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Paper: eres2013_326
| Paper title: | Performance and Cash Flow Drivers of Private Real Estate Funds |
| Authors: | Farrelly, Kieran; Simon Stevenson |
| Summary: | This study makes use of a unique dataset of predominantly US and global closed-ended unlisted real estate funds to investigate their performance characteristics. The sample covers multiple vintage years and includes a number of fund specific features. These are used to identify the key performance drivers of these vehicles through cross-section regression analysis. Particular attention is paid to the study of the performance persistence of managers. We also are able to make use of detailed cashflow histories for a number of the funds. This enables us to explore the investment timing abilities of fund managers and the determinants of both capital drawdown and distribution rates. |
| Type: | paper session |
| Year of publication: | 2013 |
| Keywords: | Unlisted funds, Finance, Investment, Performance, Performance persistence |
| Series: | ERES:conference |
| Download paper: | http://library.eres.org/cgi-bin/rsa98.pl?conf=ERES2013&type=session&theme=O&slot=6701 |
| Citation: | Farrelly, Kieran; Simon Stevenson (2013). Performance and Cash Flow Drivers of Private Real Estate Funds. 20th Annual European Real Estate Society Conference in Vienna, Austria, http://itc.scix.net/paper/eres2013_326 |
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W78
includes:
W78
inspired by SciX, ported by Robert Klinc [2019]