Book review: Key reading for business leaders, finance students

Private equity and venture capital have emerged as the leaders in the new financial order, and could well serve as a weathervane for the global economy. The corporate model they espouse may also herald a fundamental change in the way companies are run.

The Future of Finance: How Private Equity and Venture Capital Will Shape the Global Economy, by Dan Schwartz, examines the state of the industry today, the challenges it faces. It offers penetrating insights into what its own future and the financial world may hold. Schwartz has been central to providing thought leadership in the Asian private equity markets and a leading commentator worldwide for more than two decades as the iconic spokesman and entrepreneurial builder of the Asian Venture Capital Journal (AVCJ) from the onset of private equity in Asia.

This book uses an insider's perspective to full effect. Reflecting more than 90 interviews with leading practitioners from around the world, this story is virtually narrated by the industry itself. It throws light on the roots of the 2008 global crisis and private equity's potential role in rebuilding our financial system. The book also includes a primer for those unfamiliar with private equity and venture capital; a discussion of the substantive issues the industry faces; and a list of its many investment opportunities going forward.