Why do private equity funds-of-funds grow?

The funds-of-funds managers co-mingles the investments of many small investors into a single pool, then uses it to assemble a portfolio of venture capital funds, LBO funds, and/or hedge funds. Private equity funds-of-funds raised more than $27 billion in 2005, up from $18.7 billion in 1999 and just $19 million in 1991 (Asset News, 2006). Funds-of-funds offer investors access to top-performing funds and knowledge of emerging funds that have the potential to achieve top quartile performance, according to Piper Jaffray.

In 2007, funds-of-funds comprised approximately 38% of all the private equity raised. The growth in funds-of-funds parallels the phenomenal growth in venture capital. Asset News reports that private equity funds-of-funds have grown in terms of the amount of capital these funds raised for venture capital and private equity investments as well.

2.1. Institutional Investor's Perspective Top-performing, professionally managed private equity investment opportunities are ... more.

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