The Performance of Private Equity Funds:Does Diversification Matter?

This paper is the first systematic analysis of the impact of diversificationon the performance of private equity funds. A unique data set allows theexact evaluation of diversification across the dimensions financing stages,industries, and countries. Very different levels of diversification can be observedacross sample funds. While some funds are highly specialized othersare highly diversified.[...]

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Year of publication:	2006-06-01
Authors:	Lossen, Ulrich
Institutions:	Universität <München> / Fakultät für Betriebswirtschaft
Subject:	Leistung \| Portfoliomanagement \| portfolio management \| Diversifikation \| Diversification gains \| Spezialisierung \| Beteiligungskapital \| corporate and private equity investors

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1 Introduction
2 Related literature on private equity
3 Theoretical aspects and hypotheses
4 Data and variables
4.1 Construction of data set
4.2 Discussion of selection bias
4.3 Description of variables
5 Descriptive statistics
6 Diversification and performance of private equityfunds
6.1 Methodology
6.2 The impact of diversification on private equity funds’rates of return
6.3 The impact of diversification on private equity funds’percentages of loss Additional Robustness Checks
8 Conclusion
References
A Appendix

Persistent link: https://www.econbiz.de/10005869357