This book deals with venture capital provided for established unlisted companies, private equity, which has developed rapidly over the last three decades but remains largely misunderstood. Here, John Gilligan and Mike Wright debunk some of the biggest myths and misconceptions about private equity. The book offers a unique and authentic source from a leading professional and academic for practitioners, policymakers, and researchers that explains in detail what private equity involves and systematically assesses its impact. Written in a very accessible style, the book guides the reader through what private equity means, the different participants involved, as well as issues relating to sourcing, evaluating, valuing, and structuring deals. Various themes from systematic academic research are highlighted in numerous concise references placed alongside the text discussing practical aspects. The main part of the work concludes with an up-to-date discussion by the authors, knowledgeable commentators on the main issues in the intense debate surrounding private equity. The book also includes concise tables of the academic research conducted over the last thirty years in the field of private equity, covering: returns to investors, economic performance, the impact on Research and Development and employees, as well as the duration and life cycle of private equity-backed deals.