Two and Twenty

- Blurb -

The first true insider' s account of private equity, revealing what it takes to thrive among the world' s hungriest dealmakersPrivate equity was once an investment niche. Today, the wealth controlled by its leadingfirms surpasses the GDP of some nations. Private equity has overtaken investment banking-and well-known names like Goldman Sachs and Morgan Stanley-as the premier destination for ambitious financial talent, as well as the investment dollars of some of the world' s largest pension funds, sovereign wealth funds, and endowments. At the industry' s pinnacle are the firms' partners, happy to earn "two and twenty"-that is, a flat yearly fee of 2 percent of a fund' s capital, on top of 20 percent of the investment spoils. Private equity has succeeded in near-stealth-until now. In Two and Twenty, Sachin Khajuria, a former partner at Apollo, gives readers an unprecedented view inside this opaque global economic engine, which plays a vital role underpinning our retirement systems. From illuminating the rituals of firms' all-powerful investment committees to exploring key precepts ("think like a principal, not an advisor"), Khajuria brings the traits, culture, and temperament of the industry' s leading practitioners to life through a series of vivid and unvarnished deal sketches. Two and Twenty is an unflinching examination of the mindset that drives the world' s most aggressive financial animals to consistently deliver market-beating returns.