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The Shifting Business Model of Private Equity: Evolution, Revolution, and Trench Warfare

Author: Michael G. Jacobides, London Business School and Jason Rico Saavedra, World Economic Forum
Date: October 2015

Abstract

This report tracks the changes in the business model of private equity (“PE”), considering both changes to PE firms themselves, as well as the evolving links between PE general and limited partners (“GPs” and “LPs”), covering co-investment, direct investment, separately managed accounts, and other recent trends. It considers the changes and their causes, along with the forces for further transformation and for stability. It also delves into the process of business-model evolution, and on the pace and dynamics of change in the sector. Drawing on  ualitative, multi-stakeholder analysis, backed up by industry history, we map the changes so far, speculate on the future of the sector, and consider business-model change more broadly: what brings it about, how it works, and what limits it.

Geography: Global

Type of study: Consulting research

Relevant for: All

Source: ADVEQ Applied Research Series

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