Private investment funds are currently investing more capital than ever and the funds themselves are larger than ever. The industry's success comes against a backdrop of the continued fallout from the 2008 financial crisis, from evolving market trends and from increasing regulatory and tax compliance. In relation to structuring, fund-raising, making deals, managing exits fund sponsors, maintaining investor relations and dealing with the press, investors and their advisers are faced with unprecedented challenges and opportunities. This practical guide features contributions by leading industry specialists on a wide range of issues arising at all stages of a private investment fund's life cycle. Topics covered include formation and structuring, regulatory matters, limited partner issues and negotiations, deal-level considerations, environmental concerns and end-of-fund-life procedures, as well as jurisdictional/offshore matters, their jurisdictional differences and choice drivers (eg Luxembourg, the Cayman Islands and the Channel Islands). The guide also sets out and explores the particular issues presented in relation to listed funds, start-up and spin-out funds, real estate funds, infrastructure and energy funds, and secondary transactions. In consequence, this publication provides a wide-ranging and practical guide to the legal, regulatory, tax and commercial elements of establishing and operating private investment funds. Practitioners and other industry participants are likely to gain significant benefit from applying its contents within their own environment.
This volume breaks new ground by approaching Socially Responsible Investment (SRI) as an explicitly ethical practice in financial markets. The work explains the philosophical and practical shortcomings of 'long term shareholder value' and the origins and conceptual structure of SRI, and links its pursuit to both its deeper philosophical foundations and the broader, multi-dimensional global movement towards greater social responsibility in global markets. Interviews with fund managers in the Australian SRI sector generate recommendations for better integrating ethics into SRI practice via ethically informed engagement with invested companies, and an in-depth discussion of the central practical SRI issue of fiduciary responsibility strengthens the case in favour of SRI. The practical and ethical theoretical perspectives are then brought together to sketch out an achievable ideal for SRI worldwide, in which those who are involved in investment and business decisions become part of an 'ethical chain' of decision makers linking the ultimate owners of capital with the business executives who frame, advocate and implement business strategies. In between there are investment advisors, fund managers, business analysts and boards. The problem lies in the fact that the ultimate owners are discouraged from considering their own values, or even their own long term interests, whilst the others often look only to short term interests. The solution lies in the latter recognising themselves as links in the ethical chain.
The purpose of this book is to present the principles of alternative investments in management. The individual chapters provide a detailed analysis of various classes of alternative investments on the financial market. Despite many different definitions of alternative investments, it can be assumed that a classical approach to alternative investments includes hedge funds, fund of funds (FOF), managed accounts, structured products and private equity/venture capital. Alternative investment in keeping with this broad definition is the subject of consideration here. The theoretical part of each chapter is meant to collect, systematize and deepen readers' understanding of a given investment category, while the practical part of each focuses on an analysis of the current state of development of alternative investments on the global market and outlines the prospects of future market development. This book will be a valuable tool for scholars, practitioners and policy-makers alike.
The health of American manufacturing has been a cause of real concern during the 1980s. Foreign competition, hostile takeovers, new technologies and a host of other factors have caused dramatic changes in this key sector of the American economy. Many obÂ servers of this process of change are singing the "rust belt blues," consigning U.S. manufacturing greatness to the history books. In April 1986, the Center for the Study of American Business at Washington University issued a study by its director, Dr. Murray L. Weidenbaum, which challenged this perception of American manuÂ facturing's future. The report, entitled Learning to Compete, pointed to a variety of positive developments resulting from the adÂ versity faced by American firms in the first half of the decade: proÂ ducers had improved quality and productivity, reduced costs, and inÂ creased emphasis on R&D. In November 1988, as a logical extension of this research, the Center held a conference on American Manufacturing in the 1990s. Focusing on American responses to the changing global competitive environment, this conference brought together the practical experiÂ ence of business professionals and the more detached views of acaÂ demic and media experts. In a day and a half of meetings, encompassing six separate sesÂ sions, a luncheon address and an after-dinner debate, conference participants assembled an extensive profile on the state of U.S.
The writing of this book was in part supported by a grant from the National Science Foundation (NSFEHR 0335369). It represents a significant extension and enriched interpretation of earlier work on "motivation as an instructional outcome" (e.g., Maehr, 1976). Such enrichment and enhancement was prompted by the work on the project as it was conceptualized and envisioned by Paul Pintrich---and later, following his untimely death, carried out by a cadre of students and colleagues, including especially his Wife, Life Partner and also oft-time collaborator in multiple research and scholarly endeavors: Dr. Elizabeth DeGroot as well as several colleagues, including, the author of this volume and Dr. Stuart Karabenick. Of course, it is the primary author of this volume who must bear the responsibility for omissions, errors and interpretations that may have slipped into the text. But whatever portions of this volume may be deemed worthy of consideration and possibly of some value for fellow scholars presently or in the future --- and also contribute in at least some small way not only to continuing scholarly study of "The Most important attitude that can be formed: "That of Desire to go on Learning." But therewith here and there also prove useful not only for scholars and the development of an increased understanding of the nature and nurture of motivation and its impact on the pursuit of knowledge but also prove useful to students in preparing to become educators--- and perhaps also of value to experienced educational practitioners ---- and here there maybe also to parents and others with a concern for the nature and nurture of excellence in teaching and learning.
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