The Evolving Structure of the Private Equity and Venture Capital Industry

Title:

The Evolving Structure of the Private Equity and Venture Capital Industry

GSB Authors:

Mark Wolfson

All Authors:

Wolfson, Mark A.

Date:

2013-09-01

Abstract:

The article discusses how private equity and venture capital industries are gradually developing since 1970. It states that endowment model increased the returns to alternative assets but the standard model lacked liquidity budgeting which is a lesson of economic crisis. It also mentions portfolio management and alternative model of assets allocation.

Publication:

Journal of Investment Management

Volume:

11

Issue:

4

Collection:

Faculty Publications

Keywords:

carried interest legislation

direct co-investments

endowment model

equilibrium analysis

fee and carry schedules

liquidity budgeting

liquidity clienteles

liquidity premium

partnership structures

portfolio construction

risk clienteles

tax clienteles

Publication URL:

https://joim.com/article/the-evolving-structure-of-the-private-equity-and-venture-capital-industry/

Academic Area:

Accounting

Publication Type:

Articles