The most popular private equity research from last year
The Savvy Research team has curated this list of the most popular private equity white papers from 2016. They provide interesting insights into different aspects of global private equity, such as private equity secondaries, private debt, risk, industry trends, value creation, and more.
Global Private Equity Report 2016 (Bain & Company)
In this 64-page report, the authors examine the state of the private equity industry over the last year, and their expectations for the next ten.
Private Debt: The opportunity for diversification with illiquid assets (TIAA, Sep 2016)
Amid market uncertainty and record-low interest rates, private debt addresses institutional investors’ desire for yield and lower volatility. This paper discusses the opportunity for illiquid asset diversification.
Introductory Guide to Investing in Private Equity Secondaries (Capital Dynamics, 2016)
The authors of this paper take the view that private equity secondaries present a fantastic risk-adjusted return profile, providing attractive long-term returns while still displaying defensive attributes.
Should DC Plan Sponsors Add Private Equity to Target-Date Funds? (Pantheon, 2017)
This 20-page paper by Pantheon explores how the inclusion of private equity in custom Target-Date Funds (TDFs) affects the return profile of TDFs.
Assessing Risk of Private Equity - What's the Proxy? (2016)
This paper seeks to evaluate alternative methods to proxy PE investments in the context of portfolio allocation. It begins with a PE overview (focusing on buyout fund mainly) then analyzes the issues associated with PE risk assessment.
2016 EY Global Private Equity Fund and Investor Survey
This 35-page report by EY provides valuable insights into the global private equity fund industry. Over 100 finance execs and over 80 investors discuss some of the opportunities and challenges ahead.
Asset Allocation with Private Equity (Mark Anson, 2016)
Private assets lack liquidity which means that it is difficult to model their return streams in a risk budget or asset allocation model. The authors of this paper seeks to correct the misspecification of these, and other, illiquid assets.
Is private equity really illiquid? Self-liquidation of private equity portfolios (2016)
This paper by Capital Dynamics examines the illiquidity of the private equity asset class. Unlike other illiquid asset classes, PE investors cannot sell their funds when faced with losses because it is a distributing asset.
Are Lower Private Equity Returns the New Normal? (CEPR, 2016)
U.S. PE fundraising had its best year ever in 2015 — raising $185 billion. But is the enthusiasm of investors warranted? This report explores further.
Value Creation 2.0: A Framework for Measuring Value Creation in Private Equity Investment (INSEAD, 2016)
This report discusses the standard framework used by PE practitioners to measure Value Creation sources. Among other things, the authors review individual drivers of value identified in academic literature.
Guide to Private Equity and Venture Capital for Pension Funds (Invest Europe, 2016)
This guide contains helpful information (both the benefits and the risks) for pension funds on how and why to invest in venture capital and private equity.
Private Equity Institutional Investor Trends - 2016 Survey (Probitas Partners)
This survey is designed to track emerging trends within the private equity industry, and to compare investors' changing views over a longer period of time.