International Investments in Private Equity: Asset Allocation, Markets, and Industry Structure

How can private equity investors exploit investment opportunities in foreign markets?  Peter Cornelius uses a proprietary database to investigate and describe private equity markets worldwide, revealing their levels of integration, their risks, and the ways that investors can mitigate those risks.  In three major sections that concentrate on the risk and return profile of private equity, the growth dynamics of discrete markets and geographies, and opportunities for private equity investments, he offers hard-to-find analyses that fill knowledge gaps about foreign markets.  Observing that despite the progressive dismantling of barriers investors are still home-biased, he demonstrates that a methodical approach to understanding foreign private equity markets can take advantage of the macroeconomic and structural factors that drive supply and demand dynamics in individual markets.

Foreword by Josh LernerTeaches readers how to investigate and analyze foreign private equity marketsForecasts private equity investment opportunities via macroeconomic and structural factors in individual marketsDraws on data from a proprietary database covering 250 buyout and VC funds and 7,000 portfolio companies.

PART I: PRIVATE EQUITY AS AN ASSET CLASS

Organization, Value Creation and Performance

Global Benchmarks

Private Equity in Diversified Investment Portfolios

Designing Private Equity Programs in Open Markets

PART II: MARKETS, INVESTMENT FLOWS AND DUE DILIGENCE

Global Markets, Regional Penetration and Country Risk

Private Equity Funds and Cross-Border Acquisitions

Cross-Border Fund Commitments, Due Diligence and the Allocation Matrix

Regional Integration: The Case of Europe

Fund Investments and Currency Movements

PART III: WHAT’S NEXT?

Private Equity in the Era of Deleveraging

PART IV: STRATEGIC CONVERSATIONS WITH GENERAL PARTNERS

Chasing Deals Globally: Expansion Strategies and Risk Management of Leading Private Equity Firms