Investing in Private Equity Partnerships - The Role of Monitoring and Reporting

Foreword

Acknowledgements

Table of Contents

Table of Figures

Table of Abbreviations

Table of Symbols

1 Introduction

1.1 Relevance of Topic

1.2 Aims of Analysis and Research Approaches

1.3 Structure of Analysis

2 Investing in Private Equity Partnerships

2.1 Fundamentals of Private Equity

2.2 Characteristics of Private Equity Partnerships

2.3 Characteristics of Private Equity Partnership Investments

2.4 Governing the Relationship between Limited and General Partners

2.5 Fund Investors’ Investment Process

2.6 Institutional Differences and Limited Partners’ Investment Success

2.7 Role of Information in the Relationship between General and Limited Partners

3 Fund Investors’ Monitoring

3.1 Introductory Remarks

3.2 Research Methodology and Data

3.3 Relevance and Objectives of Monitoring

3.4 Monitoring Performance

3.5 Monitoring and Fund Governance

3.6 Monitoring and Fund Re-Investing

3.7 Monitoring and Fund Portfolio Management

3.8 Resulting Information Requirements

4 Fund Managers’ Reporting

4.1 Introductory Remarks

4.2 Statutory Financial Statements

4.3 Fair Value Measurement of Private Equity Portfolio Company Investments

4.4 Investor Reporting

5 Conclusion

5.1 Summary

5.2 Implications for Practitioners

5.3 Implications for Further Research

Appendix A: List of Interview Partners

Appendix B: Interview Questionnaire

Appendix C: Disclosure Index

References