Private Equity: A Transactional Analysis, 5th Edition

This practical fifth edition introduces the world of private equity not just from a UK perspective, but also that of key European jurisdictions and the United States. It explains its rise and recent dynamics, and explores the key ingredients of private equity transactions and the technical issues associated with them. Featuring chapters by leading practitioners, the content includes high-level analysis of private equity fund structures, equity and debt finance, acquisition documentation, due diligence, tax structuring and public-to-privates.

New coverage in this edition includes:

• analysis of the fastest growing part of the private equity market – secondary transactions – examining both those led by the investors in private equity funds and those led by those who manage the funds;
• discussion of NAV facilities, the way they are structured and their uses;
• a chapter on how ESG issues are affecting and being dealt with by private equity fund managers, including an examination of new and prospective regulation in this area;
• insight on latest market trends, an overview of the anatomy of a private equity fund, a description of fund terms and discussion of common themes across major relevant jurisdictions;
• examination of the tax risk environment, and newer tax rules;
• consideration of the regulatory changes required in the governance of large private companies and transparency;
• a review of the evolving leveraged buyout market, including the influx of new finance providers; and
• consideration of the new UK framework on restructurings.

Private Equity is essential reading for legal and other practitioners working or advising in this field, as well as for senior private equity executives, investment houses and investors. Academics in corporate law and business schools, as well as their students, will also find this edition to be of great value.