A THOROUGH UNDERSTANDING OF PRIVATE EQUITY

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FOREWORD

Despite the recent slowdown experienced by the industry, private equity continues to play a key role in the economy. It notably represents a fundamental source of support to non-listed companies during their whole lifecycle. It also contributes directly towards the creation of companies, the promotion of innovation and new technologies, growth, employment and re- newal of the economic landscape. However, as an asset class, private equity is probably one of the less well understood seg- ments of the current financial markets. It is also certainly one of the most specialised. Com- pared to other investment funds, private equity funds differ in strategy, operating model, structure and objective. As a clear understanding of the mechanisms of private equity is required, we thought it appropriate to develop this comprehensive brochure which covers the different aspects of the industry. This guide will provide the reader with an insight into the main concepts and features of private equity, a market overview and a presentation of the main industry players, legal frameworks and vehicles. It also addresses fiscal aspects and operational issues, as well as the perspectives for the industry. As an experienced player in Europe and in North America, with a full range of services to pri- vate equity firms, CACEIS has a deep understanding of this vast and ever-evolving industry. It is this experience, expertise and know-how, gained through supporting many clients over the years that we share in this brochure.

We trust you will find this publication both relevant and informative.