Does size matter? In US LBO, yes.
This issue of FrontLine makes a comparison of return profiles and cash flow schedules of different types of LBO funds …
May 22, 2019
A detailed analysis of venture capital funds globally shows that Chinese funds of vintage years 1997-2018 have delivered returns of 1.79x (total value to paid-in), comparing favourably with US funds on 1.70x and and Western European vehicles on 1.75x.
In addition, the research shows that Chinese funds take longer to reach maturity and have demonstrated longer hold periods for investments. In terms of time to liquidity, Chinese funds average close to 5.5 years, while US and Western European funds have a time to liquidity of under 5 years. The same is true for the global average.
Multiple of venture capital funds, by region
