Do Private Equity Fund Managers Earn Their Fees? Compensation, Ownership, and Cash Flow Performance

By Richard D. Long. 2014

153 citations recorded by the source corpus.

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Giants at the Gate: Investment Returns and Diseconomies of Scale in Private Equity (2015, unknown): “The results for U.S. funds mimic those in Kaplan and Schoar (2005) and Robinson and Sensoy (2013).”
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).”
What Do Private Equity Firms Say They Do (2016, unknown): “At the private equity fund level, Harris, Jenkinson and Kaplan (2014), Higson and Stucke (2013), Robinson and Sensoy (2013) and Ang et al. (2013) all find that private equity funds have outperformed public equity markets net of fees over the last three decades.”
Private equity investment criteria: An experimental conjoint analysis of venture capital, business angels, and family offices (2019, background): “PE investments are associated with improvements in operating performance (Kaplan and Strömberg, 2009) and oftentimes outperform investments in public equity markets (e.g., Ang et al., 2018; Braun et al., 2017; Harris et al., 2014; Kaplan and Schoar, 2005; Kaplan and Sensoy, 2015; Phalippou and Gotts”