternative data journey Explains how to integrate information from different datasets to maximize informational value The Book of Alternative Data is an indispensable resource for anyone wishing to analyze or monetize different non-traditional datasets, including Chief Investment Officers, Chief Risk Officers, risk professionals, investment professionals, traders, economists, and machine learning developers and users. |
| ares management private equity: Summary of These Are the Plunderers by Gretchen Morgenson GP SUMMARY, 2023-05-10 DISCLAIMER This book does not in any capacity mean to replace the original book but to serve as a vast summary of the original book. Summary of These Are the Plunderers by Gretchen Morgenson : How Private Equity Runs—and Wrecks—America IN THIS SUMMARIZED BOOK, YOU WILL GET: Chapter astute outline of the main contents. Fast & simple understanding of the content analysis. Exceptionally summarized content that you may skip in the original book Gretchen Morgenson and Joshua Rosner investigate the insidious world of private equity, revealing how it leeches profits from everyday Americans, tanks companies it acquires, and puts our entire economic system at risk. They show how companies absorbed by private equity have worse outcomes for everyone but the financiers, such as employees losing their jobs, companies going bankrupt, patients having higher healthcare costs, residents of nursing homes dying, towns struggling, and public workers having lower returns on their pensions. These are the Plunderers exposes the greed and pillaging in private equity, revealing the many ways these billionaires have bled our economy and us. |
| ares management private equity: The Private Equity Analyst , 2004 |
| ares management private equity: National Basketball Association Franchises Frank P. Jozsa, 2017-02-09 This book examines the development and organization of the NBA and its clubs, how each club has performed in seasons and postseasons, and to what extent each has prospered and succeeded as a business enterprise despite competition for market share from other types of entertainment. Each chapter contains two core themes—Team Performance and Franchise Business. The former highlights how teams won division and conference titles and NBA championships while the latter analyzes and compares financial data including revenue, gate receipts, and operating income. The book also explores such things as when each franchise organized and why it joined the NBA, a brief profile of its current majority owner or ownership group, records of teams’ special coaches and players, attendances at home games, and how their arenas rank as venues for fans. This book explains why particular teams located in very large, large, midsized, or small markets win more games and titles than others and when and how frequently this occurs. In addition, it provides ways to individually—and by division or conference—compare basketball franchises from a financial perspective. |
| ares management private equity: The Future of Motorsports Hans Erik Næss, Simon Chadwick, 2023-06-12 This book takes stock of the position of motorsport in the 21st century and considers how it will continue to influence sport business, politics, and society in the future. Presenting a set of thematic essays and multi-disciplinary case studies, the book demonstrates that motorsport continues to play a significant role in relationships between the automotive industry, nationalism, industrialisation, and capitalism as well as motorsports’ position as a feature of contemporary popular culture. Examining issues such as event management and legacy, environmental sustainability and ‘greenwashing’, diversity and inclusion, the rise of gaming and esports, and the use of sport as political soft power around the world across multiple motorsport disciplines, the book shines fascinating new light on this innovative but sometimes problematic industry. This is essential reading for all advanced students, researchers, managers, strategists, sponsors, and other stakeholders working at the nexus of motorsport, business, politics, and culture. |
| ares management private equity: Understanding the Music Business Dick Weissman, 2017-05-12 In today’s fast-moving music industry, what does it take to build a life-long career? Now more than ever, all those working in music need to be aware of many aspects of the business, and take control of their own careers. Understanding the Music Business offers students a concise yet comprehensive overview of the rapidly evolving music industry, rooted in real-world experiences. Anchored by a wealth of career profiles and case studies, this second edition has been updated throughout to include the most important contemporary developments, including the advent of streaming and the shift to a DIY paradigm. A new Both Sides Now feature helps readers understand differing opinions on key issues. Highly readable, Understanding the Music Business is the perfect introduction for anyone seeking to understand how musical talents connect to making a living. |
| ares management private equity: Mergers, Acquisitions, and Corporate Restructurings Patrick A. Gaughan, 2015-04-27 The comprehensive guide to mergers, acquisitions, and corporate restructurings Mergers, Acquisitions, and Corporate Restructurings is an all-inclusive guide to M&As that illustrates how restructuring can be used successfully, how each form works, and the laws that govern them. This updated edition includes the latest statistics, research, graphs, and case studies on the private equity market, ethics, legal frameworks, and corporate governance, presented in a more approachable, manageable way. Written from a practical and historical perspective, this book carefully analyzes the strategies and motives that inspire M&As, the legalities involved each step of the way, and the offensive and defensive techniques used during hostile acquisitions. Corporate restructurings are indispensable in building a new generation of re-engineered companies with the power and resources to compete on the global playing field. This book covers the full spectrum of transactions, from megadeals to downsizing, and takes a fresh look at restructuring and how it is being used to revitalize and supercharge companies. Learn how corporate restructuring helps companies compete Discover the common impetus behind M&As Understand the laws and rules that govern the field Examine more effective strategies for hostile acquisitions The slowdown in the world's economy means that mergers and corporate restructuring will likely increase. It is essential for students and professionals to fully understand the concepts and mechanics behind these transactions, and Mergers, Acquisitions, and Corporate Restructurings is the comprehensive guide to the field. |
