High Returns On A Small Fund Challenge Low Returns On A Big Fund
David Teten
MARCH 2, 2013
The Economics of Private Equity Funds demonstrates that the VC industry survives mostly on fee-based income (of which larger funds have a proportionally larger amount). Tom draws on two metrics to demonstrate that larger funds are, in fact, more likely to be top performers. But the paper I linked to by Steve Kaplan et al.
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