The Economics of Private Equity Funds

By Andrew Metrick, A. Yasuda. 2010

580 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/b7a4f40a79e424414a5b39f49cb9f4b90dc9d397

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Citations in the corpus

Private equity investment criteria: An experimental conjoint analysis of venture capital, business angels, and family offices (2019, result): “This is in line with prior research, which frequently highlights LBOs as an important asset class being substantially larger than other types of PE investors (Kaplan and Schoar, 2005; Metrick and Yasuda, 2010).”
A New Method to Estimate Risk and Return of Nontraded Assets from Cash Flows: The Case of Private Equity Funds (2012, unknown): “We assume a standard fee structure consisting of a 2% management fee (on committed capital), 20% carry with an 8% hurdle rate (Metrick and Yasuda (2010)).”
The Private Equity Advantage: Leveraged Buyout Firms and Relationship Banking (2011, unknown): “22 As Metrick and Yasuda (2007) observe, unlike the venture capital industry, leveraged buyouts are scalable.”
Squaring venture capital valuations with reality (2020, unknown): “Metrick and Yasuda (2010a) use the same set of assumptions to model VC investment cash flows.”
Interim Fund Performance and Fundraising in Private Equity (2017, unknown): “contrast, the impact of interim performance on fund size is not reliably different for the two subsamples, perhaps because VC funds do not enjoy the same economies of scale as buyout funds (Metrick and Yasuda (2010a)).”
The role of venture capital in the emerging entrepreneurial finance ecosystem: future threats and opportunities (2019, background): “…investments and investment decisions and, even to cases of misevaluation and overfunding of the portfolio companies during the fund’s holding period (Gompers and Lerner 2001; Metrick and Yasuda 2010; Chung et al. 2012; Wang and Zhang 2012; Robinson and Sensoy 2013; Sensoy, Wang, and Weisbach 2014).”
Risk-Adjusting the Returns to Venture Capital (2015, unknown): “Assume a fund with a standard fee structure of 20% carried interest and 2% per year management fees (Metrick and Yasuda (2010)).”
The Globalization of Angel Investments: Evidence across Countries (2015, unknown): “…invest their own money, they should be less prone to agency problems that have been documented for VC funds: for instance, feebased compensation structures can lead to excessive fundraising (Metrick and Yasuda, 2010; Chung, et al., 2012) or sub-optimal investment and exit decisions (Gompers, 1996).”
Venture Capital and Other Private Equity: A Survey (2011, unknown): “See the discussion of (Sorensen 2007) below.”