Investment Banks, Hedge Funds, and Private Equity

Investment Banks, Hedge Funds, and Private Equity

3rd Edition - July 24, 2017

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  • Author: David Stowell
  • eBook ISBN: 9780128047248
  • Hardcover ISBN: 9780128047231

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As our economy evolves, private equity groups, hedge funds, and investment banks compete and cooperate in different ways.  Their recent innovations are reported and analyzed by the 3rd edition of David Stowell’s landmark book, which adds three new cases, significantly revisions of most chapters, and updated figures, tables, and exhibits. It captures the actual work that associates and vice presidents do, providing readers with templates for real transactions. Finally, it provides significantly more content about the ways liquidity is supplied in secondary markets, including an overview of high frequency trading/electronic market making, quantitative trading strategies, and the evolution of cash equities from open outcry pits to fully electronic central limit order books.

Key Features

  • Includes a new chapter on China to accompany nine heavily updated chapters
  • Integrates three new cases with relevant chapters in the book to create real world applications of chapter teachings
  • Employs spreadsheet models to enable readers to create analytical frameworks for considering choices, opportunities and risks described in the cases


MBA, MSF and Executive MBA students, and upper-level undergraduates who are focused on finance and investments. Investment banking classes can use this book as a primary text, and corporate finance and investments classes can use it either as a secondary text or as a principal text when focused on hedge funds and private equity

Table of Contents

  • Part I
    1. Overview of Investment Banking
    2. Regulation of the Securities Industry
    3. Financings
    4. Mergers and Acquisitions
    5. Trading
    6. Asset Management, Wealth Management and Research
    7. Exchanges, Clearing and Settlement and Credit Rating Agencies
    8. International Banking
    9. Convertible Securities and Innovation
    10. Investment Banking Careers, Opportunities and Issues

    Part II
    11. Overview of Hedge Funds
    12. Hedge Fund Investment Strategies
    13. Shareholder Activism and Impact on Corporations
    14. Risk, Regulation and Organizational Structure
    15. Hedge Fund Performance and Issues
    16. Overview of Private Equity
    17. LBO Financial Model
    18. Private Equity Impact on Corporations
    19. Organization, Compensation, Regulation and Limited Partners
    20. Private Equity Issues and Opportunities
    21. Private Equity in China

    1. Investment Banking in 2008 (A): Rise and Fall of the Bear
    2. Investment Banking in 2008 (B): A Brave New World
    3. Freeport-McMoran: Financing an Acquisition
    4. The Best Deal Gillette Could Get?: Procter & Gamble’s Acquisition of Gillette
    5. A Tale of Two Hedge Funds: Magnetar and Peloton
    6. Kmart, Sears and ESL: How a Hedge Fund Became One of the World’s Largest Retailers
    7. McDonald’s, Wendy’s and Hedge Funds-Hamburger Hedging?: Hedge Fund Activisim
    8. Porsche, Volkswagen and CSX: Cars, Trains and Derivatives
    9. The Toys “R” Us LBO
    10. Cerberus and the U.S. Auto Industry
    11. H.J. Heinz M&A Transaction
    12. Quintilles IPO Transaction
    13. New Case on M&A Transaction Litigation (name to be determined)

Product details

  • No. of pages: 732
  • Language: English
  • Copyright: © Academic Press 2017
  • Published: July 24, 2017
  • Imprint: Academic Press
  • eBook ISBN: 9780128047248
  • Hardcover ISBN: 9780128047231

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, private equity and venture capital. He also teaches undergraduate courses on these topics at Northwestern University. Prior to joining Northwestern in 2005, he was managing director at JP Morgan, working in Chicago with responsibility for part of the firm's mid-west investment banking business. In addition, he worked in investment banking at UBS as managing director and co-head of U.S. equity capital markets, and at Goldman Sachs, where he co-managed an equity derivatives business and worked in corporate finance in New York and Tokyo. He was also a managing director at O'Connor Partners, a hedge fund based in Chicago. He graduated from Utah State University with a BA in Economics and from Columbia University's Graduate School of Business with an MBA in Finance. In addition to his current teaching responsibilities, he manages Paradigm Partners, a boutique firm that provides M&A and capital raising services and general advice regarding 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

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