Venture capital
Art Investing: Recession and Volatility-Related Case Studies
Nov 2nd, 2020 | Filed under: Private Equity, Newly Added, Venture capital, Other Issues in Private Investments, Frontier markets, Private Investments
By Arthena’s Art Market Research Team The effects of recessions on fine art prices are, without a doubt, the topic most-opined-about in our industry’s relatively small financial news echo chamber. Any hint of a market slowdown tends to flood our inboxes with an unyielding torrent of analysis, evidenced by theRead More
Innovation Isn’t an Accident
Sep 30th, 2020 | Filed under: Private Equity, Newly Added, Venture capital, Angel investing, Other Issues in Private Investments, Private Investments
By Sloane Ortel How does innovation happen? For many people in the investment community that answer is sort of fuzzy. We might think it just happens, which is effectively the same as believing inventions are delivered by storks when a creator and a source of capital love each other veryRead More
VCs: Looking at a Future of Digital Therapeutics
Sep 28th, 2020 | Filed under: Newly Added, Venture capital, Equity Types of Private EquityA Pitchbook report indicates that the venture capital presence in the digital therapeutics industry has increased geometrically since 2015, going from an investment of $134.3 million in that year to $1.2 billion in 2019. Further, the report suggests that digital therapeutics (DTx) is going to get bigger and more profitableRead More
Hedge Funds and Private Equity—Building Bridges—Or Not
Jul 27th, 2020 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Asset Managers, Institutional Investing, Venture capital, Asset allocation, Equity Types of Private Equity, Asset Allocation Models, The A.I. Industry, Institutional Asset Management, Hedge Funds, Private InvestmentsAlternative investment managers were evolving in the context of changing market conditions even before the Covid-19 pandemic, although the virus has speeded up the process. What is emerging is an alternatives landscape where pure-play hedge funds will be rare. That is one of the conclusions of a new study byRead More
Technology: Aiding and Abetting the Democratization of Alternative Investments
Jul 14th, 2020 | Filed under: Hedge Fund Industry Trends, Private Equity, Hedge Fund Strategies, Newly Added, Fintech, Venture capital, Technology, Artificial Intelligence, Other Issues in Private Investments, Machine Learning, Hedge Funds, Private Investments, Other Topics in A.I.A recent working paper for the European Corporate Governance Institute maintains that technology has the potential to make hedge funds and private equity more accessible to the retail investor. The paper, by Omololu Bajulaiye of Tilburg University, along with some other scholars begins with the non-controversial proposition that venture capital,Read More
FINANCIAL RETURNS IN REWARD-BASED CROWDFUNDING
Jul 5th, 2020 | Filed under: Retail Investing, Newly Added, Venture capital, Crowdfunding, Angel investing, Other Issues in Private Investments, Alternative Investments in Context, Emerging Alternative Investments, Private Investments, Other Topics in A.I.By Victoria Dobrynskaya, PhD, associate professor of Finance at National Research University Higher School of Economics Investments in reward-based crowdfunding campaigns give backers a variety of benefits, such as enjoyment in participating in a creation of a new product, being a part of a similar-minded community, altruistic pleasure of helpingRead More
Release the {virtuous} Kraken!
