Are LPs Funds of Funds? Relationship Building in the Private Equity Industry

2014 ◽  
Author(s):  
Massimo Massa ◽  
Zhang Hong ◽  
Xiaolan Zhou
Keyword(s):  
Private Equity ◽  
Relationship Building ◽  
Funds Of Funds

scholarly journals Financial Intermediation in Private Equity: How Well Do Funds of Funds Perform?

2017 ◽  
Author(s):  
Robert Harris ◽  
Tim Jenkinson ◽  
Steven Kaplan ◽  
Ruediger Stucke
Keyword(s):  
Private Equity ◽  
Financial Intermediation ◽  
Funds Of Funds

Building and maintaining the family business-private equity relationship

2018 ◽  
Vol 25 (1) ◽  
pp. 41-63
Author(s):  
Vincent Molly ◽  
Diane Arijs ◽  
Johan Lambrecht
Keyword(s):  
Private Equity ◽  
Large Scale ◽  
Relationship Building ◽  
Added Value ◽  
Content Type ◽  
Building Process ◽  
Template Analysis ◽  
Empathy Gap ◽  
The Relationship ◽  
Depth Interviews

Purpose Adopting an integrated agency and stewardship perspective, the purpose of this paper is to understand the relationship between family businesses (FBs) and private equity (PE) investors at three stages: entry, cooperation, and exit. Design/methodology/approach This qualitative study combines the perspectives of 11 FB owners and/or managers, seven PE investors, and four intermediaries. The in-depth interviews of this purposive sample are analysed at the intra- and inter-case level using a template analysis approach up to reaching theoretical saturation. Findings Building and maintaining an effective relationship between the FB and the PE investor requires both a stewardship perspective (i.e. reciprocal principal-steward behaviour) and a necessary but insufficient agency perspective (i.e. principal-principal behaviour). Research limitations/implications More large-scale studies with an integrated agency-stewardship perspective on FBs using PE can increase the external validity of the insights from this research to build and maintain an effective relationship between both parties. Practical implications Providing insights into the relationship building process and best practices, this study helps reduce the knowledge and empathy gap that exists between FBs and PE. Originality/value The results clarify the need to reconcile an agency and stewardship perspective to thoroughly understand the relationship and behaviour of FBs and PE investors, and to help the parties understand and benefit from each other’s added value.

scholarly journals Financial Intermediation in Private Equity: How Well Do Funds of Funds Perform?

2015 ◽  
Author(s):  
Robert S. Harris ◽  
Tim Jenkinson ◽  
Steven N. Kaplan ◽  
RRdiger Stucke
Keyword(s):  
Private Equity ◽  
Financial Intermediation ◽  
Funds Of Funds

scholarly journals Financial intermediation in private equity: How well do funds of funds perform?

2018 ◽  
Vol 129 (2) ◽  
pp. 287-305 ◽  
Author(s):  
Robert S. Harris ◽  
Tim Jenkinson ◽  
Steven N. Kaplan ◽  
Ruediger Stucke
Keyword(s):  
Private Equity ◽  
Financial Intermediation ◽  
Funds Of Funds

The Risk Profile of Private Equity Funds of Funds

2005 ◽  
Vol 7 (4) ◽  
pp. 33-41 ◽  
Author(s):  
Tom Weidig ◽  
Andreas Kemmerer ◽  
Björn Born
Keyword(s):  
Private Equity ◽  
Risk Profile ◽  
Equity Funds ◽  
Private Equity Funds ◽  
Funds Of Funds
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