Details

Autor(en) / Beteiligte

• Mathonet, Pierre-Yves
• Meyer, Thomas,

Titel

J-curve exposure : managing a portfolio of venture capital and private equity funds [electronic resource]

Link zum Volltext

• Wiley Online Library - AutoHoldings Books

Beschreibungen/Notizen

• Description based upon print version of record.
• Includes bibliographical references and index.
• J Curve Exposure; Contents; List of Boxes; Foreword; Acknowledgments; Abbreviations; Disclaimer; PART I PRIVATE EQUITY LANDSCAPE; 1 Introduction; 1.1 Barbarians, pirates and privateers; 1.2 A difficult world to conquer; 1.2.1 Get rich quick?; 1.2.2 Chartering a course; 1.2.3 Storms and barrier-reefs; 1.2.4 Drawing a map; 1.2.5 Setting out ships and navigating the oceans; 1.2.6 Staying on course and moving into calmer waters; 2 Institutional Investing in Private Equity; 2.1 Limited partnership; 2.2 Funds-of-funds; 2.2.1 Additional layer of management fees
• 2.2.2 Jumpstarting the allocation to private equity2.2.3 Diversification and scaling of investments; 2.2.4 Access to top teams; 2.3 Private equity funds investment program; 3 Private Equity Environment; 3.1 The informal VC market; 3.1.1 Business angels; 3.1.2 Business incubators; 3.2 Private equity as part of alternative assets; 3.2.1 Comparison of private equity with hedge funds; 3.2.2 Encroachment and convergence; 3.2.3 Distressed assets; 3.3 Mezzanine financing; 3.4 Overlap with public market; 3.5 Conclusion; 4 Risk Management Lessons from a Listed Private Equity Fund-of-Funds
• 4.1 Relevance of the Private Equity Holding case4.2 The Swiss private equity funds-of-funds industry; 4.2.1 The market for publicly quoted private equity funds-of-funds; 4.2.2 Importance for investors; 4.2.3 Growing opportunities; 4.3 Commitments and investments; 4.3.1 Importance of over-commitments; 4.3.2 Best practices; 4.3.3 Over-commitments and risks; 4.4 The rise and (near) fall of Private Equity Holding; 4.4.1 Opportunities and growth; 4.4.2 The 'new economy'; 4.4.3 Clouds gathering; 4.4.4 Iceberg ahead; 4.5 Definition and analysis of ratios
• 4.5.1 Comparison of Private Equity Holding and Castle Private Equity4.5.2 Other factors; 4.6 Lessons and epilogue; Appendix 4A Adjusted current ratio methodology; Part II The Economics of Private Equity Funds; 5 Venture Capital Fund Fair Value; 5.1 Valuation Guidelines; 5.2 Motivation; 5.3 Current practices; 5.4 Problem areas; 5.4.1 The negative impact of the J Curve; 5.4.2 The high workload associated with valuation reviews; 5.4.3 Entry barriers for new investors in venture capital; 5.4.4 Current valuation techniques do not capture risk; 5.4.5 The J Curve creates a false sense of security
• 5.4.6 Models can be abused5.5 Conceptual questions; 5.6 Can one do without judgment?; 5.7 Is there a pragmatic way forward?; 5.7.1 Differentiate between young and mature VC funds; 5.7.2 Accept different standards for reliability; 5.7.3 Assure reliability through valuation process reviews; 6 Model-Based Approach to VC Fund Valuation; 6.1 Why model?; 6.1.1 Modeling simplification; 6.1.2 Model limitations; 6.2 The private equity data market; 6.2.1 Players in the private equity data market; 6.2.2 Data providers; 6.2.3 Data service providers; 6.2.4 Users of data; 6.2.5 Quality of data
• 6.2.6 The economics of the VC data market
• Building on the success of the author's previous book Beyond the J Curve:Managing a Portfolio of Venture Capital and Private Equity Funds, this work covers new and additional material and offers advanced guidance on the practical questions faced by institutions when setting up and managing a successful private equity investment programme. Written from the practitioner's viewpoint, the book offers private equity and venture capital professionals an advanced guide that will make high return targets more realistic and sustainable. Factors that can sometimes cause institutions to s
• English