Jun 9th, 2020 | Filed under: Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, CAIA Alternative Viewpoints, Private InvestmentsBy Jim Bethea, CAIA, CFA: CIO of The University of Iowa Center for Advancement and John L. Bowman, CFA: SMD of CAIA Associaton The cult-like declaration has its origin in the 2010 Clash of the Titans remake. While the cast was superb and it grossed nearly $500m worldwide, it wasRead More
Major PE/VC Firms Back New Approaches to Quantum Computing
Apr 23rd, 2020 | Filed under: Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Technology, Artificial Intelligence, The A.I. Industry, Private Investments, Other Topics in A.I.In October 2019, Google announced quantum supremacy: the creation of a special-purpose computer using quantum processors that could perform a calculation impossible for a digital computer. A computer Google named Sycamore resolved in just three minutes a computational challenge that would have required a digital computer 10,000 years. Remarkable asRead More
Puzzles or LEGOs? Building a Private Equity Allocation from Scratch
Apr 5th, 2020 | Filed under: Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, CAIA Alternative Viewpoints, Private InvestmentsAaron Filbeck, CAIA, CFA, CIPM, Associate Director, Content Development at CAIA Association I live in the state of Ohio, which has effectively been on lockdown since the beginning of March. Thankfully, most of my daily activities haven’t been disrupted, save for a few. However, my wife, who is always lookingRead More
Funding a Covid ‘Long Shot’
Apr 2nd, 2020 | Filed under: Newly Added, Venture capital, CAIA Alternative Viewpoints, Other Issues in Private Investments, Structured Credit Products, Private Investments, Structured ProductsEvery venture exists to solve a problem. Since the dawn of the Covid-19 pandemic, pharmaceutical companies and investors have been scrambling to solve what has quickly become one of the biggest problems in modern history. But as the Financial Times observed earlier this month: “For most biotechs, success will beRead More
The Future is in the Hands of Private Debt Funds
Mar 23rd, 2020 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, The A.I. Industry, Private InvestmentsA new analyst report looks at what is in store for the private markets given Covid-19, an impending economic slowdown, and energy price volatility. It argues that we are entering a bear different from other bears. This bear market may be part of a transition that will increase the roleRead More
Be Direct with Me, Please!
Mar 19th, 2020 | Filed under: Private Equity, Newly Added, Institutional Investing, Venture capital, Equity Types of Private Equity, CAIA Alternative Viewpoints, High-net-worth investors, Endowments & Foundations, Family Offices, Private InvestmentsBy Aaron Filbeck, CAIA, CFA, CIPM Associate Director, Content Development at CAIA Association Original Article: “Direct Investments” by Paul Kenny, AIAR Volume 8, Issue 3 Viewpoint Author: Aaron Filbeck, CFA, CAIA, CIPM Excerpted from the Alternative Investment Analyst Review, Volume 8, Issue 3 The Alternative Investment Analyst Review is theRead More
Are there any ‘real’ ESG unicorns?
Mar 10th, 2020 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, ESG, The A.I. Industry, Private Investments, Other Topics in A.I.Unicorns (privately owned start-ups with a valuation of at least $1 billion) have long been the great sought-after beasts of the VC and PE worlds. But are they good for the planet? The unicorn boom was driven by the combination of easy credit and old-fashioned hype, combined with the wayRead More
Tech M&A Market: Demanding Sellers, Fewer Buyers
Mar 3rd, 2020 | Filed under: Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, The A.I. Industry, Private InvestmentsCorum Group, a merger and acquisitions advisor, which works with privately held technology companies, has put out its annual report, which tells us a good deal about where the action is in the tech world outside of the public markets: focusing on strategic acquirers on the one hand and privateRead More
If You Don’t Want ‘Bragging Rights’ You Can Get Alpha Done
Feb 22nd, 2020 | Filed under: Industry Size & Managers, Venture capital, The A.I. Industry, Private InvestmentsThe quarterly investor report of VCapital Management Company looks at the opportunities for attractive returns for investors regardless of the cloudy economic conditions of 2020. It argues that alpha is to be found in the Midwest, in early-stage investing, and in two industries: healthcare/biomedical and intellectual property. Though the reportRead More
Fossil Fuel: Divestment By the Numbers
Jan 16th, 2020 | Filed under: Private Equity, Social investing, Debt Types of Private Equity, Newly Added, Venture capital, Socially responsible investing, Equity Types of Private Equity, Alternative energy, Other Issues in Private Investments, The A.I. Industry, Private Investments, SRI and Clean Energy, Allocating to A.I., Finance & Economics, Other Topics in A.I.Bill Gates, the founder of Microsoft and one of the world’s wealthiest humans, attracted a good deal of attention last fall by saying, “Divestment, to date, probably has reduced about zero tons of emissions.” He thereby put his finger on a key fault line amongst those who regard ESG investmentRead More
Have Venture Capital Firms Created a Unicorn Bubble?
