Influence of the Financial Crisis on the Fundraising of the European Private Equity Industry

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (865 download)

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Book Synopsis Influence of the Financial Crisis on the Fundraising of the European Private Equity Industry by : Simon Troxler

Download or read book Influence of the Financial Crisis on the Fundraising of the European Private Equity Industry written by Simon Troxler and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Drivers of Venture Capital Fundraising and the Financial Crisis

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Publisher : GRIN Verlag
ISBN 13 : 3656065977
Total Pages : 29 pages
Book Rating : 4.6/5 (56 download)

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Book Synopsis Drivers of Venture Capital Fundraising and the Financial Crisis by : Nicolas Klein

Download or read book Drivers of Venture Capital Fundraising and the Financial Crisis written by Nicolas Klein and published by GRIN Verlag. This book was released on 2011-11 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2010 in the subject Economics - Finance, grade: 1,3, Technical University of Munich, language: English, abstract: This paper gives an overview on the main drivers for venture capital fundraising, and their impact on the supply and demand side of investments. First the differences between captive and independent venture capital firms and the difference between the supply and demand of venture capital investment are explained to prevent misunderstandings. The determinants of venture capital fundraising identified here are the Initial Public Offering, the overall economic growth, the capital gains tax rates, the labor market conditions, the financial reporting requirements, the firm's specific performance and reputation, the existence and regulatory changes of private pension funds and governmental activities and support programs. In addition the impact of the financial crisis on venture capital fundraising has been identified and analyzed in four categories. The risk aversion as a consequence of the financial crisis, the decrease of valuation of venture capital-backed startups, the reduced interest rates and new restrictions and laws designed to protect countries and markets against future financial crisis.

Private Equity in the Shadow of the Crisis

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (863 download)

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Book Synopsis Private Equity in the Shadow of the Crisis by : Mark Lemnitz

Download or read book Private Equity in the Shadow of the Crisis written by Mark Lemnitz and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the impact of the financial crisis on a large sample of US buyout funds and investigates the macroeconomic drivers behind the observed developments by means of a regression analysis. Following the typical private equity life cycle, four issues are considered: (i) Fundraising developments, (ii) investments in portfolio companies, (iii) performance developments, and (iv) exit activity. The evidence presented in the study gives strong support to the view that the private equity industry was substantially affected by the financial crisis and has not fully recovered, yet. In addition, the results suggest that the activities of buyout funds are driven by economic conditions, the state of the equity market, and market entry/exit conditions.

Private Equity at Work

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Publisher : Russell Sage Foundation
ISBN 13 : 1610448189
Total Pages : 396 pages
Book Rating : 4.6/5 (14 download)

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Book Synopsis Private Equity at Work by : Eileen Appelbaum

Download or read book Private Equity at Work written by Eileen Appelbaum and published by Russell Sage Foundation. This book was released on 2014-03-31 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity firms have long been at the center of public debates on the impact of the financial sector on Main Street companies. Are these firms financial innovators that save failing businesses or financial predators that bankrupt otherwise healthy companies and destroy jobs? The first comprehensive examination of this topic, Private Equity at Work provides a detailed yet accessible guide to this controversial business model. Economist Eileen Appelbaum and Professor Rosemary Batt carefully evaluate the evidence—including original case studies and interviews, legal documents, bankruptcy proceedings, media coverage, and existing academic scholarship—to demonstrate the effects of private equity on American businesses and workers. They document that while private equity firms have had positive effects on the operations and growth of small and mid-sized companies and in turning around failing companies, the interventions of private equity more often than not lead to significant negative consequences for many businesses and workers. Prior research on private equity has focused almost exclusively on the financial performance of private equity funds and the returns to their investors. Private Equity at Work provides a new roadmap to the largely hidden internal operations of these firms, showing how their business strategies disproportionately benefit the partners in private equity firms at the expense of other stakeholders and taxpayers. In the 1980s, leveraged buyouts by private equity firms saw high returns and were widely considered the solution to corporate wastefulness and mismanagement. And since 2000, nearly 11,500 companies—representing almost 8 million employees—have been purchased by private equity firms. As their role in the economy has increased, they have come under fire from labor unions and community advocates who argue that the proliferation of leveraged buyouts destroys jobs, causes wages to stagnate, saddles otherwise healthy companies with debt, and leads to subsidies from taxpayers. Appelbaum and Batt show that private equity firms’ financial strategies are designed to extract maximum value from the companies they buy and sell, often to the detriment of those companies and their employees and suppliers. Their risky decisions include buying companies and extracting dividends by loading them with high levels of debt and selling assets. These actions often lead to financial distress and a disproportionate focus on cost-cutting, outsourcing, and wage and benefit losses for workers, especially if they are unionized. Because the law views private equity firms as investors rather than employers, private equity owners are not held accountable for their actions in ways that public corporations are. And their actions are not transparent because private equity owned companies are not regulated by the Securities and Exchange Commission. Thus, any debts or costs of bankruptcy incurred fall on businesses owned by private equity and their workers, not the private equity firms that govern them. For employees this often means loss of jobs, health and pension benefits, and retirement income. Appelbaum and Batt conclude with a set of policy recommendations intended to curb the negative effects of private equity while preserving its constructive role in the economy. These include policies to improve transparency and accountability, as well as changes that would reduce the excessive use of financial engineering strategies by firms. A groundbreaking analysis of a hotly contested business model, Private Equity at Work provides an unprecedented analysis of the little-understood inner workings of private equity and of the effects of leveraged buyouts on American companies and workers. This important new work will be a valuable resource for scholars, policymakers, and the informed public alike.

