Asset Allocation and Private Markets: A Guide to Investing with Private Equity, Private Debt, and Private Real Assets

ISBN-13: 9781119381006 / Angielski / Twarda / 2021 / 320 str.

Cyril DeMaria; Maurice Pedergnana; Remmy He

Opis

The comprehensive guide to private market asset allocation Asset Allocation and Private Markets provides institutional investors, such as pension funds, insurance groups and family offices, with a single-volume authoritative resource on including private markets in strategic asset allocation. Written by four academic and practitioner specialists, this book provides the background knowledge investors need, coupled with practical advice from experts in the field. The discussion focuses on private equity, private debt and private real assets, and their correlation with other asset classes to establish optimized investment portfolios. Armed with the grounded and critical perspectives provided in this book, investors can tailor their portfolio and effectively allocate assets to traditional and private markets. In-depth discussion of return, risks, liquidity and other factors of asset allocation takes a more practical turn with guidance on allocation construction and deployment, the "endowment model," and hedging -- or lack thereof. Unique in the depth and breadth of information on this increasingly attractive asset class, this book is an invaluable resource for investors seeking new strategies.

• Discover alternative solutions to traditional asset allocation strategies
• Consider the attractive returns of private markets
• Delve into private equity, private debt and private real assets
• Gain expert perspective on correlation, risk, liquidity and portfolio construction

Private markets represent a substantial proportion of global wealth. Amidst disappointing returns from stocks and bonds, investors are increasingly looking to revitalise traditional asset allocation strategies by weighting private market structures more heavily in their portfolios. Pension fund and other large asset managers need deeper information than is typically provided in tangential reference in broader asset allocation literature; Asset Allocation and Private Markets fills the gap, with comprehensive information and practical guidance.

Spis treści

Foreword Acknowledgments About the Authors Data Sources Abbreviations and Acronyms Introduction Chapter 1: Sources of Capital: Nature, Constraints, and Objectives Chapter 2: Asset Allocation: Models, Limits, and Adaptations Chapter 3: Private Markets Investing Chapter 4: The Three Dimensions of Investment Chapter 5: Portfolio Construction and Management Conclusion Glossary Bibliography Index

O autorze

CYRIL DEMARIA is the manager of a series of venture capital funds, after serving as partner and head of private markets at Wellershoff & Partners and Chief Investment Officer in charge of private markets research at UBS Wealth Management. He is an Affiliate Professor at EDHEC Business School. MAURICE PEDERGNANA is General Secretary of SECA, the representative body for private markets in Switzerland. He is professor at the Lucerne University of Applied Sciences and CIO at Zugerberg Finanz. RÉMY HE is an investment analyst at Obviam, a Swiss investment firm focusing on private markets investments in emerging and frontier market. ROGER RISSI is a lecturer at the Lucerne University of Applied Sciences and Arts (HSLU). His research areas include advanced capital market and portfolio theory, corporate finance, risk management and asset allocation with alternative investments. SARAH DEBRAND is a Capital Markets Senior Analyst in a leading investment bank in London.