Global Private Equity Performance Series
In most of modern finance, things tend to matter only if they can be measured precisely and frequently. By contrast, …
Oct 01, 2019
To contribute to the ongoing debate about private markets “illiquidity premium”, this paper proposes a new approach to liquidity as a dimension of private equity investing, along with risk and return. Along those lines, the liquidity risk associated with private equity lies in the variation of holding periods over time. To assess this risk, an equivalent to holding periods can be approached by calculating an average time-to-liquidity, which is a function of multiples and IRRs. Thanks to the high quality of the data provided by eFront Insight, it is possible to evaluate the average time-exposure of investors and estimate the variations around this average.
Global Private Equity Performance Series
In most of modern finance, things tend to matter only if they can be measured precisely and frequently. By contrast, …
Oct 01, 2019
AI²: Alternative Investments Meet Artificial Intelligence
The profitability and investment potential into AI is not a contentious topic. But to what extent could AI disrupt and …
Sep 26, 2019
Private vs. public:
co-movements are stronger than you think
The quarterly movements of multiples of US LBO funds and major US stock indexes appear to be significantly positively correlated, …
Sep 20, 2019