| ares management private equity: The Unaccountable & Ungovernable Corporation Frank Clarke, Graeme Dean, Matthew Egan, 2014-03-21 The Corporation is a major vehicle of business activity worldwide. It incurs social costs and generates benefits that continually change - hence, whether it still provides a net benefit to society is contestable. Evidence-based observations of the last decade of corporate sagas and the role of accounting and auditing, suggests a serious rethink is needed about how commerce is pursued and, in particular, whether the current corporate form has passed its use-by-date. The authors of this new book - including internationally renowned accounting scholars - argue that the two major governance tools of accounting and auditing require major makeovers. Beginning by analyzing the global sweep of deregulation that corporations experienced since 2000, the authors go on to discuss the various scandals and crises that characterized the subsequent period, culminating in yet more calls for further deregulation. Having thoroughly assessed the status quo, they provide a series of urgent recommendations for reforms designed to bring the corporation back to the real world and restore its purpose. This book will be of great interest to students and academics across accounting, business, law and finance, especially more advanced students at undergraduate and postgraduate level. |
| ares management private equity: Private Debt Stephen L. Nesbitt, 2023-01-26 An essential resource for creating outsized returns in the private debt markets In Private Debt II: Finding Yield in a Zero Interest World, renowned investment advisor and industry leader Stephen Nesbitt delivers yet another essential resource for investors seeking to acquire private debt options in the investment market, including corporate direct lending, asset-backed lending, mezzanine lending, royalties, venture debt, structured credit (CLOs), specialty finance, and structured equity. Building on the success and popularity of Private Debt: Opportunities in Corporate Direct Lending, this latest edition of the author’s flagship text helps readers understand this complex and rapidly growing asset class. The book also offers: Explorations of the opportunities, relevant risks, and historical yield provided by private debt Discussions of a variety of loan investment vehicles, including the Business Development Company structure Strategies for structuring a direct loan portfolio and how to fit it into your overall investment strategy A can’t-miss resource for serious investors looking for opportunities to earn higher yields than those offered by traditional index funds while still retaining reasonable safety of principle and liquidity, Private Debt II will undoubtedly become the go-to guide for anyone looking for tried and tested debt investment strategies. |
| ares management private equity: Converted Neil Hoyne, 2022-02-22 When the world’s biggest brands want to sharpen their digital marketing strategy, they call Neil Hoyne – Google’s Chief Measurement Strategist and Senior Fellow at the Wharton School. In his first book, he offers a simple, research-backed playbook that anyone can use to find their best customers and develop relationships that last. Under pressure for quick results and facing fierce marketplace competition, too many marketers are boxed into spaghetti-to-the-wall forms of digital marketing that limit the potential of their long hours, countless experiments, and warehouses of data. And in the end, they watch their competition sprint ahead. But what if you built a business around long-term relationships with customers, using data to understand who they are, what they need, and where to find more customers just like them? You can. And you’ll leave your competitors, with all of their data and their short-term thinking, to poke around in the scraps. In Converted, you will learn how to: • Understand the full value of each relationship • Engage in an ongoing conversation with your best customers • Ask the right questions so you can anticipate your customers’ needs • Find more great customers A real person is always on the other end of the transaction. Converted shows you how to win their hearts. |
| ares management private equity: Mergers, Acquisitions, and Other Restructuring Activities Donald DePamphilis, 2019-08-13 Mergers, Acquisitions, and Other Restructuring Activities: An Integrated Approach to Process, Tools, Cases, and Solutions, Tenth Edition, is the most comprehensive and cutting-edge text available on the subject. Supported by recent peer-reviewed academic research, this book provides many recent, notable deals, precedent-setting judicial decisions, government policies and regulations, and trends affecting M&As, as well as takeover strategies and tactics. Today's policies, politics and economics are reflected in the book's 40 case studies, 90% of which involve deals either announced or completed during the last several years. These cases represent friendly, hostile, highly leveraged, and cross-border transactions in ten different industries, involving public and private firms and those experiencing financial distress. Sections discuss an overview of M&As, key regulations, common strategies and tactics, how managers may choose a business strategy from available options, valuation methods and basic financial modeling techniques, the negotiating process, how deal structuring and financing are inextricably linked, how consensus is reached during the bargaining process, the role of financial models in closing the deal and strategic growth options as alternatives to domestic M&As. |
| ares management private equity: Distressed Debt Analysis Stephen G. Moyer, 2004-11-15 Providing theoretical and practical insight, this book presents a conceptual, but not overly technical, outline of the financial and bankruptcy law context in which restructurings take place. The author uses numerous real- world examples to demonstrate concepts and critical issues. Readers will understand the chess-like, multi- move strategies necessary to achieve financially advantageous results. |
Ares Management Corporation - AnnualReports.com
Despite the difficult year in the markets, Ares Management Corporation demonstrated resilience and differentiated execution by generating another year of strong fund performance and …
Ares U.S. Real Estate Opportunity Fund IV, L.P. (“AREOF IV”)
Dec 12, 2023 · Before making a decision to invest in any Ares Fund, a prospective investor should carefully review information respecting Ares and such Ares Fund and consult with its …
Ares Management Corporation Corporate Fact Sheet - CION …
Ares Management Corporation (Ares) is a publicly traded, leading global alternative investment manager with approximately $306 billion of assets under management1 and over 2,000+ …
ARCC Q4-20 Equity Investor Presentation vFF - Seeking Alpha
With approximately $197 billion in assets under management, Ares Management Corporation is a global alternative investment manager operating integrated businesses across Credit, Private...
