Investment Banks, Hedge Funds, and Private Equity

2nd Edition

Authors: David Stowell
Hardcover ISBN: 9780124158207
eBook ISBN: 9780124046320
Imprint: Academic Press
Published Date: 20th August 2012
Page Count: 672
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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.

Key Features

  • 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.

Table of Contents

Section One: Investment Banking

  1. Chapter 1 – Overview of Investment Banking
    1. Organizational Structure of an Investment Bank
    2. Investment Banking Division
      1. Client Coverage Bankers
      2. Capital Markets Group
        1. Equity Capital Markets
        2. Debt Capital Markets

      3. Mamp;A Product Group

    3. Trading Division
      1. Fixed Income, Currencies and Commodities (FICC)
      2. Equities

    4. Non-Client Related Trading and Investing
      1. Principal Investing
      2. Proprietary Trading

    5. Asset Management Division
      1. Co-Investments in Asset Management Division Funds

    Referenced Case Studies – Investment Banking in 2008 (A): Rise and Fall of the Bear; Investment Banking in 2008 (B): A Brave New World

  2. Chapter 2 – Regulation of the Securities Industry
    1. Introduction
    2. Section One: U.S. Regulations
      1. Early Investment Banking
      2. The Growth of Investment Banking
      3. Limited Regulation
      4. The Securities Act of 1933
        1. The Registration Statement
        2. The Investment Prospectus
        3. New Liabilities
        4. Gun-Jumping Rules

      5. The Glass-Steagall Act (formally, the Banking Act of 1933)
        1. Separation of Private Banks into Deposit and Investment Banks
        2. Separation of Commercial and Investment Banks

      6. Securities Act of 1934
      7. Public Utility Holding Company Act
      8. Chandler Act
      9. Maloney Act
      10. Investme


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© Academic Press 2012
Academic Press
Hardcover ISBN:
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About the Author

David Stowell

David P. Stowell is a professor of finance at Northwestern University’s Kellogg School of Management, where he teaches classes that focus on investment banking, hedge funds and private equity. In addition to his current teaching responsibilities, he manages Paradigm Partners, a boutique investment bank that provides M&A and capital raising services and general advice on investment banking, hedge fund and private equity activities to selected clients.

Affiliations and Expertise

Professor of Finance, Kellogg School of Management, Northwestern University, Evanston, IL, USA. He also manages Paradigm Partners, a boutique investment bank


"A comprehensive introduction to Investment Banking and Private Equity.  Loaded with intricate details, it contains a unique frame of reference on best practices on both subjects.  The book defines diverse concepts in clear and concise terms, and readers will benefit from valuable insights and expertise to vet opportunities that meet risk and reward objectives."  --Viney Sawhney, Boston National Capital Partners and Harvard University

"It is the best on the subject that I have found, and I have been teaching for fifteen years.  As long as Professor Stowell keeps it current it will be a valuable source of information on these three topics."  --Charles Murphy, New York University

"In the first edition David Stowell gave students and accessible way to develop a deep understanding of financial firms.  The new version smoothly and successfully integrates the lessons from the financial crisis and how the industry has evolved." --Jonathan Brogaard, University of Washington

"Books on investment banking are few and far between and mostly out of date. Usually they are very academic or written by lawyers rather than by someone who understands the business. This one, written by a former practitioner, gives students of investment banking just the insights they need into the nexus of investment banking, private equity and hedge funds." --Brian Scott-Quinn, Chair in Investment Banking, ICMA Centre, Henley Business School, University of Reading

"Investment banking is in permanent change. This new book on investment banking describes the most recent trends that have taken place in the industry, in particular the interaction between investment banking and the hedge funds and private equity businesses. This is an exhaustive and up-to-date guide to the major banking activities. The different themes covered in the book are illustrated by fascinating real life cases. The book by David Stowell will become the new refer