Private equity’s performers
A working paper examining 112 LPs across four decades has found that investors aggressively chasing discounts could “paradoxically” end up with lower returns.
The research report, published by Josh Lerner, Jason Mao, Antoinette Schoar and Nan Zhang, using State Street records, looked at the challenges LPs face when pursuing lower fees in the private equity industry as well as the two levels of investors.
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