Private Equity: Value Creation and Performance

Christian Graf, Christoph Kaserer, Daniel M. Schmidt

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

4 Scopus citations

Abstract

This article serves as a comprehensive overview of the performance of private equity transactions. It gathers information from an analysis of 10,328 private equity deals, which include 3,296 pure buyout transactions. It introduces a new perspective for the analysis of the key drivers of value creation of private equity. It then isolates the impact of market timing, leverage, and operational improvements on transactions returns before focusing on the transactions in the financial institution industry. This article also provides indirect evidence that shows the possibility of operational improvements being the primary value drivers in other industries as well.

Original languageEnglish
Title of host publicationThe Oxford Handbook of Private Equity
PublisherOxford University Press
ISBN (Electronic)9780199940813
ISBN (Print)9780195391589
DOIs
StatePublished - 18 Sep 2012

Keywords

  • Financial institution industry
  • Leverage
  • Market timing
  • Operation improvements
  • Private equity deals
  • Private equity transactions
  • Pure buyout transactions
  • Transactions returns
  • Value creation

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