Investors have been increasing their allocations to private assets, seeking higher returns
and better portfolio diversification. However, as this allocation increases, the liquidity …

Although risk management has been explored thoroughly in financial modeling for over
three decades, there is still a limited understanding of how to correctly quantify and manage …

Keeping strategic allocations at target level to maintain high exposure to private equity is a
complex but essential task for investors who need to balance against the risk of default …

Institutional investors must deal with irrevocable commitments, cash flow uncertainty, and
illiquidity when making new commitments to maintain their portfolio exposure to private …

Achieving and maintaining high allocations to Private Equity and keeping allocations at the
targeted level through recommitment strategies is a complex task which needs to be …

Praise for Active Alpha" Active alpha is the quest for every sophisticated investor. This book
covers all of the key alpha sources currently mined by active managers, reduces the …

For institutional investors in private equity, a recommitment strategy to achieve a desired
asset allocation is at least as important as the decision about the asset allocation itself …

This paper extends the standard Merton portfolio choice model to include illiquid private
equity funds. This is done in a realistic modeling framework where private equity funds …

This paper develops a reinvestment strategy for private equity which aims to keep its
portfolio weight equal to a desired strategic allocation, while taking into account the illiquid …

Recommitments are essential for limited partner investors to maintain a target exposure to
private equity. However, recommitting to new funds is irrevocable and expose investors to …