Small-scale private equity: demand versus supply

Private Equity and Venture Capital Funds: What Drives the Demand and Supply?

Access versus Selection: What Drives Limited Partners’ Private Equity Returns?

An institutional investor’s private equity fund investment returns are determined by his/her access to and skills in selecting the best funds, but little is known about the extent of these two effects. Using a large sample of European pension funds’ private equity fund investments, we observed that limited partners are unable to select better funds for reinvestment compared to funds in which th...

Investing in Private Equity

Can private equity deliver on equity?

a Save the Children UK, 1 St John’s Lane, London, EC1M 4AR, England. Correspondence to Giorgio Cometto (e-mail: [email protected]). In June 2009, a new Health in Africa Fund was launched by the International Finance Corporation (IFC), the branch of The World Bank group mandated with supporting and expanding the private for-profit sector. This Fund will be managed by Aureos Capital, a p...

Valuing private equity∗

To understand the pricing and performance of private equity (PE), we analyze the incomplete-markets portfolio choice problem facing a risk-averse limited partner (LP) investing in liquid stocks and bonds along with an illiquid PE investment. A general partner (GP) manages the PE asset and generates alpha on it and charges management and performance fees via carried interest in return. Our compl...