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| Tekijä: | Cumming, D. Fleming, G. Johan, S. A. |
| Otsikko: | Institutional investment in listed private equity |
| Lehti: | European Financial Management
2011 : JUN, VOL.17:3, p. 594-618 |
| Asiasana: | institutional investors pension funds stock markets listed companies assets funds human capital models European union |
| Vapaa asiasana: | listed private equity |
| Kieli: | eng |
| Tiivistelmä: | Used the data provided by LPEQ, Preqin and Scorpio Partnership covering 171 institutional investors in Europe in 2008–2010. The article examines institutional investorsÂ’ propensity to invest in a relatively unknown asset class of listed private equity. It is found the following: 1) allocations are primarily a function of size, type, location, decision-making authority and liquidity preferences. 2) investment in listed private equity is more commonly made by institutions that are smaller, private (not public) pension institutions, institutions that have a preference for liquidity, quick access, and administrative and cash flow management simplicity, and institutions that are based in the UK, Switzerland, Sweden and the Netherlands. 3) institutions are less likely to invest in listed private equity when investment decision-making is empowered to an alternative asset class team. |
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