1 option
Combining Banking with Private Equity Investing / Lily Fang, Victoria Ivashina, Josh Lerner.
- Format:
- Book
- Author/Creator:
- Fang, Lily.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w19300.
- NBER working paper series no. w19300
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2013.
- Summary:
- Bank-affiliated private equity groups account for 30% of all private equity investments. Their market share is highest during peaks of the private equity market, when the parent banks arrange more debt financing for in-house transactions yet have the lowest exposure to debt. Using financing terms and ex-post performance, we show that overall banks do not make superior equity investments to those of standalone private equity groups. Instead, they appear to expand their private equity engagement to take advantage of the credit market booms while capturing private benefits from cross-selling of other banking services.
- Notes:
- Print version record
- August 2013.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.