institutional allocations to private equity and across-fund diversification, our analysis reveals that certainty equivalent returns … in PE fund investing are 2-to-8% lower than if inferred from average fund performance levels. The results provide new …Uncertainty about manager skill and diversification constraints are hallmarks of investing in alternative assets. This …

to estimate the risk and return profile of any selected fund by the respective funds's management features, investment … focus and investment stage. Investors will thereby be able to choose a fund which matches their desired risk and return …For years, research has been conducted to correctly model and predict the risk and return structures of Private Equity …

portfolio returns on market returns to measure risk produces risk measures that are not credible. Institutional investors … portfolio returns to market returns. Examples for venture capital and buyout portfolios show that the true risk measures are … alternative approach to measuring risk directly which explicitly addresses the staleness of reported values for venture capital …

VC firm experience only relates positively to performance when outstanding (e.g. 3rd generation fund or above). However … discusses how their heterogeneity leaves room for VC firms to pursue diversification strategies and minimise the correlation …

potential of the fund’s management to allocate resources to portfolio companies. Our findings contribute to the understanding of …Recent research has pointed out the need to differentiate between good versus poor performance of venture capital and … private equity investments and to analyze the factors that determine the ‘winners’ and ‘losers’ of a fund. This study examines …

We evaluate the performance of limited partners' (LPs) private equity investments over time. Using a sample of 14 …,380 investments by 1,852 LPs in 1,250 buyout and venture funds started between 1991 and 2006, we find that the superior performance of …

regarding the exit channels for their portfolio companies? Is a secondary buyout only an 'exit of last resort'? And furthermore … between 1995 and 2008, the authors empirically analyze the return potential of different exit channels including public … company as well as market related factors. They show that portfolio companies with a higher lending capacity are more likely …

better buyout fund performance than has previously been documented – performance consistently has exceeded that of public … indices and risk controls. Performance in Cambridge Associates and Preqin is qualitatively similar to that in Burgiss, but is …We study the performance of nearly 1400 U.S. buyout and venture capital funds using a new dataset from Burgiss. We find …

the PE funds' portfolio companies which boosts the funds' equity returns. On the other hand, there is information …