Work detail

Further Determinants of Private Equity

Author: Mgr. Vojtěch Mravec
Year: 2012 - summer
Leaders: PhDr. Petra Kolouchová
Consultants:
Work type: Finance, Financial Markets and Banking
Masters
Language: English
Pages: 69
Awards and prizes:
Link:
Abstract: This thesis examines determinants of two variables important in evaluating private equity investments.
First of them is the price of companies acquired by private equity funds expressed as a multiple of a
profit indicator and the impact of primary and secondary buyouts. The second variable researched is the
internal rate of return, a popular tool to measure profitability of private equity funds. The internal rate of
return is studied for different groups of private equity funds and is reflected in a post-crisis perspective.
The first conclusion stemming from the research is that the profit multiples in secondary buyouts are
estimated to be higher compared to primary buyouts. The second conclusion proves the
underperformance of real estate funds and the outperformance of distressed debt, turnaround and
secondaries funds.
Downloadable: DT Mravec

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