Private Equity in Emerging Markets: Yesterday, Today, and Tomorrow

Autor:	Andrew Speen, Josh Lerner, Ann Leamon, Jake Ledbetter, Chris Allen
Rok vydání:	2016
Předmět:	Economics and Econometrics 050208 finance business.industry 05 social sciences Yesterday Investment management Limited partnership Private equity Consistency (negotiation) Market economy Commerce 0502 economics and business Business Emerging markets 050203 business & management Finance
Zdroj:	The Journal of Private Equity. 19:8-20
ISSN:	2168-8508 1096-5572
DOI:	10.3905/jpe.2016.19.3.008
Popis:	This article examines quantitative data on economic growth, market composition, deal structures, exit opportunities, and manager performance in emerging markets relative to developed markets. We find that despite recent downturns, emerging markets are experiencing overall rapid growth. Moreover, private equity investments appear to focus on companies in high-growth sectors that are underrepresented in public markets, thereby allowing limited partners more balanced exposure to a country’s economic drivers. Furthermore, we find that minority investments in private companies tend to perform on par with majority positions. Finally, because fund manager performance varies widely but also exhibits some consistency, our findings stress the importance of manager selection.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::102e7cf0b65072c230410e74e22c9456 https://doi.org/10.3905/jpe.2016.19.3.008 Zobrazit plný text záznamu