CONVERGENCE AND DIVERSITY IN THE HEDGE FUND AND PRIVATE EQUITY INDUSTRY

Omololu Bajulaiye, Mark Fenwick, Ivona Skultetyova, Erik P.M. Vermeulen

研究成果: 書籍/レポート タイプへの寄稿

抄録

This chapter identifies differences in hedge fund and private equity strategies in terms of investments, strategies, and fundamental terms. These underlying structural differences have implications for the type of investor attracted to each investment style. Previously, investment decisions could be made on a set of trade-offs, but increased competition in the hedge fund industry is now the main factor driving the type of fund operating and competing in investment markets. This chapter describes the terms and conditions which address fund formation and operation, fees and expenses, profit sharing and distributions, as well as corporate governance. No matter how appealing the prospects of hedge fund and private equity convergence, there are significant concerns: can both types of fund combine different investment styles without affecting the level of returns?; can the transition toward financial convergence be blocked if hedge fund investors object to valuations based on subjective, and not actual, market trading?;can ‘side pockets’ in a hedge fund be isolated from the costs of accounting for the two streams of capital?.

本文言語英語
ホスト出版物のタイトルThe Oxford Handbook of Hedge Funds
出版社Oxford University Press
ページ160-190
ページ数31
ISBN(電子版)9780198840954
DOI
出版ステータス出版済み - 1月 1 2021

!!!All Science Journal Classification (ASJC) codes

  • 経済学、計量経済学および金融学(全般)
  • ビジネス、管理および会計(全般)

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