Private Debt Fund Returns, Persistence, and Market Conditions
نویسندگان
چکیده
This paper examines net-of-fees private debt fund performance, performance persistence across funds managed by the same general partner and a partner’s ability to time market. We document that outperform bond equity market benchmarks in cross-section, with high dispersion strategies quartiles. Lagged significantly affects current performance. While ex ante post credit conditions strongly affect partners can only partially them.
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ژورنال
عنوان ژورنال: Financial Analysts Journal
سال: 2022
ISSN: ['1938-3312', '0015-198X']
DOI: https://doi.org/10.1080/0015198x.2022.2092384