Private Equity Investment – A theoretical Analysis of Process, Parties and Requirements

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Publisher : GRIN Verlag
ISBN 13 : 3656020124
Total Pages : 41 pages
Book Rating : 4.6/5 (56 download)

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Book Synopsis Private Equity Investment – A theoretical Analysis of Process, Parties and Requirements by : Sean Miller

Download or read book Private Equity Investment – A theoretical Analysis of Process, Parties and Requirements written by Sean Miller and published by GRIN Verlag. This book was released on 2011-10-04 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studienarbeit aus dem Jahr 2011 im Fachbereich BWL - Investition und Finanzierung, FOM Essen, Hochschule für Oekonomie & Management gemeinnützige GmbH, Hochschulleitung Essen früher Fachhochschule (-), Veranstaltung: Investment & Controlling, Sprache: Deutsch, Abstract: The majority of companies are in need of investment capital to pursue their growth strategies. Also, a large number of companies only display a low equity ratio and as a result possess bad credit worthiness. In this regard, Private Equity represents a good alternative solution providing investment capital. It allows companies to make investments to solidify or improve their position among the competitors on the market. In times where banks and credit institutions exercise restraints, the interest of companies in Private Equity even increases. Nevertheless, particularly in Germany the growing importance of Private Equity is accompanied by great controversy. One group argues that often the Private Equity investors in their function as majority shareholders neglect the sustainable development of their portfolio companies in favor of their temporary value increase. On the other hand numerous studies indicate that companies benefit from Private Equity investments. According to these studies, companies, which have entered cooperation with Private Equity investors, comparatively, display stronger revenue growth and productivity and also generate more jobs.1 In this respect, the quality of the partnership between the portfolio company and the Private Equity investment association is a decisive success factor and must not be underestimated. Private Equity deals only generate win-win-situations if both parties are professionally engaged. Lack of preparation can either lead to a one-sided relationship – leaving one party at a disadvantage –, or even to a bad overall business, in which both sides incur losses. This paper takes the perspective of each party and points out which specific aspects they have to consider in order having good chances of benefiting from a Private Equity deal. This leads to the analysis of several critical stages within the investment process: investment stages in general, transaction process, due diligence, business valuation and exit. Prior the meaning, history and significance of Private Equity are described.

Private Equity's Public Distress

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Publisher : CreateSpace
ISBN 13 : 9781500558048
Total Pages : 298 pages
Book Rating : 4.5/5 (58 download)

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Book Synopsis Private Equity's Public Distress by : Sebastien Canderle

