Beyond the J Curve: Managing a Portfolio of Venture Capital and Private Equity Funds - Hardcover

'This book goes a long way to filling the vacuum of digestible thought and writing about private equity fund investing. It provides structure and rigour to all aspects of the investment process and will be an invaluable reference for the limited partner community. But more than anything else, it provides a platform on which to build greater understanding as the asset class evolves and the role of fund investors becomes more demanding.'
—Chris Davison, Associate Director, Almeida Capital

'This is the first work I have seen that comprehensively covers the important subject of valuing, evaluating and measuring the performance of private equity funds. Much has been published on individual aspects of this controversial subject by various segments of the stakeholder universe – usually putting forward partisan viewpoints. This is the first time that a holistic, integrated and disciplined framework has been adopted. The approach taken has yielded a rich crop of useful results including an innovative methodology for determining fair value for private equity funds during the course of their long lives; portfolio design and benchmarking methods; a prototype grading and fund scoring system. Essential reading for investors and a useful state-of-the-art reference manual forprivate equity managers.'
—Christopher K. B. Brotchie, Formerly Chief Executive of the Baring Private Equity Group and Member of the ING Management Council

'Congratulations to both Thomas Meyer and Pierre-Yves Mathonet for their publication Beyond the J Curve. They should be highly commended for breaking a long-standing taboo – investing in private equity can now be modelled. Beyond the J Curve not only reveals a theoretical approach to Fair Value for private equity funds but also proposes a complete approach for investors to build up a comprehensive and effective programme for private equity investments. I am personally convinced that our industry should become more involved with this type of approach in order to best explain the interest of investing in private equity.'
—Pierre Hervé, General Secretary of Natexis Private Equity, Chairman of AFIC's Basel II and IFRS working groups, and Member of EFRAG's Venture Capital working group

'Beyond the J Curve is a timely guide for investors in private equity, with an elegant balance of analysis and practical suggestions. Its emphasis on monitoring and active portfolio management should promote more effective stewardship of private equity assets in the future.'
—Brenlen Jinkens, Director, Cogent Partners Europe

BEYOND THE J CURVE

Thomas Meyer & Pierre-Yves Mathonet

In recent times, venture capital and private equity funds have become household names, but so far little has been written for the investors in such funds – the socalled 'limited partners'. Beyond the J Curve provides an innovative toolset for such limited partners to design and manage portfolios tailored to the dynamics of this market place, going far beyond the typical and often-simplistic recipe to 'go for top quartile funds'.

'The authors of Beyond the J Curve have taken on the ambitious project of analysing the difficult and controversial area of valuing fund portfolios. Their innovative and integrated approach opens up the framework within which these valuations are practised by investors, and offers alternatives. Beyond the J Curve is a thorough and pioneering contribution to the current debate.'
— Javier Echarri, Secretary General, European Private Equity & Venture Capital Association (EVCA)

'In this groundbreaking book, Meyer and Mathonet provide both the theoretical underpinnings for, and practical realities of, building a successful portfolio of private equity investments. It is an invaluable resource for any institutional investor who is constructing or managing a portfolio of investments in private equity and/or venture capital.'
— Mark D. Wiseman, Chairman, Institutional Limited Partners Association (ILPA)

'Beyond the J Curve is right on target, giving the private equity investment manager much-needed guidance on how to put private equity into a modern diversified investment portfolio. It provides practical, comprehensive advice on traversing the often risky waters of venture and private equity investing and provides a thorough and advanced introduction. It should become a 'musthave' reference.'
— Jesse E. Reyes, Managing Director, Reyes Analytics