London Business School Coller Institute of Private Equity

By Ljungqvist A, Richardson M
Working Papers

Date Released: 09/01/2003
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Using a unique dataset of private equity funds over the last two decades, this paper analyzes the cash flow, return, and risk characteristics of private equity. Unlike previous studies, we have detailed cash flow data for each fund, rather than aggregate or accounting returns. We also know the exact timing of investments and capital returns to investors and the number and types of companies each fund invested in.