Download or read book Private Equity's Public Distress written by Sebastien Canderle and published by CreateSpace. This book was released on 2011-12-27 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2008, the world of private equity experienced the worst crisis in its history. The PE industry is very secretive and therefore little known or understood. Still, it manages trillions of dollars in debt and equity, owns thousands of companies across the world, and frequently accounts for more than half of corporate acquisitions in any given year. What goes on behind the doors of these very powerful investment institutions that manage money on behalf of the largest pension fund managers, commercial banks, universities and insurance companies? What can explain why such sophisticated investors did not see the credit crunch coming? Or if they saw it coming, why didn't they act accordingly to prepare themselves and avoid losing billions of dollars of their investors' equity? With an urgent need for answers, Private Equity's Public Distress gives a unique account of the practices and principles applied by LBO funds over the last ten years. From stapled financing, public-to-privates and vendor due diligence to covenant-lite debt packages, secondary buyouts and accelerated auctions, eventually private equity hit a mid-life crisis. In particular, through the Candover story, the author describes how one of the world's oldest and largest private equity houses failed to adapt to the increasingly complex environment, stretching further away from its area of competence and the home market that it dominated for over 20 years. We observe the changes endured by the LBO sector from 1980 until the firm's eventual downfall in December 2010. We see the sector morphs from a niche activity of the venture capital world into a global industry capable of reshaping the rules of mergers and acquisitions. From Candover's humble beginnings in a one-room office in the middle of London's financial district to a pan-European operator with Asian outposts and several billions of Euros under management, we witness the mutation of a British icon into a global challenger and the irresistible push forward in order to try and keep pace with a new breed of competitors: the global mega-fund powerhouse. Candover went from being one of the most revered European institutions to becoming the biggest buyout victim of the credit crunch. Investment errors, corporate governance issues and an intense competitive landscape are only half the story. The biggest bubble mania in the history of the LBO industry turning into the most dramatic financial meltdown since the Great Depression helped precipitate the firm into trouble and made it lose control of its own destiny. How did it go so wrong? What are the lessons for the private equity's main protagonists and, more to the point, what is the future of an overextended sector that lost a great deal of credibility during the recent debt frenzy? This book brings you the answers.

The Future of Finance

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Publisher : John Wiley & Sons
ISBN 13 : 0470825111
Total Pages : 235 pages
Book Rating : 4.4/5 (78 download)

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Book Synopsis The Future of Finance by : Dan Schwartz

Download or read book The Future of Finance written by Dan Schwartz and published by John Wiley & Sons. This book was released on 2010-03-29 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dan Schwartz has done a masterful job of synthesizing the thoughts of some of the best minds in the private equity business along with his own to create a superb discussion of the industry, past, present, and most importantly where it is going. This is a must read for anyone in the private equity world and for those considering the field. Leonard Harlan Chairman, Executive Committee, Castle Harlan Dan Schwartz was a first-hand witness to the birth of private equity in Asia and has chronicled its explosive growth over the past two decades. In The Future of Finance he uses an insider’s perspective to full effect, pulling together the views of many practitioners to illuminate both the roots of the 2008 global crisis and private equity’s potential role in rebuilding our financial system. Schwartz’ fast-paced, conversational style makes for a welcome contrast to dry economic analysis—well worth reading for both business leaders and students of finance. Dan Carroll Managing Partner, TPG Dan Schwartz’s The Future of Finance offers an insightful and compelling window into the world of private equity and venture capital. Schwartz has leveraged his more than 20 years of industry experience to produce a well researched and nuanced work that will prove invaluable to anyone interested in these fields. Joe Bae Managing Partner, Kohlberg Kravis Roberts & Co. Asia For anyone concerned about the future economic impact of global innovation, job creation, and finance, Dan Schwartz’s comprehensive new treatise is a must read. Replete with in-depth perspectives of dozens of the most senior global venture capital and private equity leaders and numerous case study examples, this gem artfully explains the dramatic changes happening in these vital industries and how government leaders, policy makers, entrepreneurs and investors must adapt for continuing success in the second decade of the 21st century. Dixon R. Doll Cofounder and General Partner, DCM Chairman, U.S. National Venture Capital Assoc. (2008-09) From cottage industry to multi-billion asset class, Asian private equity has transformed the region’s financial and corporate landscape in two short decades. Dan Schwartz was present at the beginning of this fascinating era as iconic spokesman and entrepreneurial founder of AVCJ. His contribution as chief convener to the industry helped shape an asset class. The Future of Finance is forward looking while drawing upon the rich past of an industry’s development amid volatile cycles, financial crises, pandemics, capital excess, capital drought and Darwinian struggles. Many of the prime movers, who paved the way to the future, have shared privileged views with Dan over the years and now on these insightful pages. Philip Bilden Managing Director, HarbourVest Partners (Asia) Dan Schwartz’s extensive and experienced network has enabled him to tap the key issues and insights of today’s leading private equity and venture capital practitioners around the world. This enlivens Dan’s stroll through Europe, North America and Asia as he examines the development of these private capital markets…and these insights shape the prism through which he views a future for private equity in the coming decades. Bill Ferris Executive Chairman, Champ Private Equity Dan Schwartz is the person best placed to write about the history of the private equity industry in Asia—he was there right from the beginning. In nearly two decades, he has been a keen observer of the industry’s developments and market trends. He was the cheerleader when the industry was down and he has been a friend to most of the leading practitioners, a position that provides him with unique insights into the actual workings of the industry as described in the book. The “New Corporate Theory” introduced in the last section of the book is an interesting thesis. If it comes to fruition, it will transform the shareholder-driven corporate governance model as we know it today. Tang Kok Yew Chairman and Managing Partner, Affinity Equity Partners (HK) It would be hard to find a better guide to the private equity world. Dan Schwartz has been central to providing thought leadership in the Asian private equity markets and a leading commentator worldwide for over 20 years, he also has had impeccable timing as an entrepreneur. Jeremy Coller CEO and CIO, Coller Capital

