Biography
Sebastien Canderle is a private equity and venture capital advisor. He has worked as an investment executive for multiple fund managers. He is the author of several books, including The Debt Trap and The Good, the Bad and the Ugly of Private Equity. Canderle also lectures on alternative investments at business schools. He is a fellow of the Institute of Chartered Accountants in England and Wales and holds an MBA from The Wharton School.
In financial capitalism, wealth is transaction-based rather than operational.
Today, capitalism knows four configurations, Sebastien Canderle writes. The two examined here are inherited and adapted from previous eras.
The costs and risks associated with debt have shifted from the borrower to the lender.
The goal of private equity is to be impervious to the vagaries of the economic cycle and to outside interference.
How do special-purpose acquisition companies (SPACs) serve public investors?
Should a loan that one neither intends nor is required to repay be considered debt or equity?
PE results can neither be benchmarked reliably nor delivered consistently.
Private equity is not more resilient than other asset classes. Quite the opposite.
What explains the absence of predictability in private equity performance?
"In private markets, no one can figure out your true performance."