Bloomberg Press The New Tycoons: Inside the Trillion Dollar Private Equity Industry That Owns Everything

Very well written.

I first heard about `The New Tycoons' via Bloomberg radio. Having at least a tangential familiarity with the private equity business I was curious about the historical aspects of the business and the sometimes colorful background of the key players, not to mention how those huge sums of money were derived.All of these items are well documented here as is the way PE grew (and continues to grow) in the current market environment - the latter not nearly as robust as its seminal formative years. Not surprisingly, the founders of PE were born largely out of investment banking. Too, the astronomical fortunes that have been made came at a game of high risk / high reward, but also exacting fees both before any profits were distributed to investors and large internal rates-of-return (IRR) payable directly to the PE companies. To some extent this business model has changed as larger pension funds and endowments have moved to take the ROI role internal.Blackstone (Schwarzman), KKR (Kravis), Carlisle (Rubenstein), Bain (Romney), TPG (Bonderman) and a host of others are chronicled in a clear and concise way. Make no mistake. These guys (there are few if any women among the founders of PE) worked hard. Not a lot of heavy lifting, but more sweat equity involving lots of global travel, relationship development and time away from family and friends.There are few areas in our daily lives that remain untouched by PE. Its reach is profound and its business decisions are capable of having a ripple effect across economies, industries, communities and families. In the interest of full disclosure several of the companies in my personal investment portfolio are partially owned by PE. I also worked several years for a company jointly owned by two PE players.Like so many things in life and business including PE timing and opportunity are everything. I highly recommend this book for a reader with an interest in understanding more about the private equity business.

Learning how valuable is the Private Equity Industry in every aspects of daily business life

Not a vastly in-depth analysis of deals done, however, this is a very good overview of the major players in the industry and the mechanics of what makes PE tick. Very easy reading, much like a series of good weekend newspaper articles.

PRETTY GOOD BOOK ON SUBJECT>A BUY IF INTERESTED IN CORRUPTION IN CORPORATE POWER