The Debt Trap

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Publisher : Harriman House Limited
ISBN 13 : 0857195417
Total Pages : 542 pages
Book Rating : 4.8/5 (571 download)

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Book Synopsis The Debt Trap by : Sebastien Canderle

Download or read book The Debt Trap written by Sebastien Canderle and published by Harriman House Limited. This book was released on 2016-09-19 with total page 542 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the inside story of private equity dealmaking. Over the last 40 years, LBO fund managers have demonstrated that they are good at making money for themselves and their investors. But when one looks beneath the surface of the transactions they engineer, it is apparent that these deals can, at times, go spectacularly wrong. Through 14 business stories, all emanating from the noughties' credit bubble and including headline-grabbing names like Caesars, Debenhams, EMI, Hertz, Seat Pagine Gialle and TXU, The Debt Trap shows how, via controversial practices like quick flips, repeat dividend recaps, heavy cost-cutting and asset-stripping, leveraged buyouts changed, for better or for worse, the way private companies are financed and managed today. From technological disruption in the worlds of music recording and business-directory publishing to economic turbulence in the gambling, real estate and energy sectors, highly levered corporations are often incapable of handling market corrections when debt commitments start piling up. Behind the historical events and the financial empires erected by some of the elite private equity specialists, these 14 in-depth case studies examine how value-maximising techniques and a short-cut mentality can impact investment returns and portfolio assets. Whether you are a PE practitioner, investor, business manager, academic or business student, you will find The Debt Trap to be an authoritative and fascinating account.

A Comparative Examination of Private Equity in the United States and Europe

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Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis A Comparative Examination of Private Equity in the United States and Europe by : Alexandros L. Seretakis

Download or read book A Comparative Examination of Private Equity in the United States and Europe written by Alexandros L. Seretakis and published by . This book was released on 2013 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity has transformed from a small asset class into a major player in the global economy. Despite being a U.S. invention, the private equity model has also managed to spread throughout Europe. Recently, the spotlight has been put on the private equity industry for a number of reasons: the recent financial crisis; the adoption of the Dodd-Frank Wall Street Reform and Consumer Protection Act in the U.S. and the Alternative Investment Fund Managers Directive in the E.U.; and the run of Mitt Romney, founder of the prestigious U.S. private equity firm Bain Capital, for President of the United States. Despite this attention, a comparative examination of private equity regulation is absent from academic literature. This paper seeks to fill that gap and offers a comparative assessment of the legal framework governing private equity firms and transactions in both Europe and the U.S. This comparative examination will reveal that Europe has a particularly restrictive legal environment, which one would assume would inhibit European private equity activity and cause it to substantially lag behind the U.S. Nonetheless, underlying economic forces have provided and continue to provide a boost to the European market, allowing Europe to compete with the U.S. on an equal footing. Unraveling these underlying economic forces shall be the other major goal of this paper. When it comes to European private equity, there is no causation between the strictness of the legal regime and economic development. Rather, economic development shapes its own path and is unaffected by the prevailing legal regime.

