Marquez, Robert; Nanda, Vikram; Yavuz, M. Deniz - Weiss Center for International Financial Research, … - 2010
Evidence indicates that private equity funds, unlike mutual funds, deliver persistent abnormal returns and that top performing funds are often oversubscribed. Why do private equity funds appear to leave money on the table, rather than, say, increasing fund size and/or fees? We argue that private...