Lerner, Joshua; Bernstein, Shai; Schoar, Antoinette - 2009
This paper examines the direct private equity investment strategies across sovereign wealth funds and their … industry P/E ratios of their home investments drop in the year after the investment, while they have a positive change in the … P/E industries, which see an increase in the P/E ratios in the year after the investment. By way of contrast, funds with …