Nov 26th, 2019 | Filed under: Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Other Issues in Private Investments, The A.I. Industry, Private InvestmentsA theory is making the rounds, as expressed for example in a Forbes piece last month by David Trainer, that the US economy in particular (perhaps the economy of other nation states as well) is in the throes of a “unicorn bubble,” comparable to the housing derivatives bubble of aRead More
More ‘Greater Fools’ After WeWork
Nov 14th, 2019 | Filed under: Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Other Issues in Private Investments, Business News, The A.I. Industry, Private InvestmentsThe term “greater fool theory” refers to the many circumstances in which speculators buy a (potentially) productive asset, basing their buy decision not on the asset’s operational value, but on the notion that there is a “greater fool” out there who will pay even more. The term refers, then, toRead More
Washington, Don’t Bar the Door
Oct 3rd, 2019 | Filed under: Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Other Issues in Private Investments, The A.I. Industry, Private InvestmentsPitchBook’s Adam Putz recently tackled the intensifying political scrutiny of Big Tech and the harm the scrutineers may do by trying to fix something that isn’t broken—the merger and acquisitions market for digital startups. The giants in the field (Facebook, Amazon, Apple, Google and its parent, Alphabet) are associated withRead More
Spoti-sly
Sep 30th, 2019 | Filed under: Retail Investing, Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, What about beta?, Business News, Private InvestmentsBy Bill Kelly, CEO, CAIA Association How do you turn a millennial into a capitalist? Sell her SNAP in the post-IPO market. A little hindsight here shows how ridiculous this all looked. The initial sellers of the shares were the founders and their VCs (just under 30% of the offering),Read More
Climate Change and Artificial Intelligence as Investment Mega-Trends
Sep 24th, 2019 | Filed under: Private Equity, Newly Added, Alpha Strategies, Venture capital, The Global Economy & Currencies, Technology, Artificial Intelligence, Other Issues in Private Investments, The A.I. Industry, Frontier markets, Emerging Alternative Investments, Private Investments, SRI and Clean Energy, Other Topics in A.I.A report from CREATE in collaboration with BNY Mellon looks at two related megatrends in investing—climate change and artificial intelligence. It asks in each case: how is this trend perceived in terms of opportunities and risks? What are the specific investment issues involved or solutions likely to be adopted? AndRead More
Fintech: Not Such a Deal Right Now
Aug 20th, 2019 | Filed under: Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, The A.I. Industry, Private InvestmentsEquity rounds of VC-backed investment in the financial technology sector retreated in the second quarter of 2019, according to a new CB Insights report. Second-quarter fintech deals dropped 22% on a quarterly basis and 23% compared to the same quarter in 2018. Early seed deal share fell a five-quarter lowRead More
How Endowments and Foundations Look at Hedge Funds
Aug 8th, 2019 | Filed under: Hedge Fund Industry Trends, Consultants, Private Equity, Hedge Fund Strategies, Equity Hedge Funds, Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, High-net-worth investors, Endowments & Foundations, The A.I. Industry, Institutional Asset Management, Fees, Family Offices, Hedge Funds, Private InvestmentsCowen’s Capital Introduction Group has compiled information on what the endowment and foundation community is thinking about hedge funds and how best to invest in them. The Cowen paper on the subject begins with the observation, drawn from Preqin, that at present US-based E&Fs with more than $750 million inRead More
Crop Protection and Inputs Management: Growing Investments in AgTech
Jun 20th, 2019 | Filed under: Private Equity, Commodities, Agriculture, Investing in Commodities, Debt Types of Private Equity, Newly Added, Venture capital, Farmland, Equity Types of Private Equity, Natural Resources and Land, Angel investing, The A.I. Industry, Commodities, Private InvestmentsThe agricultural sector is under pressure from several directions, including depressed commodity prices, increased regulation, climate change, and changes in consumer tastes. This pressure creates a demand for technological progress, and that in turn creates a market for agtech. Two years ago, Finisterre Ventures and Pitchbook combined their data gatheringRead More
Canada’s Venture Capitalists: A Gender Gap
May 13th, 2019 | Filed under: Newly Added, Venture capital, Other Issues in Private Investments, The A.I. Industry, Private InvestmentsFemale Funders, a program within the venture capital company Highline BETA, with offices in both Canada and the United States, has produced a new Women in Venture report, which works with data gathered from more than 300 VC firms and corporate venture arms in both countries “to try to paintRead More
Who is Investing in Fintech and Why?
