Looking for Best Books on PE Secondaries

Based on the most helpful WSO content, here are some recommended books and resources to deepen your understanding of PE secondaries, including LP, GP-led, direct, tail-end, and distressed strategies:

Books on Distressed Management:

1. Corporate Turnaround by Donald Bibeault

   • This book is highly recommended and forms a significant part of the study material for the Certified Turnaround Professional (CTP) certification.

2. Buyout by Allen Michel and Israel Shaked

   • A solid text covering the basics of buyouts.

3. Bankruptcy Investing by Ben Branch and Hugh Ray

   • Provides a good review of the bankruptcy process and how to track companies for investment through the process.

4. Leveraged Buyouts; a Practical Introductory Guide to LBO’s by David Pilger

   • A practical introductory guide to leveraged buyouts.

5. Mergers and Acquisitions from A – Z by Andrew Sherman

   • The best foundational book on the subject of mergers and acquisitions.

6. The Mergers and Acquisitions Handbook by Milton Rock

   • A collection of academic articles and papers on mergers and acquisitions, offering a wealth of knowledge.

7. Distressed Investing by Martin Whitman & Fernando Diz

   • Follows many Fortune 500 companies through bankruptcy, focusing on public equities, fulcrum securities, bonds, and interesting tranches of debt.

8. Private Equity at Work by Eileen Appelbaum and Rosemary Batt

   • Provides insights into the operations and impacts of private equity firms.

Additional Resources:

1. An Introduction to Private Equity Secondaries - CAIS
2. A Liquidity Cushion in Troubled Times: The PE Secondaries Market - INSEAD Knowledge
3. LP Corner: An Overview of Fund Secondaries - Allen Latta
4. Navigating Secondaries: A Guide to Changing Currents - Landmark Capital / Ares (White Paper in PDF)

These resources should provide a comprehensive understanding of various aspects of PE secondaries, from foundational knowledge to specific strategies and case studies.

Sources: Books on Distressed Management, Q&A: PE Secondaries Principal, Q&A: PE Secondaries Principal, PE, VC, IBD recommended reading list, Learning recs for secondaries