As the world emerges from one of the biggest ?nancial crises in history, the list of causative factors for the global bubble that preceded it becomes clear. A lack of transparency in the investment markets, a rush to illiquid assets and a glori?cation of aggressive investment strategies are some of those factors. If we can learn anything from the crisis, it de?nitely includes that many of the largest and most important investors knew too little about how to deal with investments outside the classic, public stock markets. Indeed, investments in illiquid Private Equity (PE) and Venture Capital (VC) funds have played a signi?cant role in many seemingly low-risk, high-return investment strategies, even though investors in these funds had few guidelines from academics or regulators on how to treat this asset class. This is unfortunate, not only because these funds play a crucial role in the ?nancing of non-public companies – e.g. the essential ?nancing of many in- vative start-up ?rms or the capital investments in so many non-public medi- sized companies. The lack of analysis is also regrettable, since economically important investors, e.g. pension funds or insurances, seek to diversify their investments. But only few studies have empirically analyzed how investors choose and invest in PE and VC funds. Daniel Hobohm helps to ?ll this - search gap with his doctoral thesis.

Keywords

About the author

Dr. Daniel Hobohm obtained his doctorate at the Institute for Innovation Research, Technology Management and Entrepreneurship (Ludwig-Maximilians-Universität Munich) under the supervision of Prof. Dietmar Harhoff, Ph.D. He works in the alternative investment industry.

Bibliographic Information

Book Title: Investors in Private Equity Funds
Book Subtitle: Theory, Preferences and Performances
Authors: Daniel Hobohm
DOI: https://doi.org/10.1007/978-3-8349-8726-6
Publisher: Gabler Verlag Wiesbaden
eBook Packages: Business and Economics, Economics and Finance (R0)
Copyright Information: Gabler Verlag | Springer Fachmedien Wiesbaden GmbH, Wiesbaden 2010
Softcover ISBN: 978-3-8349-2183-3Published: 14 January 2010
eBook ISBN: 978-3-8349-8726-6Published: 03 July 2010
Edition Number: 1
Number of Pages: XVIII, 199
Number of Illustrations: 19 b/w illustrations
Topics: Public Economics, Finance, general

Publish with us

Policies and ethics

Authors:

Sections

Buy it now

Buying options

Other ways to access

Table of contents (7 chapters)

Front Matter

Introduction

Theory of Fund Investments

Limited Partners

Data

LP Investment Preferences

LP Investment Performance

Conclusion

Back Matter

About this book