Proposals for the Regulation of Venture Capital and Private Equity after the Financial Crisis

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Publisher :
ISBN 13 : 9783656105770
Total Pages : 72 pages
Book Rating : 4.1/5 (57 download)

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Book Synopsis Proposals for the Regulation of Venture Capital and Private Equity after the Financial Crisis by : Silvia Weißmacher

Download or read book Proposals for the Regulation of Venture Capital and Private Equity after the Financial Crisis written by Silvia Weißmacher and published by . This book was released on 2012-02 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studienarbeit aus dem Jahr 2010 im Fachbereich BWL - Investition und Finanzierung, Note: 2,0, Technische Universität München, Sprache: Deutsch, Abstract: In this seminar paper, I demonstrate and evaluate proposals for the regulation of VC and PE including HF in Germany, Europe and the United States (US) after the global financial crisis. In the first chapter of the main part, I describe the impacts of the financial crisis on PE and VC. In the second part, a short overview of the present regulatory framework in Germany, Europe and the United States is presented. The core of this seminar paper will be chapter 4, 5 and 6 in which proposals and its assessment for a regulation of PE and VC after the financial crisis are exposed, especially the so-called Alternative Investment Fund ManagerDirective (AIFMD), an European initiative to regulate fund manger's activities. Further, the estimation of the AIFMD by the European PE and VC Association (EVCA), the "Bundesverband Deutscher Kapitalbeteiligungsgesellschaften (BVK)" and the international press will offer an all-embracing appraisal. With an executive summary, I conclude my seminar paper.

Private Equity and Venture Capital in Europe

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Publisher : Academic Press
ISBN 13 : 0128122552
Total Pages : 352 pages
Book Rating : 4.1/5 (281 download)

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Book Synopsis Private Equity and Venture Capital in Europe by : Stefano Caselli

Download or read book Private Equity and Venture Capital in Europe written by Stefano Caselli and published by Academic Press. This book was released on 2018-01-26 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global financial markets might seem as if they increasingly resemble each other, but a lot of peculiar aspects qualify different markets with different levels of development. Private equity investors can take advantage of these variations. Structured to provide a taxonomy of the business, Private Equity and Venture Capital in Europe, Second Edition, introduces private equity and venture capital markets while presenting new information about the core of private equity: secondary markets, private debt, PPP within private equity, crowdfunding, venture philanthropy, impact investing, and more. Every chapter has been updated, and new data, cases, examples, sections, and chapters illuminate elements unique to the European model. With the help of new pedagogical materials, this Second Edition provides marketable insights about valuation and deal-making not available elsewhere. - Covers new regulations and legal frameworks (in Europe and the US) described by data and tax rates - Features overhauled and expanded pedagogical supplements to increase the versatility of the Second Edition - Focuses on Europe - Includes balanced presentations throughout the book

An Analysis of the Current Financial Crisis' Impact on Private Equity Funds' Investment Policy

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (896 download)

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Book Synopsis An Analysis of the Current Financial Crisis' Impact on Private Equity Funds' Investment Policy by : Johannes Donabauer

Download or read book An Analysis of the Current Financial Crisis' Impact on Private Equity Funds' Investment Policy written by Johannes Donabauer and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Performance of Private Equity Funds

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Publisher : GRIN Verlag
ISBN 13 : 3638419770
Total Pages : 98 pages
Book Rating : 4.6/5 (384 download)

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Book Synopsis Performance of Private Equity Funds by : Taro Niggemann