May 5th, 2019 | Filed under: Newly Added, Venture capital, Equity Types of Private Equity, The A.I. Industry, Private InvestmentsCB Insights, the New York-based machine intelligence platform, has just released its Global Insights Report Q1 2019. The report finds that in the first quarter of 2019, financial technology companies backed by venture capitalists closed 445 deals globally, raising $6.3 billion. The sheer number of deals, then, was up quarter-over-quarterRead More
The Effects of US VC Money for Sweden’s Startups
Apr 24th, 2019 | Filed under: Newly Added, Venture capital, Equity Types of Private Equity, The A.I. Industry, Private InvestmentsThe relationship between US venture capitalists and Swedish startup companies is the subject of a recent working paper from researchers at the University of Oxford’s Said Business School. This is a striking field of research, if only because in pop culture terms the US is often considered the haven ofRead More
ICOs Versus VC Funding for New Ventures
Apr 4th, 2019 | Filed under: Newly Added, Venture capital, Digital currencies, The A.I. Industry, Emerging Alternative Investments, Private InvestmentsYes, venture capital manager, we understand that you want a piece of that unicorn yonder. But does the unicorn want you? That is the question raised by a new paper from two scholars affiliated with New York University, Yannis Bakos and Hanna Halaburda, “Funding New Ventures with Digital Tokens.” Specifically,Read More
Venture Capital Today: Tied to a Single Misleading Narrative
Mar 27th, 2019 | Filed under: Newly Added, Venture capital, Equity Types of Private Equity, The A.I. Industry, Private InvestmentsThe March 2019 issue of Venture Capital includes a largely pessimistic article about “the evolving environment for the formation and financing of new firms.” Written by Martin Kenney and John Zysman, the article bears the title ”Unicorns, Cheshire Cats, and the New Dilemmas of Entrepreneurial Finance.” Kenney and Zysman areRead More
Women in Alternative Investments: ‘Leveraging Diverse Perspectives’
Feb 10th, 2019 | Filed under: Private Equity, Newly Added, Institutional Investing, Venture capital, The A.I. Industry, Institutional Asset Management, Hedge Funds, Private Investments“With change happening at an unprecedented pace, it is fitting that alternative investment firms are strategically focused on leveraging diverse perspectives in these disruptive times,” says KPMG Chairman and CEO Lynne Doughtie, “The Call to Act,” a new paper that looks at the roles of women in the alternative investmentRead More
Hedge Funds in Venture Capitalist Clothing
Jan 3rd, 2019 | Filed under: Hedge Fund Strategies, Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, The A.I. Industry, Hedge Funds, Private InvestmentsA new study of hedge funds that are engaged in the venture capital space, written by George O. Aragon, Emma Li, and Laura Lindsey, contends that some hedge funds quite successfully exploit their expertise in the value of the publicly owned portion of specific industries when they enter the private/ventureRead More
Agtech: Comfort Zones and Value Chains
Dec 11th, 2018 | Filed under: Real Estate, Agriculture, Investing in Commodities, Debt Types of Private Equity, Liquid and Fixed Income Real Estate, Newly Added, Venture capital, Farmland, Equity Types of Private Equity, Natural Resources and Land, Other Issues in Private Investments, The A.I. Industry, Real Estate Equity Investments, Commodities, Private Investments, Real AssetsAn agtech-focused venture firm has issued a report about global VC activity across agtech and its subsectors. The firm, Finistere Ventures, which describes itself as in the business of helping “ambitious founders transform food and agriculture,” collaborated with Pitchbook in preparing the review. Finistere looks specifically at: (a) macro trends,Read More
Jeff Diehl: The View from SuperReturn Japan 2018, Part II
Dec 6th, 2018 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Other Issues in Private Investments, Alternative Investments in Context, The A.I. Industry, Private InvestmentsOn Dec. 6, in Tokyo, Japan, the SuperReturn Japan 2018 event concluded. CAIA was a sponsor of this event, which was billed as “the world’s gateway to Japanese private equity and venture capital.” This is the second part and conclusion of our interview with Jeff Diehl, managing director at AdamsRead More
