Wiley, September 2012
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
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.
Hardcover | ISBN: 9781118205464 | Publication Date: September 2012
"Jason Kelly has tenaciously reported on the private equity
industry during its boom and bust. This lively book gives the
reader a highly readable and enjoyable 'bird's-eye view' of some
of the most interesting and traumatic years in the industry's
-- Josh Lerner, Jacob H. Schiff Professor of Investment Banking, Harvard Business School, and Director, Private Capital Research Institute
"Jason Kelly provides a fascinating account of the
transformation of the private equity industry from relative
obscurity a few decades ago to a major player in corporate America
today. His book is a must-read for anybody who wants to know the
individuals and the decisions they made that created this trillion
dollar industry. The New Tycoons is well written as well
as informative from the first to the last page."
-- James R. Barth, Lowder Eminent Scholar in Finance, Auburn University, and Senior Finance Fellow, Milken Institute
"In The New Tycoons, Jason Kelly provides an inside look
at the private equity industry today. He does a terrific job of
describing the fascinating histories and current strategies of
many of the major private equity players."
-- Steven N. Kaplan, Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance, University of Chicago Booth School of Business
"Jason's book delves into what's behind the private equity
curtain, describing both the business and its impact. As he was
granted unparalleled access to the chieftains of private equity,
the book has insights??that both the private equity professional
and casual reader can appreciate. At a time when people are
wondering what this industry is all about, this is an easy read
and a thorough explanation of an important industry and its global
presence in our lives."
-- Paul Schaye, Managing Director, Chestnut Hill Partners, LLC