If you were to ask me about my favorite book on private equity, I would say The Private Equity Playbook by Adam Coffey. The book is easy to read, the math is simple and impactful, and the stories are based on a former CEO who understands the intricacies behind private equity.

Adam has released the second edition of this book, which is about 20 percent longer with new material. This conversation addresses the continued growth of private equity, committed capital, Adam's 70-30 rule, and a funny locksmith story.