The Asymmetric Prospects of Maximal and Minimal Extremes: Evidence from Capital Raising in the U.S. Private Equity Market

With Private Funds having a new type of license for asset allocation practice in China, comprehensive asset allocation cross private equity and stock market has received more attention. However, most of the studies focus more on the stock market, and asset allocation models for private equity market that are mainly made based on experience. Thus, the joint allocation of assets crosses both markets making it a challenging research topic. This paper introduces the Black–Litterman model into the private equity market, realizing the transition from qualitative models to quantitative models. It lays a solid quantitative ground for the mixed asset allocation model in both the markets.

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Economic news and equity market linkages between the U.S. and U.K.

Journal of Banking & Finance ◽

10.1016/0378-4266(94)00079-i ◽

1995 ◽

Vol 19 (7) ◽

pp. 1191-1210 ◽

Cited By ~ 82

Author(s):

Kent G. Becker ◽

Joseph E. Finnerty ◽

Joseph Friedman

Keyword(s):

Equity Market ◽

Economic News ◽

Market Linkages ◽

The U.S

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The Private Equity Market

Private Equity Demystified ◽

10.1093/oso/9780198866961.003.0001 ◽

2020 ◽

pp. 1-39

Author(s):

John Gilligan ◽

Mike Wright

Keyword(s):

Private Equity ◽

Early Stage ◽

Equity Market ◽

Capital Investments ◽

Risk Capital ◽

Equity Fund ◽

Public Markets ◽

Private Equity Fund ◽

Fund Managers ◽

Equity Funds

This chapter defines private equity, describes the origins of the private equity market, and examines the data on the size and growth of the private equity industry. Private equity is risk capital provided outside the public markets. The businesses invested in by private equity range from early stage ventures, usually termed venture capital investments, through businesses requiring growth or development capital to the purchase of an established business in a management buyout or buy-in. Much, but not all, of the investing done in the private equity market is by private equity funds. The objective of a private equity fund is to invest equity or risk capital in a portfolio of private companies which are identified and researched by the private equity fund managers. The chapter then considers what private equity fund managers do. It also provides a brief history of private equity before assessing how big the private equity market is.

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