This case provides presents an abbreviated Limited Partnership Agreement for a global growth capital fund. The full legal document, normally about 200 pages long, has been boiled down to its essential parts. This case study can be used as a basis for a role play in which participants are split...

In June 2020, the U.S., unlike other regions of the world, faced a surge in cases of COVID-19. Immediately prior to this wave of cases, the largest mass protests in U.S. history took place. We show that when holding other factors constant, COVID-19 cases increased most in places where more...

We assemble a proprietary dataset of 395 private equity (PE) fund prospectuses to analyze fund performance and fundraising success. We analyze both quantitative and qualitative information contained in these documents using econometric methods and machine learning techniques. PE fund performance...

Currently, there is a widespread and strong demand for courses covering private equity funds. This pressure is understandable given that most students in business schools are seeking jobs in the private equity industry, and plenty of students in other fields also want to join. Private equity...

The story of Blackstone and Hilton is a defining moment of the private equity industry. This story involves a high stakes leveraged buyout, layoffs, allegations of corporate espionage, the revival of an iconic brand, a $14 billion capital gain, the largest ever in private equity, and the...

Using natural language processing, we score companies based on the frequency with which news articles contain both their names and terms Private Equity and Leveraged Buy-Out. An index is then created and can be updated seamlessly at high frequency, with the weights set as a function of a company...

We review the literature on the risks and returns of private equity funds, comparing the different datasets used in academic research. Irrespective of the datasets used, average returns seem to be lower than public equity returns and, in any event, less spectacular than often conjectured. Buyout...

This paper finds that venture capital funds that are expected to be backed by more skilled investors show no performance persistence but a significant flow-performance relationship. In contrast, funds that are expected to be backed by less skilled investors show performance predictability and...