Download or read book Performance of Private Equity Funds written by Taro Niggemann and published by GRIN Verlag. This book was released on 2005-09-20 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2005 in the subject Business economics - Investment and Finance, grade: 1.0, Otto Beisheim School of Management Vallendar, course: Doppeldiplomprogramm WHU Koblenz / EM Lyon, language: English, abstract: Private equity is currently replacing hedge funds as the most observed asset class. And while mutual funds experience a decline of assets under management, buyout funds break all records as far as fund raising is concerned. The attractiveness of buyout funds among investors is often attributed to superior returns and to an allegedly lower correlation with other asset classes. However, buyout fund returns also show superior volatility. In addition to that risk factor, investors must face liquidity and transparency risk. It is common agreement that investors are compensated for the elevated risk through a return premium. This and the cited lower correlation prompt more and more investors to add private equity into their portfolios. The wide-spread opinion of superior private equity performance is backed by several studies. But the analysis of these studies reveal that a number of them employ methodologies which are disapproved of by experts on theoretical private equity performance measurement. Furthermore, some have a one-sided notion of financial performance. Benchmarking, risk and correlation data which are crucial for an overall performance assessment often lack. The analysis of a series of technically appropriate, objective studies shows that private equity has historically outperformed public equity with regard to returns, in Europe more than in the United States (US). What remains unsolved is to which extent this return premium rewards the inherent, additional risk of private equity investments. And what is more certain: the prevalent view on correlation seems to be wrong. Empirical evidence and qualitative analysis speak for high correlation between private equity and the major asset classes. The most important driver for individual fund performance appears to be the quality of fund management. Thereby, specialized teams outperform others. Moreover, specialized funds provide investors better opportunity to diversify their private equity portfolio. Fundraising and investment conditions for private equity funds in France and Germany are favorable, but the accomplishment of superior performance will become harder in the future. The rules of the private equity business are changing as operating leverage has replaced financial leverage as the essential value driver.

Private Equity Funds and the Financial Crisis

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Author :
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783848405299
Total Pages : 76 pages
Book Rating : 4.4/5 (52 download)

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Book Synopsis Private Equity Funds and the Financial Crisis by : Mikko Laiterä

Download or read book Private Equity Funds and the Financial Crisis written by Mikko Laiterä and published by LAP Lambert Academic Publishing. This book was released on 2012-02 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about private equity (PE) funds and decision making within those funds. Other topics covered in this study are private equity characteristics, fund life cycle, agency problems between different stakeholders and compensation of the general partners running the fund. A number of studies compare PE to public equity and the academic literature has evolved to explain performance by fund characteristics, fund investors' level of sophistication and economic conditions. However, the understanding of how existing funds invest, exit and perform under severe economic downturn is limited. In this book, I will address these three topics using data that were kindly provided by two institutional investors and includes all PE fund investments of these two entities from the beginning of 1990 to 30th June 2011. Due to there being persistent interest in PE performance, I also investigate the return in the total sample.

Private Equity in the United States and Europe

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Publisher :
ISBN 13 :
Total Pages : 7 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Private Equity in the United States and Europe by : Alexandros L. Seretakis

Download or read book Private Equity in the United States and Europe written by Alexandros L. Seretakis and published by . This book was released on 2016 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: A transformation of the private equity industry has occurred in recent years. The financial crisis of 2007-2008 and the sovereign debt crisis caused a substantial decline in private equity activity while a new wave of rules has substantially strengthened the oversight and regulation of the private equity industry. Analysis suggests the effects of market and regulatory developments will be particularly adverse for the European private equity industry. In contrast, private equity activity in the United States is likely to continue its growth aided by the revival of the U.S. economy and the measured approach of U.S. regulators toward the risks posed by the industry. The purpose of this chapter is to offer an analysis of market and regulatory developments in the private equity industry in the United States and Europe in the post-financial crisis era and to provide an assessment of the future of the private equity industry.

The Market Sentiment in European Private Equity and Venture Capital

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (119 download)

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Book Synopsis The Market Sentiment in European Private Equity and Venture Capital by : Helmut Kraemer-Eis

Download or read book The Market Sentiment in European Private Equity and Venture Capital written by Helmut Kraemer-Eis and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides unique insights into the impact of the COVID-19 crisis on the European private equity (PE) and venture capital (VC) ecosystem. It achieves this purpose in two ways. By exploiting the recent survey wave of EIF's signature BA/VC/PE MM survey series, which was launched just prior to the COVID-19 outbreak in Europe, we are able to gauge how the pandemic changed the sentiment among European fund managers. This qualitative exercise is complemented by the results from a simple time series model that simulates the potential impact of the COVID-19 pandemic on the European PE and VC markets. Our analysis provides evidence that the European PE/VC ecosystem faces unprecedented challenges in the aftermath of the COVID-19 pandemic. A strong policy response in support of the PE/VC markets is imperative, to which EIF will be an indispensable contributor.

The Financial Crisis's Impact on the Business Model of Private Equity Buyouts

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (897 download)

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Book Synopsis The Financial Crisis's Impact on the Business Model of Private Equity Buyouts by : Stephan Schürer

Download or read book The Financial Crisis's Impact on the Business Model of Private Equity Buyouts written by Stephan Schürer and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: