| Merchant banking | Private equity | |
| Incorporation | Bank | Private Fund |
| Regulation | Banking regulations | NBFC regulations? |
| Investment | securities trading, derivative market plays, financing arrangements as well as assisting clients with active private equity investments | passive investment in assets where the equity is not freely tradable on a public stock market |
| Capital raised | through IPO | Privately raised |
| Other services | advise on mergers and acquisitions, undertake limited project financing, and investment management, or underwrite short and medium-term corporate debt | leveraged buyouts, venture capital, growth capital, angel investing, mezzanine capital |
| Philosophy | conservative | aggressive |
Wednesday, November 18, 2009
Merchant Banks vs Private Equity
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