Skip to main navigation Skip to main content
info(at)avldigital.remove-this.de
Deutsch English
Narrow Search
Search narrowed by
Last searches

Results for *

Displaying results 1 to 3 of 3.

  1. Surveillance games: the international political economy of combatting transnational market abuse
    Author: Kellerman, Miles
    Published: April 2020

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
  2. Will Nasdaq's diversity rules harm investors?
    Author: Fried, Jesse M.
    Published: 2021
    Publisher:  Harvard Law School, Cambridge, MA

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Discussion paper / Harvard John M. Olin Center for Law, Economics, and Business ; no. 1058 (04/2021)
    Subjects: NASDAQ; SEC; corporate governance; boards; diversity
    Scope: 1 Online-Ressource (circa 10 Seiten)
    Notes:

    This paper can also be downloaded without charge from: The Social Science Research Network Electronic Paper Collection: dx.doi.org/10.2139/ssrn.3812642 (European Corporate Governance Institute - Law Working Paper No. 579/2021)
  3. The rise of private equity continuation funds
    Author: Kastiel, Kobi; Nili, Yaron
    Published: [2024]
    Publisher:  Stigler Center for the Study of the Economy and the State, University of Chicago Booth School of Business, Chicago, IL

    This Article provides the first comprehensive examination of an emerging practice within the private equity sector-continuation funds. Continuation funds break from the traditional private equity model by allowing sponsors to hold on to assets beyond... more

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 827
    Inter-library loan:
    No inter-library loan

     

    This Article provides the first comprehensive examination of an emerging practice within the private equity sector-continuation funds. Continuation funds break from the traditional private equity model by allowing sponsors to hold on to assets beyond the typical fund term and, instead of selling the assets to third parties, sell them to their own newly established fund. Lauded by the private equity industry as providing "optionality" to investors, by allowing them to cash out or roll over, continuation funds have grown to represent a major segment of investment activity in the United States. Despite their surging popularity among private equity sponsors, they are subject to investor resistance, and, puzzlingly, most existing investors in the original funds decline the option to roll over their stakes into a continuation fund, even though it is run by the same private equity firm with which they have cultivated relationships for years. This Article addresses this puzzle and makes three contributions to the literature. First, we highlight the labyrinth of concerns that cast a shadow on the growing prevalence of continuation funds. Specifically, we show that private equity managers have strong incentives to establish continuation funds and explore the web of conflicts of interest between sponsors and investors and among investors themselves. Second, employing in-depth interviews with market participants from both sides of the aisle- -investors and sponsors--we examine the practical dynamics of continuation funds, exploring the cautionary tale they present to the conventional deference of law and economic theory to private contracting among sophisticated parties. Third, we present two alternative viewpoints regarding continuation funds: the market outcome view and the market failure view, and against this backdrop, we offer several policy recommendations that are particularly timely in light of the SEC's recently adopted rules addressing the issue.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/281759
    Edition: Draft November 2023
    Series: New working paper series / Chicago Booth, Stigler Center for the Study of the Economy and the State ; no. #340 (January 2024)
    ECGI working paper series in law ; no 733 (November 2023)
    Subjects: Private Equity; Continuation Funds; Corporate Governance; Corporate Law,Securities Law; Reputation; Related Party Transactions; SEC
    Scope: 1 Online-Ressource (circa 66 Seiten), Illustrationen