We are deeply indebted to the numerous colleagues and peers who provided invaluable guidance, input, and hard work to help make this book possible.

We would like to highlight the contributions made by Joseph Gasparro toward the successful revision and production of the second edition of this book. His contributions were multi-dimensional and his unwavering enthusiasm, insights, and support were nothing short of exemplary. In general, Joe's work ethic, creativity, “can-do” attitude, and commitment to perfection are a true inspiration. We look forward to great things from him in the future.

Joseph Meisner's technical insights on M&A buy-side and sell-side analysis were invaluable for the book's second edition, as was his unique ability to marry the academic with the practical. His technical knowledge and experience is impressive, and he is able to distill the essence of a situation and express himself in layman's terms. He is the consummate M&A professional as well as a true friend and asset to those around him.

Jeffrey Groves provided us with valuable contributions on updating and expanding the leveraged buyouts content. Jeff is a highly skilled and experienced leveraged finance professional with a soft client touch and his pulse on the market. Daniel Plaxe was also helpful in enriching our LBO content with his technical and precise approach. Vijay Kumra made a valuable contribution to our updated M&A content, providing practical and grounding insights to help preserve the accessibility of a highly complex and technical topic.

We also want to reiterate our thanks to those who were so instrumental in the success of the first edition of Investment Banking. The book could never have come to fruition without the sage advice and enthusiasm of Steve Momper, Director of Darden Business Publishing at the University of Virginia. Steve believed in our book from the beginning and supported us throughout the entire process. Most importantly, he introduced us to our publisher, John Wiley & Sons, Inc. Special thanks to Ryan Drook, Michael Lanzarone, Joseph Bress, and Benjamin Hochberg for their insightful editorial contributions. As top-notch professionals in investment banking and private equity, their expertise and practical guidance proved invaluable. Many thanks to Steven Sherman, Eric Leicht, Greg Pryor, Mark Gordon, Jennifer DiNucci, and Ante Vucic for their exhaustive work in assisting with the legal nuances of our book. As partners at the nation's leading corporate law firms, their oversight helped ensure the accuracy and timeliness of the content.

We'd like to thank the outstanding team at Wiley. Bill Falloon, acquisition editor, was always accessible and the consummate professional. He never wavered in his vision and support, and provided strong leadership throughout the entire process. Our publishers Joan O'Neil and Pamela van Giessen continue to champion our book both internally and externally. Meg Freeborn, development editor, worked alongside Bill on the editorial side. Tiffany Charbonier, editorial assistant, worked diligently to ensure all the administrative details were addressed. Mary Daniello, production manager, facilitated a smooth production process. Sharon Polese, marketing manager, helped us realize our vision through her creativity and foresight.

We also want to express immeasurable gratitude to our families and friends for their encouragement, support, and sacrifice during the weekends and holidays that ordinarily would have been dedicated to them.

This book could not have been completed without the efforts and reviews of the following individuals:

