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- Title
Venture Capital and Buyout Funds as Alternative Equity Investment Classes.
- Authors
Xiaoqing Eleanor Xu
- Abstract
The article studies the risk and return performance of venture capital and buyout funds as alternative equity investment classes. The private equity market has for the past two decades been an increasingly important source of capital and early-stage new ventures, later-stage private companies, and firms seeking buyout finances. The empirical results indicate that pooled venture capital returns and buyout fund returns are 2.5% and 2.8% (on a quarterly basis) higher than equity market-risk adjusted expected returns. Buyout returns are however , are not significantly related to these three systematic risk factors.
- Subjects
VENTURE capital; EQUITY participations; BUYOUTS; PRIVATE companies; NEW business enterprises; INVESTMENTS
- Publication
Journal of Investing, 2004, Vol 13, Issue 4, p74
- ISSN
1068-0896
- Publication type
Article
- DOI
10.3905/joi.2004.450759