Can investors time their exposure to private equity?
Abstract
Private equity performance, both for buyouts and venture capital, has been highly cyclical: periods of high fundraising have been followed by periods of low performance. Despite this seemingly predictable variation, we find modest gains, at best, to pursuing realistic, investable strategies that time capital commitments to private equity. This occurs, in part, because investors can only time their commitments to funds; they cannot time when...
Paper Details
Title
Can investors time their exposure to private equity?
Published Date
Feb 1, 2021
Volume
139
Issue
2
Pages
561 - 577
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