“Properly selected investments in leveraged buyouts and venture capital generate high returns relative to other equity alternatives, enhancing overall portfolio results.” This is expressed by one of the most successful portfolio managers in recent years, Swensen (2009: 220).
The process of find the proper investments and understanding the private equity asset class has proved to be difficult though. It is this complexity that has motivated me to study it in more detail throughout my thesis.
In this introductory part I will start by elaborating on the motivation I have for choosing this topic, before I discuss the limitations of this dissertation; to make it clearer what the actual focus is. Then at last I will go through the various parts of thesis to make it more comprehensible to see how I have tried to answer the problems I want to in this research paper.
Contents
Executive Summary
Table of Contents
Table of Figures
Foreword
1 Introduction
- 1.1 Motivation for Choice of Topic
1.2 Limitations
1.3 Structure of the Thesis
2 Private Equity
- 2.1 Fund Structure
2.2 Returns and Valuation
2.3 Private Equity in the Nordic Region
3 Modern Portfolio Theory
4 Private Equity in Optimal Portfolios
- 4.1 Modern Portfolio Theory with Private Equity
4.2 Difficulties Using Standard Theories in the Case of Private Equity
5 Optimal Allocation for Nordic Investors
- 5.1 Data
5.2 Methodology
5.3 Results
6 Survey
- 6.1 Insight and Methodology
6.2 Creating and Conducting the Survey
6.3 Results
7 Conclusions
- 7.1 Final Conclusions
7.2 Suggestions for Future Studies
Reference List
- Websites
Appendices
- Appendix A
Appendix B
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