Skip to Main Content

Reframing Finance: New Models of Long-Term Investment Management

Online ISBN:
9781503602755
Print ISBN:
9781503601789
Publisher:
Stanford University Press
Book

Reframing Finance: New Models of Long-Term Investment Management

Ashby Monk,
Ashby Monk
Stanford University Global Projects Center
Find on
Rajiv Sharma,
Rajiv Sharma
Stanford University Global Projects Center
Find on
Duncan L. Sinclair
Duncan L. Sinclair
Deloitte LLP
Find on
Published:
8 August 2017
Online ISBN:
9781503602755
Print ISBN:
9781503601789
Publisher:
Stanford University Press

Abstract

The role of financial intermediaries has come under close scrutiny in recent times as many of the practices of these service firms have been exposed for their opaque, rent-seeking and dishonest behavior. This book questions the traditional system of Financial Capitalism by examining how beneficiary organizations such as pension funds, sovereign wealth funds, endowments and foundations can reduce the inefficiencies of intermediaries in the savings-investment channel. This book argues that the large pools of long-term capital held in beneficiary organizations has not been mobilized efficiently enough into the capital-intensive long-term projects such as infrastructure, green energy, agriculture, private equity and real estate development. In particular, the book examines a new ‘collaborative’ form of investing that a large number of beneficiary organizations have started to embark on in order to address the problem of mainstream financial intermediation and achieve their long-term investment objectives. The book conceptualizes the ‘collaborative’ model of investment, drawing upon economic sociology, and emphasizes the importance for investors to build their social capital. By providing case study exemplars of collaborative vehicles such as co-investment platforms, joint ventures, and platform companies that invest in infrastructure, agriculture, private equity and real estate, the book provides useful insights for how long-term investment management might be shaped in the future.

Contents
Close
This Feature Is Available To Subscribers Only

Sign In or Create an Account

Close

This PDF is available to Subscribers Only

View Article Abstract & Purchase Options

For full access to this pdf, sign in to an existing account, or purchase an annual subscription.

Close