As our economy evolves, private equity firms, hedge funds, and investment banks compete and cooperate in different ways. Investment Banks, Hedge Funds, and Private Equity, now fully updated in its Fourth Edition, provides a real-world view of this fast-evolving field, reviewing and analyzing recent innovations and developments. The text captures the actual work of bankers and professional investors, providing readers with templates for real transactions. It provides insight into how investment banks, hedge funds, and private equity firms provide services to each other while creating opportunities for corporations and investors to raise capital, invest, hedge, finance, acquire, divest, and risk-manage. For each type of institution, the business model, organizational structure, products, challenges, regulatory issues, and profit-making opportunities are explained. In addition, specific transactions are analyzed to make clear how advisory services, financings, investments, and trades produce profits or losses, and which types of risks are most commonly taken by each type of institution. Importantly, the linkage of investment banks, hedge funds, and private equity to corporations, governments, and individuals is described, enabling the reader to more clearly understand how these organizations impact them and how their products and services can be best utilized. Key features: Integrates case studies with relevant chapters in the book to create real-world applications of chapter teachings, Employs spreadsheet models to enable readers to create analytical frameworks for considering choices, opportunities, and risks described in the cases, Features online instructor materials, including updated models, solutions, and case study and lecture slides