The Global Economic Impact Of Private Equity Report 2008

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The World Economic Forum is proud to release this first volume of Working Papers from our Globalization of Alternative Investments project. This report is the culmination of a year-long partnership between leading international scholars, industry practitioners, other distinguished experts and stakeholders, and our organization. We hope that these Working Papers represent a first step to providing a comprehensive and robust fact-base related to the global economic impact ofprivate equity to enable a rich series of further discussions and analyses.

E-Book Content

Globalization of Alternative Investments Working Papers Volume 1 The Global Economic Impact of Private Equity Report 2008 The Globalization of Alternative Investments Working Papers Volume 1: The Global Economic Impact of Private Equity Report 2008 is published by the World Economic Forum. It is the result of collaboration with faculty at various academic institutions. The Working Papers in this volume are the work of the authors and do not represent the views of the World Economic Forum. World Economic Forum World Economic Forum USA Inc. 91-93 route de la Capite CH-1223 Cologny/Geneva Switzerland Tel.: +41 (0)22 869 1212 Fax: +41 (0)22 786 2744 E-mail: [email protected] www.weforum.org 3 East 54th Street 17th Floor New York, NY 10022 Tel.: +1 212 703 2300 Fax: +1 212 703 2399 E-mail: [email protected] www.weforum.org/usa © 2008 World Economic Forum USA Inc. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system without explicit written permission from the World Economic Forum USA and the respective authors. REF: 150108 World Economic Forum Geneva, Switzerland World Economic Forum USA Inc. New York, USA January 2008 Globalization of Alternative Investments Working Papers Volume 1 The Global Economic Impact of Private Equity Report 2008 Contributors Co-editors Advisory Board Anuradha Gurung Senior Project Manager and Global Leadership Fellow, World Economic Forum USA Chair: Joseph L. Rice, III Chairman of Clayton Dubilier & Rice, Inc. Josh Lerner Jacob H. Schiff Professor of Investment Banking at Harvard Business School Vice Chairs: Michael Klein Chairman and Co-Chief Executive Officer Markets and Banking, Citi Inc. Core research team R. Glenn Hubbard Dean and Russell L. Carson Professor, Columbia Business School Lead Academic: Josh Lerner Jacob H. Schiff Professor of Investment Banking at Harvard Business School Core team members: Ann-Kristin Achleitner Head of the KfW Endowed Chair in Entrepreneurial Finance and Scientific Co-Director of the Centre for Entrepreneurial and Financial Studies (CEFS), Technische Universität München Francesca Cornelli Professor of Finance, London Business School Lily Fang Assistant Professor of Finance, INSEAD Roger Leeds Research Professor and Director of the Center for International Business and Public Policy, School of Advanced International Studies (SAIS), Johns Hopkins University Per Strömberg Associate Professor of Finance, Stockholm School of Economics and Senior Research Fellow, Swedish Institute for Financial Research Numerous researchers contributed to this volume of Working Papers and are listed accordingly in the respective work. Board Members Piero Barucci Professor, Autorità Garante della Concorrenza e del Mercato Wim Borgdorff Managing Partner, AlpInvest Pa
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