Private Equity: A Memoir

Written by Carrie Sun

Narrated by Carrie Sun

One of TIME Magazine's Must-Read Books of the Year

"The joys of Sun’s memoir lie in the absurdity of her tasks: coaxing a famous athlete to a company party, sourcing Mitt Romney’s phone number on a deadline, coordinating private-jet departures… It’s [Sun’s] personal revelations that elevate the book above a typical tell-all.” —TIME Magazine

A gripping memoir of one woman’s self-discovery inside a top Wall Street firm, and an urgent indictment of privilege, extreme wealth, and work culture

Carrie Sun can’t shake the feeling that she’s wasting her life. The daughter of Chinese immigrants, Carrie excelled in school, graduated early from MIT, and climbed the corporate ladder, all in pursuit of the American dream. But at twenty-nine, she feels unmoored from her career path and is trapped in an unhappy engagement. So when she gets the rare opportunity to work at one of the most prestigious hedge funds in the world, she knows she can’t say no. Fourteen interviews later, she’s in.

Carrie is the sole assistant to the firm’s billionaire founder. She manages his work life, becoming the right hand to an investor who can move mountains and markets with a single phone call. Eager to impress, she soon finds her identity swallowed whole as she plays the game at the highest levels. With her physical and mental health deteriorating, Carrie begins to rethink what it means to be consumed by this world of extremes. A searing examination of our relationship to work, Private Equity is a universal tale of self-invention from a dazzling new voice, daring to ask what we’re willing to sacrifice to get to the top—and what it might take to break free and leave it all behind.

• Language: English
• Publisher: Penguin Audio
• Release date: Feb 13, 2024
• ISBN: 9780593829943

Reviews for Private Equity

[jacsun · Rating: 4 out of 5 stars]

This is a female version of the movie, “Wall Street” from 1987 which reminds readers of the scene when Michael Douglas said, “Greed is good.” Or, “The Wolf on Wall Street” when Leonardo DiCaprio stepped into the shocking gluttony of money at parties.

Carrie Sun turned her back on an engagement with her wealthy boyfriend, Josh. He asked her to be his full-time wife, making him the sole breadwinner. The idea that she would have a career in finance was beyond his comprehension. Clearly, they didn’t need the extra income as he was taking over his father’s very successful business. She was energetic, smart and competitive. She took off her engagement ring and stepped into a full-time job.

Some said she had the best job ever in one of the top hedge fund companies. Boone was the CEO and she was his highly-efficient assistant. Her talents were beyond being an assistant but that’s what she wanted to do. He needed someone to organize his world and she did just that. It was rather exhausting reading about how she was trying to be the perfect employee working around the clock.

Sure, he gave her gifts to keep her going — thousand dollar spa treatments, fitness sessions, vacations, clothes and and shopping sprees along with a big salary. In return, he asked her to speak faster, do faster and decide faster. She would organize family gatherings when a $1,000 custom cake would be tossed in the garbage when nobody ate it. It’s when the gold was in the palms of their hands with no worries.

Yet, she did worry about the middle class that was paying taxes while Boone and his friends escaped it. He had no idea what it was like for the hard workers in America. He, and his capitalist friends, Jared and Ivanka, were living in luxury while many suffered. He told her, “Greed is good because it makes things predictable.” How long could she keep up with his ongoing demands? Her nerves were exploding.

This reminded me so much of the movies about the billionaires and yet, this is a true story. Carrie is an American-Asian immigrant who once was living in poor surroundings until she graduated from the best universities and able to find the American dream. It’s a book that makes you think especially when Boone said, “Money can solve nearly everything.”

The first part explains a lot about her work with the hedge funds which may lose some readers who may feel like they picked up a book on how to invest money. Yet, it follows up with the psychology of what it was like for her to be in this position with some inspirational messages. One may wonder why she was so attracted to Josh and Boone — both with deep pockets. She explains much of it in the second half of the book. As someone who wanted to write, she did just that and I will look forward to reading whatever comes next.

My thanks to Penguin Press and NetGalley for the opportunity to read an advanced copy of this book with an expected release date of February 13, 2024.

[froxgirl · Rating: 5 out of 5 stars]

This incredible memoir describes a work life so insane that it could be a nightmarish fictional story. The author, who graduated from MIT with a dual degree, worked in finance as a well-paid investment manager and analyst but makes a career swivel when she takes an assistant position (for which only women are hired) with the CEO of a top hedge fund. The billionaire founder, here named Boone, is a completely demanding boss, who basically outsources every responsibility that does not involve direct solicitation of new accounts to Carrie. At first, she is exhilarated by her enormous workload and by Boone's reliance on her wide variety of skills, but as a year goes by, she realizes that the firm does nothing other than produce more money for privileged individuals who don't need it. Boone refuses to acknowledge Carrie's request for her own assistant, and, struggling with physical deterioration and mental exhaustion, she reaches a crossroad when the markets falter and Boone's seeming invulnerability is threatened. The portrait of Carrie shows the influences of her difficult immigrant childhood, parental pressures, and her own relentless need to achieve. The reader admires her but, way before Carrie recognizes it, knows that her work life is not sustainable. This is a most personal and revealing read of an incredible experience that should be shared with anyone attending business school as a cautionary tale.

Quote: "They were the ones with the luxury of time to wait out storms in palatial shelters, while the rest of us, with no areas of refuge, watched the weather to stay alive."

[jetangen4571 · Rating: 4 out of 5 stars]

She survived and awakened to a different reality. An overachiever by nature and upbringing she eventually survived toxic work situations that hid behind the need to gain wealth for company and self. She also survived the kind of toxic personal relationship where the man felt that she should serve him as he felt that he/his work was of greater importance. The writing was a bit pedestrian and rarely cohesive, but her struggles after awakening to her true value is of great importance.
I requested and received an EARC from PENGUIN GROUP The Penguin Press/Penguin Press via NetGalley.