The Returns of Private Equity - Skills or Pure Luck?

摘要: This thesis investigates if, and in that case to what extent, the fund manager’s skills affect return of private equity funds. A regression analysis based on performance data public is undertaken used determine value added through provided by managers. The results indicate do fact returns with up 10% annually. In addition, show venture capital funds are more closely linked stock market, whereas buyout affected skills. An important practical implication arising from this study suggestion practitioners take into account when evaluating prospects various By doing so, investors can easily distinguish between winning losing contributes a greater understanding drives returns, but also tries fill knowledge gap how play driving role.