Ares Management Expands Access to Leading Private Equity …
an-domiciled unit trust designed to provide wholesale clients in Australia access to Ares Private Markets Fund (“APMF”). APMF, a U.S.-registered management investment vehicle distributed …
CPP Investments Completes Sale of Portfolio of Private Equity …
Apr 17, 2025 · Private Equity Fund Interests to Ares and CVC . London, U.K. (April 17, 2025) – Canada Pension Plan Investment Board (CPP Investments) today announced it has …
Ares Management, L.P. - Stifel
This is Ares Management, L.P.’s initial public offering. We are selling 11,363,636 common units, representing limited partner interests in Ares Management, L.P.
ARES MANAGEMENT LLC
Mar 31, 2025 · its distinct but complementary investment groups in Credit, Real Assets, Private Equity and Secondaries is a market leader based on assets under management and …
Ares Management - CION Investments
Overall, the Ares credit platform had approximately $70.5 billion in assets under management at the end of September with $40.7 billion of direct lending AUM – $29 billion in the US and $11.7 …
Private Equity Firm Ares Management LLC Charged With …
that Ares Management LLC, a Los Angeles-based private equity firm and registered investment adviser, has agreed to pay one million dollars to settle charges that it failed to implement and …
Board Presentation - Pennsylvania State Employees' …
Dec 7, 2021 · An investment in Ares Corp is discrete from an investment in any fund directly or indirectly managed by Ares Corp. Collectively, Ares Corp, its affiliated entities, and all …
Ares Management Wins Multiple Private Debt Investor, …
NEW YORK – March 1, 2022 – Ares Management Corporation announced today that it has won 10 readership awards from three of PEI Media’s industry publications – Private Debt Investor …
Ares Management, L.P. | Annual Letter 2017
mezzanine debt, private high yield and equity co-investments. Private Equity: Following the successful flagship Ares Corporate Opportunity Fund V (“ACOF V”) fundraise in 2016, we …
Ares Management Corporation Corporate Fact Sheet
attractive performance to our investor base across our investment groups and strategies, including credit, private equity, real estate and strategic initiatives. The firm is headquartered in …
Ares Management 2020 Annual Letter - AnnualReports.com
Within Private Equity, the roup invested $5.4 billion in 2020G . This was roughly equally split between traditional and distressed investments, with most investments in our corporate private …
Ares Management LLC
Ares is a global alternative asset manager whose clients consist of various pooled investment vehicles, including public and private investment funds, as well as separately managed …
Ares, GIP Muscle into Aviation Market with New Deals
Jan 13, 2021 · Ares announced yesterday that it has pumped in $500 million through its flagship private equity strategies to back an experienced team that will seek lease deals for new or …
NEWS RELEASE - 三井住友銀行
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager operating three integrated businesses across Credit, Private Equity and Real Estate. Ares …
PA SERS Private Credit Investment Recommendation Page 1
Dec 7, 2021 · PA SERS and Ares Management approved in April 2019. The $100 million upsize to APAOF will continue the distressed debt strategy through a proportionate commitment of …
Ares Management, L.P. | Annual Letter 2016
Private Equity: We raised $2.3 billion in gross new commitments in private equity, driven primarily by $2.2 billion in equity commitments for our fifth global flexible capital
TPG, Ares Bolster ESG Efforts - dknaajab.aresmgmt.com
TPG, Ares Bolster ESG Efforts By Tom Stabile February 10, 2016 Ares Management and TPG Capital each have built up dedicated internal resources to track environmental, social, and …
Ares MANAGEMENT LIMITED - aresmgmt.com
Ares Management Limited 5 Best Execution Qualitative Information A summary of the analysis and conclusions the firm draws from its detailed monitoring of the quality of execution obtained …
Following Record 2022, Real Estate Secondary Market …
The Ares Secondaries Group has been been tracking market data for nearly two decades in order to better understand past trends and anticipate future ones. Looking at real estate secondary …
Landmark Partners XVII-GP, L.P. 及び Landmark RA Partners II …
Landmark Partners XVII-GP, L.P. 及び Landmark RA Partners II-GP, L.P. は、金融商品取 引法に従い、適格機関投資家等特例業務届出者とし
