Two and Twenty
How the Masters of Private Equity Always Win
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Two and Twenty
Narrated by:
Will Damron
Buy Now for £12.99
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Narrated by:
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Will Damron
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By:
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Sachin Khajuria
About this listen
“Brilliant . . . eloquently takes readers inside the heroic world of private equity . . . [an] essential read.”—Forbes
ONE OF THE BEST BOOKS OF THE YEAR: Next Big Idea Club
Private equity was once an investment niche. Today, the wealth controlled by its leading firms 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.
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Critic reviews
“A true insider’s account of the industry.”—Fortune
“It cannot be stressed enough how much [Two and Twenty] is needed. . . . Private equity investors are not overpaid, nor are they avoiding taxes on our backs. In reality they’re heroes. Read Sachin Khajuria’s excellent and essential book to understand why.”—Forbes
“Khajuria believes private equity deserves to be defended. . . . [Deal] sketches supply helpful information about the structure of private equity funds. . . . The vignettes enable Khajuria to show the wide range of industries and transactions in which private equity now operates. . . . He suggests that private equity is too big and has insinuated itself too deeply into American life to be stopped. That may be the book’s most persuasive point.” —The Wall Street Journal
“[Two and Twenty is] an excellent primer on the industry, from how things work at the very top to the nuts and bolts of its vast influence around the globe.”—Bloomberg Businessweek
“[Sachin Khajuria] demystifies the private equity world.”—Financial Times
“It cannot be stressed enough how much [Two and Twenty] is needed. . . . Private equity investors are not overpaid, nor are they avoiding taxes on our backs. In reality they’re heroes. Read Sachin Khajuria’s excellent and essential book to understand why.”—Forbes
“Khajuria believes private equity deserves to be defended. . . . [Deal] sketches supply helpful information about the structure of private equity funds. . . . The vignettes enable Khajuria to show the wide range of industries and transactions in which private equity now operates. . . . He suggests that private equity is too big and has insinuated itself too deeply into American life to be stopped. That may be the book’s most persuasive point.” —The Wall Street Journal
“[Two and Twenty is] an excellent primer on the industry, from how things work at the very top to the nuts and bolts of its vast influence around the globe.”—Bloomberg Businessweek
“[Sachin Khajuria] demystifies the private equity world.”—Financial Times
Education & Entertaining
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Shill for industry
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highly recommended
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There are lots of sober texts that walk you through the reality of the PE industry, I wrote one that has some success myself, but this page turning attempt doesn't educate well or entertain sufficiently.
The Spinal Tap of PE
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A fascinating financial listening experience . Well worthwhile!
Five Star Review
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