Private Equity: Fund Types, Risks and Returns, and by Douglas Cumming

By Douglas Cumming

A accomplished examine the non-public fairness arena

With deepest fairness differing from different asset sessions, it calls for an entire new technique for these educated in additional conventional investments corresponding to shares and bonds. yet with the proper counsel, you could achieve a company knowing of every thing inner most fairness has to offer.

This trustworthy source presents a entire view of personal fairness through describing the present nation of analysis and top practices during this enviornment. concerns addressed contain the constitution of non-public fairness money and fundraising, the monetary and actual returns of non-public fairness, and the constitution of non-public fairness investments with investees, to call a few.

  • Discusses the function of personal fairness in modern monetary environment
  • Provides foreign views on deepest equity
  • Details the law of personal fairness markets

Filled with in-depth insights and specialist recommendation, this publication offers you a greater figuring out of non-public fairness constructions and placed you in a greater place to degree and examine their performance.

Show description

Read Online or Download Private Equity: Fund Types, Risks and Returns, and Regulation (Robert W. Kolb Series) PDF

Best corporate finance books

Public Policy for Venture Capital: A Comparison of the United States and Germany

Enterprise capital is generally considered as a massive driving force of financial development. whereas the united states has the most important and so much subtle enterprise capital industry on the earth, its German counterpart has only in the near past started to mature, and diverse governmental schemes exist that are supposed to support accelerate the advance of the German industry.

Building financial models with Microsoft Excel

A finished advisor to construction monetary versions construction monetary types with Microsoft Excel + CD-ROM presents starting or intermediate point desktop clients with step by step directions on construction monetary types utilizing Microsoft Excel-the most well-liked spreadsheet application on hand. The accompanying CD-ROM comprises Excel worksheets that music the process the ebook and make allowance readers to construct their very own monetary versions.

Derivatives: A Manager's Guide to the World's Most Powerful Financial Instruments

As a company supervisor or govt, when you've got little touch with the particular day by day buying and selling of derivatives contracts. Regardless, your oversight obligations position your profession at once within the arms of competitive derivatives investors. Do you actually be aware of what they're as much as? DERIVATIVES is the 1st and simply ebook written for the executive who's now not a derivatives professional yet is accountable for the specialists.

Entrepreneurship in Finance: Successfully Launching and Managing a Hedge Fund in Asia

Taking into consideration launching your personal hedge fund? are looking to study extra concerning the various steps fascinated with developing and scaling a hedge fund? are looking to comprehend what are the worldwide most sensible practices so that it will develop your latest hedge fund and allure institutional traders? This e-book is the 1st hands-on booklet to set out in concrete and functional phrases some of the steps and concerns essential to effectively release and deal with a hedge fund in Asia, with a selected concentrate on Hong Kong and Singapore.

Extra resources for Private Equity: Fund Types, Risks and Returns, and Regulation (Robert W. Kolb Series)

Sample text

The structure and governance of venture capital organizations. Journal of Financial Economics 27:473–521. Schmidt, Daniel, and Mark Wahrenburg. 2003. Contractual relations between European VC funds and investors: The impact of reputation and bargaining power in contract design. CFS Working Paper 2003/15. Siegel, Robin, Eric Siegel, and Ian MacMillan. 1988. Corporate venture capitalists: Autonomy, obstacles, and performance. Journal of Business Venturing 3:233–247. Takahashi, Dean, and Seth Alexander.

The price of diversifiable risk in venture capital and private equity. Working Paper, Columbia University. Kanniainen, Vesa, and Christian Keuschnigg. 2003. The optimal portfolio of start-up firms in venture capital finance. Journal of Corporate Finance 9:521–534. Kaplan, Steve, and Richard Ruback. 1995. The valuation of cash-flow forecasts: An empirical analysis. Journal of Finance 50 (4):1059–1093. Kaplan, Steve, and Antoinette Schoar. 2005. Private equity performance: Returns, persistence, and capital flows.

Internal rate of return studies show the mean internal rate of return for venture capital and buyout funds (equally and value weighted). , S&P 500) (Kaplan & Schoar; Phalippou & Gottschalg), or both the risk-free rate (outflows), and the market index rate (inflows) (Ljungqvist & Richardson). a. a. for buyout funds. a. a. for buyout funds. Finally, Phalippou and Gottschalg (2009) report higher returns for their buyout sample, as compared to their venture capital sample. In sum, sample composition matters.

Download PDF sample

Rated 4.32 of 5 – based on 41 votes