TITLE

Shares in New P/E Funds Suffer J-Curve Effect

AUTHOR(S)
Lewis, Janet
PUB. DATE
May 2006
SOURCE
Investment Dealers' Digest;5/29/2006, Vol. 72 Issue 21, p8
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the private equity fund market in the U.S. with reference to Kohlberg Kravis Roberts and Co.'s buyout of $5 billion and Apollo Management LLP's $1.5 billion offering on Euronext Amsterdam. Shareholders will not necessarily be getting cash distributions or dividends from the proceeds of exits. An effort has been made to give the GPs some incentive. According to Josh Lerner, a professor of investment banking at Harvard Business School, said that the private equity funds suffered from very volatile share prices. The structure of KKR and Apollo funds is such that investors own units of a limited partnership based in Guernsey, Channel Islands.
ACCESSION #
21024536

 

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