Money Games
Money Games is a riveting tale of one of the most successful buyout deals ever: the acquisition and turnaround of what used to be Korea's largest bank by the American firm Newbridge Capital. It takes readers inside the battle to win control of the bank—a delicate, often exasperating process that meant balancing the goals of Newbridge with those of the government, bank employees, and Korea's powerful industrial titans. Finally, Money Games describes how Newbridge transformed and rebuilt the struggling bank into a shining example of modern banking.
Praise for Money Games
"Dealmaker Weijian Shan has given us the full story of one of the most profitable acquisitions and successful turnarounds of the Asian Financial Crisis, as well as intimate and valuable personal insights. I recommend it for everyone who has ever wondered how the acquisitions we read about are accomplished."
― Howard Marks, Founder and Co-Chairman, Oaktree Capital Management
"Weijian Shan's story of a banking takeover launched in the depths of the Asian Financial Crisis is a great yarn, told with intelligence and wit. But it's also the best account I've read of the daring and sheer tenacity it takes to get such a massive deal done―qualities that have made Shan one of Asia's most respected investors."
― Steven Rattner, Chairman and CEO, Willett Advisors
"Money Games is the anatomy of one of the most iconic transactions of the Asian Financial Crisis and its aftermath. Shan has created one of the most candid, compelling, and insightful accounts of a Crisis whose scars still linger years later. It is also a salutary reminder that investment is not a zero-sum game: a good deal, well-executed, can have benefits for investors, industries, and taxpayers alike."
― Henny Sender, Chief Correspondent, International Finance, Financial Times
"Money Games is more than just a clear-eyed retelling of a major take-over and corporate turn-around tale. It's a story about how the worlds of business, politics, and culture collided at a critical moment in history and a treasure trove of deal-making lessons learned from the trenches."
― Bruce Kogut, Sanford C. Bernstein & Co. Professor of Leadership and Ethics, Columbia University
"'Shan's detailed narration brings the reader right into the heart of a world we rarely see beyond the headlines. An essential book for anyone involved in private investment, and a fascinating read for curious outsiders as well."
― Mark Machin, President and CEO, Canada Pension Plan Investment Board
"Weijian Shan gives readers a fascinating behind-the-scenes tour of one of Asia's most politically sensitive and economically complex bank rescues by a foreign private equity firm, full of dramatic personalities, negotiating tricks, and financial insight. Money Games is a must-read for anyone who wants to learn what it takes to close a deal, rescue a company, and then exit with a profit―anywhere in the world."
― Pete Sweeney, Asia Economics Editor and Columnist, Reuters Breakingviews
"Weijian Shan succeeds in telling the story of a highly complex, multidimensional transaction in an incredibly accessible style without sacrificing any of the detail and educational value. Along the way, the reader gets a fantastic account of private equity and how the buyout world works via an exciting deal with a happy ending. I can't wait to see the movie!"
― Joshua Rosenbaum, Managing Director and Head of the Industrials and Diversified Services Group, RBC Capital Markets