Financial crisis and private equity performance in France

Amel Sahli and Sabrina Khemiri ()
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Amel Sahli: DVRC - De Vinci Research Center - DVHE - De Vinci Higher Education
Sabrina Khemiri: DVRC - De Vinci Research Center - DVHE - De Vinci Higher Education

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Abstract: This study aims at analysing the performance of the private equity industry in France taking into account the financial subprime crisis. Based on a sample of 339 private equity funds, the results show that the financial crisis negatively and significantly impacted the performance of private equity funds. Development capital funds and buy-out funds experienced a significant decline in their performance after the crisis. Results show a better resilience of small funds in comparison to larger ones. The bigger funds suffered from a severe drop in their performance after the beginning of the financial crisis.

Keywords: Financial crisis; Private equity; Performance; Internal rate of return; France (search for similar items in EconPapers)
Date: 2020
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Published in International Journal of Entrepreneurship and Small Business, 2020, 39 (1/2), pp.279-294. ⟨10.1504/IJESB.2020.104254⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02934461

DOI: 10.1504/IJESB.2020.104254

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