文档介绍：Beyond the J-curve
Managing a Portfolio of Venture Capital and
Private Equity Funds
Thomas Meyer & Pierre-Yves
This is the first work that I have seen prehensively covers the important subject of
valuing, evaluating and measuring the performance of private equity funds. Much has been
published in journals and papers on individual aspects of this controversial subject by various
segments of the stakeholder universe – usually putting forward partisan viewpoints. This is
the first time that a holistic, integrated and disciplined framework has been adopted. The
approach taken has yielded a rich crop of useful results including an innovative methodology
for determining fair value for private equity funds during the course of their long lives;
portfolio design and benchmarking methods; a prototype grading and fund scoring system.
Essential reading for investors and a useful state-of-the-art reference manual for private
equity managers.
Christopher . Brotchie, Formerly Chief Executive of the Baring Private Equity
Group and Member of the ING Management Council
This book goes a long way to filling the vacuum of digestible thought and writing about
private equity fund investing. It provides structure and rigour to all aspects of the investment
process and will be an invaluable reference for the limited munity. But more
than anything else, it provides a platform on which to build greater understanding as the
asset class evolves and the role of fund investors es more demanding.
Chris Davison, Associate Director, Almeida Capital
The transactions, size and stories of private equity and venture capital investment activity
are the focus of many news publications today. It is not quite the same situation in the area
of academic and technical publications, where much remains to be researched and published.
The authors of Beyond the J Curve have taken on the ambitious project of analysing the
difficult and controversial area of valuing fund portfolios.