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HEC PE Observatory

Our Work

 

Latest Ranking 

 

Top 5 performers in the "The 2013 HEC-DowJones Private Equity Performance Ranking"  

Rank

PE Firms

1 GTCR LLC
2 Vista Equity Partners
3 Waterland Private Equity Investors B.V.
4 Hellman & Friedman LLC
5 ABRY Partners LLC

 

To see the full ranking and obtain more information click here 

 

 

Latest Article

 

 

Corporate Governance and Value Creation: Evidence from Private Equity

Review of Financial Studies, 26(2), 368-402. December 2012

“Using deal-level data from transactions initiated by large private equity houses, we find that the abnormal performance of deals is positive on average, after controlling for leverage and sector returns. Higher abnormal performance is related to improvement in sales and operating margin during the private phase, relative to that for quoted peers. General partners who are ex-consultants or ex–industry managers are associated with outperforming deals focused on internal value-creation programs, and ex-bankers or ex-accountants with outperforming deals involving significant mergers and acquisitions. The findings suggest…”

 

 

To see the full list click here

 

 

Latest Study

 

 

Don't be fooled by IRR! Why 21% of the Buyout Funds in the Top Quartile do not belong there

PERACS Research Brief – Spring 2013 

 

 

To see the full list click here

 

 

Ongoing Projects

 

Risk and return of PE worldwide: Documenting PE performance based on qualitative indicators of absolute and relative performance, sources of value, strategic positioning and volatility of returns, in collaboration with PERACS and major PE industry associations.

 
To find out more and which other projects we are working on click here