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The risk premium of private equity - a geographical comparison
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This thesis demonstrates empirical evidence for performance determinants of private equity funds with investments in the United States, Canada, Japan, United Kingdom, France and Germany using a comprehensive database with information on private equity performances. The analysis provides findings on determinants and their impact on private equity fund performances. The results indicate a positive impact of public stock market index excess returns and show empirical evidence of a negative impact of rising interest rates on fund performances due to a substitution effect for other investment opportunities and a higher cost of leverage.
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Private equity Fund performance Alternative investments Risk premium