Portfolio Strategies of Private Equity Firms

Theory and Evidence
2007
ISBN: 978-3-8350-0577-8
Verlag: Deutscher Universitätsverlag

Buch, Englisch, 177 Seiten, Paperback, Format (B × H): 148 mm x 210 mm, Gewicht: 292 g

Reihe: Innovation und Entrepreneurship

Driven by the convergence of international financial public markets, investors around the globe are searching for alternative asset classes which enable diversification of their portfolios while earning attractive returns. Private equity, denominating equity investments in privately held companies, promises to meet both criteria. As a result, over the last three decades, private equity has become an important ingredient in the portfolios of institutional investors, such as banks, insurance companies, and pension funds.

Ulrich Lossen explores the choice of portfolio strategies by private equity firms and the impact of this choice on funds’ performance. Therefore, he applies advanced econometric methods to a unique data set of private equity funds. In a first step, he analyzes the influence of external factors on the choice of private equity firms to diversify their portfolios across different dimensions, such as financing stages, industries, and geographic regions. Then, he examines the impact of such diversification on private equity funds’ performance. The findings can help investors and private equity managers in making proper investment decisions.

Zielgruppe

Research

Autoren/Hrsg.

Lossen, Ulrich

Weitere Mitwirkende

Harhoff, Ph.D., Prof. Dietmar

Fachgebiete

• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen Finanzierung, Investition, Leasing
• Wirtschaftswissenschaften Betriebswirtschaft Management Unternehmensführung
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Unternehmensfinanzierung

Inhaltsverzeichnis

Related literature and previous research.- Optimal level of diversification in private equity funds.- Construction of data set and variables.- Choice of portfolio strategies by private equity firms.- Performance of private equity funds: does diversification matter?.- Summary.

Über Autor(innen)

Dr. Ulrich Lossen promovierte bei Prof. Dietmar Harhoff, Ph.D. am Institut für Innovationsforschung, Technologiemanagement und Entrepreneurship der Universität München. Er ist Projektleiter für Unternehmensentwicklung der Leoni Kabel Holding GmbH & Co. KG, Roth.