International Investments in Private Equity: Asset Allocation, Markets, and Industry Structure
- 7h
- Peter Cornelius
- Elsevier Science and Technology Books, Inc.
- 2011
How can private equity investors exploit investment opportunities in foreign markets? Peter Cornelius uses a proprietary database to investigate and describe private equity markets worldwide, revealing their levels of integration, their risks, and the ways that investors can mitigate those risks. In three major sections that concentrate on the risk and return profile of private equity, the growth dynamics of discrete markets and geographies, and opportunities for private equity investments, he offers hard-to-find analyses that fill knowledge gaps about foreign markets. Observing that despite the progressive dismantling of barriers investors are still home-biased, he demonstrates that a methodical approach to understanding foreign private equity markets can take advantage of the macroeconomic and structural factors that drive supply and demand dynamics in individual markets.
- Foreword by Josh Lerner
- Teaches readers how to investigate and analyze foreign private equity markets
- Forecasts private equity investment opportunities via macroeconomic and structural factors in individual markets
- Draws on data from a proprietary database covering 250 buyout and VC funds and 7,000 portfolio companies.
About the Author
Peter Cornelius is heading economic and strategic research at AlpInvest Partners, one of the world's largest investors in private equity. Prior to his current position, he was the group chief economist of Royal Dutch Shell, chief economist and director of the World Economic Forum's Global Competitiveness Program, head of International Economic Research of Deutsche Bank, and a senior economist with the International Monetary Fund. Dr. Cornelius is the chairman of the European Venture Capital & Private Equity Association's working group on private equity risk management. A visiting professor at the Vlerick Leuven Gent Management School, he has been a visiting scholar at Harvard University and an adjunct professor at Brandeis University.
In this Book
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Foreword
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List of Abbreviations
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Introduction
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Organization, Value Creation, and Performance
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Global Benchmarks
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Private Equity in Diversified Investment Portfolios
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Designing Private Equity Programs in Open Markets
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Global Markets, Regional Penetration, and Country Risk
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Private Equity Funds and Cross-Border Acquisitions
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Cross-Border Fund Commitments, Due Diligence, and the Allocation Matrix
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Regional Integration—The Case of Europe
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Fund Investments and Currency Movements
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What's Next? Private Equity in the Era of Deleveraging
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Chasing Deals Globally—Expansion Strategies and Risk Management of Leading Private Equity Firms
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References
