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Title:

How Persistent is Private Equity Performance? Evidence from Deal-Level Data

Document type:
Misc
Author(s):
Braun, R.; Jenkinson, T.; Stoff, I.
Non-TUM Co-author(s):
ja
Cooperation:
international
Abstract:
The persistence of returns is a critical issue for investors in their choice of private equity managers. Most academic research, and industry practice, considers the performance of successive limited partnership funds. This is problematic given that performance is only known when the fund has exited all its investments, which often takes a decade or more, and relative performance benchmarking is notoriously difficult. In this paper we approach the issue in a different way, using a unique databas...     »
Intellectual Contribution:
Discipline-based Research
Year:
2013
Key publication:
Nein
International:
Ja
Commissioned:
not commissioned
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