Jeff Diehl: The View from SuperReturn Japan, Part I
Dec 4th, 2018 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, The Global Economy & Currencies, Other Issues in Private Investments, Economics, The A.I. Industry, Frontier markets, Macroeconomics, Private Investments, Finance & EconomicsOn Wednesday, December 5, in Tokyo, Japan, the SuperReturn Japan 2018 event convenes. CAIA is a sponsor of this event. Jeff Diehl, managing partner at Adams Street Partners, a multi-national investment manager with more than $35 billion in assets under management, is attending. He will participate in a panel WednesdayRead More
EYES ON THE ALTERNATIVE INVESTMENT PRIZE: 4 THEMES FOR 2019
Nov 28th, 2018 | Filed under: Hedge Fund Industry Trends, Private Equity, Newly Added, Venture capital, Hedge FundsBy Diane Harrison We’ve reached that time of the year again, when prognosticators are producing all manner of publications centering on how the 2019 investment landscape will likely take shape. Robeco issued a white paper in October, ‘Turbulence Ahead: Investment Outlook 2019,’ in which they state ‘…next year we expectRead More
Digitization of alternative investments: the rise of technology
Nov 20th, 2018 | Filed under: Private Equity, Newly Added, Venture capital, Technology, Operations, Other Issues in Private Investments, The A.I. Industry, Hedge Funds, Private Investments, Risk Management & OperationsKPMG, the auditing giant based in the Netherlands, has put out a white paper on the “digitization mandate” in the alternative investment space. It maintains that fund managers who “dawdle” in digitizing their business are acting foolishly, falling behind the expectations of their actual and potential investors. Consider fees. PreqinRead More
Women-owned Businesses: Over a Threshold
Oct 2nd, 2018 | Filed under: Private Equity, Newly Added, Venture capital, Angel investing, The A.I. Industry, Private InvestmentsIn a new report on the condition of women-owned businesses, part of an annual ongoing examination of business trends by American Express, researchers first take a big picture view (1972 to the present) and then do a swoop-down into the details of 2018. The conclusion of the study isRead More
Pitchbook 2018 Report: Where are the unicorns?
Sep 4th, 2018 | Filed under: Private Equity, Industry Size & Managers, Debt Types of Private Equity, Newly Added, Venture capital, Angel investing, Other Issues in Private Investments, The A.I. Industry, Private InvestmentsPitchBook has posted its 2018 VC Unicorn Report. The introduction explains the meaning of the term. (It has only been in use in its financial sense since 2013, so explanations may still be deemed necessary.) “Unicorn” refers to an entity upon which the private investment markets have bestowed a valuationRead More
HBS looks at 40 years of private equity performance
Sep 3rd, 2018 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Other Issues in Private Investments, The A.I. Industry, Private InvestmentsIn a new study by Harvard Business School scholars looks into the performance of LPs invested with private equity over four decades. In the paper, Investing Outside the Box, the scholars found that it is generally better to invest inside the box. Specifically, they found that the performance of alternativeRead More
Illuminating Gender Differences in Entrepreneurship
Aug 16th, 2018 | Filed under: Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Angel investing, Other Issues in Private Investments, The A.I. Industry, Private InvestmentsIlluminate Ventures, an early-stage high-tech VC firm, has posted a paper by its founder and managing partner, Cindy Padnos, on “gender differences in entrepreneurship.” The paper begins with the observation that nearly half of the Illuminate portfolio companies have a woman as a co-founder. This doesn’t mean of course thatRead More
Agtech Investment and the Future of Food
Aug 14th, 2018 | Filed under: Private Equity, Agriculture, Newly Added, Venture capital, Farmland, Equity Types of Private Equity, Natural Resources and Land, Angel investing, The A.I. Industry, Private Investments, Real AssetsFinistere Ventures, a venture capital firm that describes itself as in the business of helping “ambitious founders transform food and agriculture,” has teamed up with Pitchbook to produce a dataset that would enable “clear insights into financing activity and metrics in the agtech sector.” The result was the Agtech InvestmentRead More
