BLOOMBERG NEWS Reporter Jason Kelly Takes Readers Behind the Curtain of Private Equity
In his New Book
THE NEW TYCOONS
Inside the Trillion Dollar Private Equity Industry That Owns Everything
Private equity is everywhere. Firms like KKR, Blackstone, TPG, and
Carlyle have a hand in what we wear and what we eat, by owning some of
the world's biggest brands—from Hilton to Dunkin' Donuts and Toys"R"Us
to J. Crew. Their influence doesn't stop there. They're investing on
behalf of governments, university endowments, and pensions, giving them
responsibility for billions in retirement savings. The companies they
own employ millions of workers.
In The New Tycoons (Wiley; September 2012; Hardcover and eBook),
Bloomberg News reporter Jason Kelly demystifies the complex world of
private equity by telling the stories of the top firms and their
leaders. The book details how their role as investors, owners, and
employers has put them at the center of our lives.
Through in-depth, exclusive interviews with private equity chieftains
including Stephen Schwarzman, David Rubenstein, David Bonderman, Henry
Kravis, and others, The New Tycoons explores a cottage investing
industry that's blossomed into a global financial force. With
on-the-ground reporting, personal observations and richly drawn
anecdotes, Kelly takes the story far from Wall Street and into companies
controlled by private equity, examining how the business affects us as
workers and taxpayers. With the presidential candidacy of former Bain
Capital CEO Mitt Romney, and the industry's deepening influence on Main
Street, understanding private equity and where it's headed is more
important than ever. The New Tycoons offers a compelling examination of
a massive, often overlooked, economic engine. You'll discover the untold
stories of the most important firms and game-changing individuals that
own everything.
The New Tycoons:
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Explains how two cousins, a restless former Carter administration
policy adviser, a pair of out-of-work investment bankers and a lawyer
fighting a highway extension in Texas all used the same basic idea to
become billionaires.
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Explores how a long-secret industry copes with the scorching spotlight
created by Bain Capital founder Mitt Romney's quest for the White
House. Details the response to political pressure about their tax
rates, accusations of rampant job destruction, and the rigors of
answering to public shareholders.
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Goes inside KKR's $7.3 billion deal for Dollar General, detailing how
a highly sought CEO zeroed in on everything from how the diet soda
tasted to sales of toilet seats to revive the retailer.
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Details private meetings with the world's largest investors, including
some the biggest U.S. pensions, as the private-equity managers woo
them for new commitments, those investors balk at their fees, and the
workers at private-equity controlled companies lobby for a voice.
Jason Kelly is a reporter with Bloomberg News based in New York. He
covers the global private equity industry. During his ten years with
Bloomberg, Kelly has also followed the technology industry and written
about issues ranging from the aftermath of Hurricane Katrina to economic
development during the war in Afghanistan.
The New Tycoons
By Jason Kelly
Wiley; September 2012
ISBN: 9781118205464
Hardcover and eBook available
Media Contact: Jocelyn Córdova, jcordova@wiley.com
Please visit Wiley’s Press
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