1. Jonathan Ackerman, UBS Investment Bank
2. Mark Adler, Piper Jaffray
3. Kenneth Ahern, University of Southern California, Marshall School of Business
4. Marc Auerbach, Standard & Poor's/Leveraged Commentary & Data
5. Carliss Baldwin, Harvard Business School
6. Kyle Barker, Kodiak Building Partners
7. Ronnie Barnes, Cornerstone Research
8. Joshua Becker, Versa Capital Management
9. Joseph Bress, The Carlyle Group
10. Stephen Catera, Siris Capital Group
11. Thomas Cole, Citigroup
12. Eric Coghlin, UBS Investment Bank
13. Lawrence Cort
14. Aswath Damodaran, New York University, Stern School of Business
15. Thomas Davidoff, University of California Berkeley, Haas School of Business
16. Victor Delaglio, Province Advisors
17. Jennifer Fonner DiNucci, Cooley Godward Kronish LLP
18. Wojciech Domanski, ICENTIS Capital
19. Ryan Drook, Deutsche Bank
20. Chris Falk, Florida State University, College of Business
21. Erza Faham, Baruch College
22. Heiko Freitag, Anschutz Investment Company
23. Mark Funk, EVP & CFO, Mobile Mini, Inc.
24. Joseph Gasparro, Bank of America Merrill Lynch
25. Masha Girshin, Pace University, Lubin School of Business
26. Andrew Gladston, Maquarie Capital
27. Peter D. Goodson, University of California Berkeley, Haas School of Business and Columbia Business School
28. Peter M. Goodson, Eminence Capital
29. Mark Gordon, Wachtell, Lipton, Rosen & Katz
30. Gary Gray, Pennsylvania State University, Smeal School of Business
31. Jeffrey Groves, UBS Investment Bank
32. David Haeberle, Indiana University, Kelley School of Business
33. John Haynor, Jefferies & Company
34. Milwood Hobbs, Natixis Securities
35. Benjamin Hochberg, Lee Equity Partners, LLC
36. Alec Hufnagel, Kelso & Company
37. Jon Hugo, Deutsche Bank
38. Roger Ibbotson, Yale School of Management
39. Cedric Jarrett, Deutsche Bank
40. John Joliet, Moelis & Company
41. Tamir Kaloti, Deutsche Bank
42. Michael Kamras, Credit Suisse
43. Kenneth Kim, State University of New York at Buffalo, School of Management
44. Eric Klar, White & Case LLP
45. Kenneth Kloner, UBS Investment Bank
46. Philip Konnikov, UBS Investment Bank
47. Vijay Kumra, UBS Investment Bank
48. Alex Lajoux, National Association of Corporate Directors, Coauthor of “The Art of M&A” Series
49. Ian Lampl, Department of Treasury, Office of Financial Stability
50. Michael Lanzarone, CFA, Société Générale
51. Eu-Han Lee, Indus Capital Advisors (HK) Ltd.
52. Franky Lee, Providence Equity Partners
53. Eric Leicht, White & Case LLP
54. Jay Lurie, International Finance Corporation (IFC)
55. David Mayhew, Deutsche Bank
56. Coley McMenamin, Bank of America Merrill Lynch
57. Joseph Meisner, RBC Capital Markets
58. Steve Momper, University of Virginia, Darden Business Publishing
59. Kirk Murphy, MKM Partners
60. Joshua Neren, J.P. Morgan
61. Paul Pai, BMO Capital Markets
62. James Paris, BMO Capital Markets
63. Dan Park, Foros Group
64. Daniel Plaxe, Pioneer Funding Group, LLC
65. Gregory Pryor, White & Case LLP
66. David Ross, Bank of America Merrill Lynch
67. Ashish Rughwani, Dominus Capital
68. David Sanford, Scout Capital
69. Arnold Schneider, Georgia Tech College of Management
70. Mustafa Singaporewalla, Bank of America Merrill Lynch
71. Steven Sherman, Shearman & Sterling LLP
72. Andrew Shogan, Deutsche Bank
73. Emma Smith, Deutsche Bank
74. David Spalding, Dartmouth College
75. Andrew Steinerman, JP Morgan
76. Matthew Thomson
77. Robb Tretter, Bracewell & Giuliani LLP
78. John Tripodoro, Cahill Gordon & Reindel LLP
79. Ante Vucic, Wachtell, Lipton, Rosen & Katz
80. Siyu Wang, CFA, TX Investment Consulting (China)
81. Chris Wright, Crescent Capital Group
82. Jack Whalen, Kensico Capital

Additionally, we would like to highlight the efforts of the students from Baruch College's Investment Management Group who were invaluable in the production of our university ancillary materials:

1. Omotola Atolagbe
2. Mohammad Awais
3. Albert Balasiano
4. Ricky Chang
5. Dennis Chin
6. Lailee Chui
7. Shokhrukh Erkinov
8. MinYe Feng
9. Gregory Flores
10. David Hung
11. Olgi Kendro
12. Dimitris Kouvaros
13. Jenny Lee
14. Omair Talib Marghoob
15. Sharmin Pala
16. Vivek Kumar Rohra
17. Aleksey Schukin
18. Maksim Soshkin
19. Isreal Suero
20. Svetlana Vileshina
21. Antonio Viveros
22. Lily Wen
23. Hugh Yoon