Thoughts in Advance of the Chicago AAAIM Event
Jul 24th, 2018 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Angel investing, Private InvestmentsThe Association of Asian American Investment Managers holds its Chicago Regional event on Thursday, July 26 at the offices of law firm Sidley Austin LLP, One South Dearborn, beginning at 3 and continuing until 7. AAAIM confidently proclaims that its line-up of panelists is a collection of “rock stars.” AmongRead More
The Problem With Unicorns
Jul 17th, 2018 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Other Issues in Private Investments, Private InvestmentsA new book by the Wall Street Journal’s John Carreyrou, Bad Blood: Secrets and Lies in a Silicon Valley Startup, works as a compelling test case in how the hunger for the next “unicorn,” a hunger that has been a feature in alternative investing for years now, can go badlyRead More
The VC and PE Markets in Canada
Apr 1st, 2018 | Filed under: Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Private InvestmentsThe Canadian Venture Capital and Private Equity Association (CVCA) has posted what it calls an “overview” of the VC and PE Markets in that country in 2017. It reports growth in both of those markets, although growth at distinct velocities. The report tells us that, on the VC side, CanadaRead More
PE and VC Opportunities in 21st Century India
Feb 13th, 2018 | Filed under: Private Equity, Currencies, Newly Added, Venture capital, Equity Types of Private Equity, The Global Economy & Currencies, Private Investments, Finance & EconomicsARA Law, a firm based in Mumbai and Bangalore, India, has issued a paper on private equity and venture capital in that country. In a foreword, firm founder Rajesh N. Begur observes that there is a positive dynamic now at work in India’s economy, one that in his view “canRead More
Ceres Report Evaluates Value of Early-Stage Clean Energy
Feb 4th, 2018 | Filed under: Private Equity, Newly Added, Venture capital, Socially responsible investing, Alternative energy, Other Issues in Private Investments, Commodities: Examples, Energy, Emerging Alternative Investments, Private Investments, SRI and Clean Energy, Other Topics in A.I.A recent publication from Ceres, a nonprofit organization devoted to promoting sustainability as a goal in both investing and corporate governance, looks at the value that early-stage clean energy products offer venture capitalists. The publication is the work of a team of five “lead authors and key contributors,” including threeRead More
Venture Capital Top 100 List(s): GP and LP
Jun 18th, 2017 | Filed under: Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Private InvestmentsPreqin has named its top 100 Venture Capital firms, ordered by the amount of capital each firm has raised in the last 10 years. The top 10, with their headquarters city, are as follows: Tiger Global Management, New York New Enterprise Associates, Menlo Park Sequoia Capital, Menlo Park DST Global,Read More
New Zealand PE and VC Activity on the rise
Jun 6th, 2017 | Filed under: Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Private InvestmentsAn increase in total buy-out investments proved a big factor in the growth through 2016 of the private equity and venture capital market in New Zealand. A new report looks at this growth and concludes that fund-raising activity there has reached a milestone, hitting again a levels not seen sinceRead More
Staying Private: A Contrary Push or a Weakening Pull?
Mar 12th, 2017 | Filed under: Private Equity, Newly Added, Venture capital, Private InvestmentsThe number of public companies listed on U.S. exchanges peaked in 1996. Due to mergers on the one hand and de-listings on the other, factors far offsetting new initial public offerings, this number has fallen drastically since then, to less than half of peak. Part of the reason for thisRead More
Funds of Funds and the Task of Financial Intermediation
Jan 12th, 2017 | Filed under: CAPM / Alpha Theory, Financial Economics Theory, Newly Added, Venture capital, Private Investments, Finance & EconomicsAre funds of funds a valuable form of intermediation? Robert Harris, of the University of Virginia, Darden School of Business, and three other distinguished scholars looked at this question in a Darden Business School Working Paper, and they decided that, at least with regard specifically to the role of FOFsRead More