Mathonet / Meyer J-Curve Exposure

Managing a Portfolio of Venture Capital and Private Equity Funds
1. Auflage 2008
ISBN: 978-0-470-72340-1
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 476 Seiten, E-Book

Reihe: Wiley Finance Series

Building on the success of the author's previous bookBeyond the J Curve:Managing a Portfolio of VentureCapital and Private Equity Funds, this work covers new andadditional material and offers advanced guidance on the practicalquestions faced by institutions when setting up and managing asuccessful private equity investment programme. Written from thepractitioner's viewpoint, the book offers private equity andventure capital professionals an advanced guide that will make highreturn targets more realistic and sustainable.
Factors that can sometimes cause institutions to shy away fromventure capital are the industry's opaque track record,unclear valuations and risks, perceived lack of transparency aswell as the significant entry barriers to overcome before tangibleresults show. These issues are all addressed in details withpractical solutions to the problems. Among other topics J-CurveExposure includes discussions of:
* Experiences with the adoption of the International PrivateEquity and Venture Capital Valuation Guidelines to address fairvalue under IFRS.
* Approaches for splitting and prioritizing distributions fromprivate equity funds.
* Techniques for track record analysis and other tools to helplimited partners in their due diligence.
* Approaches to dealing with uncertainty, the relevance of realoptions, and co-investments and side funds as advanced portfoliomanagement techniques.
* Questions related to limited partner decision making fallaciesand how to manage portfolios of VC funds.
* Securitization backed by portfolios of investments in privateequity funds.
Real life case studies illustrate the issues relevant for thepractitioner.

Autoren/Hrsg.

Mathonet, Pierre-Yves

Meyer, Thomas

Über Autor(innen)

PIERRE-YVES MATHONET MSc Fin MSc Mngt, is heading theventure capital unit within the risk management division of theEuropean Investment Fund. He is also a member of the private equitysubcommittee of the Chartered Alternative Investment Analyst®Program.Before that, he worked as an investment bankerin the technology groups of Donaldson, Lufkin & Jenrette, andCredit Suisse First Boston, and previously for the audit andconsulting departments of PricewaterhouseCoopers. He is a regularspeaker at major conferences, and initiated and chaired theEVCA's Private Equity Foundation Course for Limited Partners.He has contributed articles to some leading alternative investmentsand financial publications. Pierre-Yves holds a Master of Sciencecum laude in Finance from London Business School and a Master ofScience magna cum laude in Management from Solvay Business Schoolin Brussels. He is also a Certified European Financial Analyst cumlaude.
Dr THOMAS MEYER heads up the risk management division ofthe European Investment Fund. Over the last few years he has beenresponsible for the creation of the European InvestmentFund's risk management function. The focus of his work is thedevelopment of valuation and risk management models and investmentstrategies for venture capital fund-of-funds. Thomas studiedcomputer science at the Bundeswehr Universität in Munichfollowed by doctoral studies at the University of Trier. He holdsan MBA from the London Business School and an MA in JapaneseLanguage and Society from the University of Sheffield. After 12years in the German Air Force he worked for the German insurancegroup Allianz AG in corporate finance and as the regional ChiefFinancial Officer of Allianz Asia Pacific in Singapore. He was aVisiting Research Fellow at Hitotsubashi University in Tokyo and isa member of the private equity subcommittee of the CharteredAlternative Investment Analyst® (CAIA) Program.
Together, as risk managers, the authors are responsible for oneof the largest European private equity portfolio's with ofmore than 250 funds and over EUR6 billion under management.