Analysis of the private equity performance in Brazil

Bibliographic Details
Main Author: Soares, Ricardo Jorge Vitorino
Publication Date: 2011
Format: Master thesis
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: http://hdl.handle.net/10071/4329
Summary: The goal of this paper is to evaluate the performance of private equity activity in Brazil, taking into account the difficult times that the worldwide activity is being through. Considering that Brazil is currently one of the major emerging economies in the world (Enert&Young, 2011) and the fact of private equity‘s activity in this country registered a positive evolution, this study allowed to evaluate not only the evolution of the funds that are implemented in the Brazilian market, but also permitted to understand the main factors that had lead it to this growth. Through this work was also possible to compare the returns of private equity funds with the evolution of the principal stock exchange in Brazil (IBOVESPA), in order to determine the level of implicit risk in both alternatives. The results suggest that private equity performance was slightly higher than IBOVESPA, and even more important the results also showed that private equity funds, in average, were less risky than the stock exchange. Therefore, according to the results, the analysis undertaken proved to be an important tool to unveil the new reality of private equity in the Brazil, so it could be used by any investor who has this market as a target.
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spelling Analysis of the private equity performance in BrazilPrivate equityPerformanceIPO Initial Public OfferingIBOVESPACapital de riscoPerformanceThe goal of this paper is to evaluate the performance of private equity activity in Brazil, taking into account the difficult times that the worldwide activity is being through. Considering that Brazil is currently one of the major emerging economies in the world (Enert&Young, 2011) and the fact of private equity‘s activity in this country registered a positive evolution, this study allowed to evaluate not only the evolution of the funds that are implemented in the Brazilian market, but also permitted to understand the main factors that had lead it to this growth. Through this work was also possible to compare the returns of private equity funds with the evolution of the principal stock exchange in Brazil (IBOVESPA), in order to determine the level of implicit risk in both alternatives. The results suggest that private equity performance was slightly higher than IBOVESPA, and even more important the results also showed that private equity funds, in average, were less risky than the stock exchange. Therefore, according to the results, the analysis undertaken proved to be an important tool to unveil the new reality of private equity in the Brazil, so it could be used by any investor who has this market as a target.O presente trabalho teve como objectivo avaliar o desempenho da actividade de capital de risco no Brasil num período bastante conturbado da actividade a nível mundial. Visto que o Brasil é actualmente uma das principais economias emergentes no mundo, e que a actividade de capital de risco neste país tem evoluído de uma forma bastante positiva (Enest&Young, 2011) o estudo desenvolvido permitiu avaliar não só a evolução dos fundos que estão implementados no mercado Brasileiro, mas também entender os principais factores que conduziram a este crescimento. Através deste trabalho foi também possível comparar o crescimento do capital de risco com a evolução do principal índice bolsista no Brasil (IBOVESPA) com o intuito de se poder parametrizar o nível de risco face às duas alternativas estudadas. Os resultados obtidos sugerem que a actividade de capital de risco no Brasil apresentou um comportamento ligeiramente superior ao do IBOVESPA, sendo que a principal nota de destaque prende-se com o facto de os fundos de capital de risco, em média, terem apresentado um risco bastante inferior ao do mercado bolsista. Assim sendo o presente estudo revela-se importante para que esta nova realidade do capital de risco no mercado Brasileiro possa ser conhecida em toda a sua plenitude por todos os investidores que tenham interesse no mercado Brasileiro.2013-01-08T12:06:13Z2011-01-01T00:00:00Z20112011-04info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfapplication/octet-streamhttp://hdl.handle.net/10071/4329engSoares, Ricardo Jorge Vitorinoinfo:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2024-07-07T03:49:21Zoai:repositorio.iscte-iul.pt:10071/4329Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-28T18:32:40.256916Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv Analysis of the private equity performance in Brazil
title Analysis of the private equity performance in Brazil
spellingShingle Analysis of the private equity performance in Brazil
Soares, Ricardo Jorge Vitorino
Private equity
Performance
IPO Initial Public Offering
IBOVESPA
Capital de risco
Performance
title_short Analysis of the private equity performance in Brazil
title_full Analysis of the private equity performance in Brazil
title_fullStr Analysis of the private equity performance in Brazil
title_full_unstemmed Analysis of the private equity performance in Brazil
title_sort Analysis of the private equity performance in Brazil
author Soares, Ricardo Jorge Vitorino
author_facet Soares, Ricardo Jorge Vitorino
author_role author
dc.contributor.author.fl_str_mv Soares, Ricardo Jorge Vitorino
dc.subject.por.fl_str_mv Private equity
Performance
IPO Initial Public Offering
IBOVESPA
Capital de risco
Performance
topic Private equity
Performance
IPO Initial Public Offering
IBOVESPA
Capital de risco
Performance
description The goal of this paper is to evaluate the performance of private equity activity in Brazil, taking into account the difficult times that the worldwide activity is being through. Considering that Brazil is currently one of the major emerging economies in the world (Enert&Young, 2011) and the fact of private equity‘s activity in this country registered a positive evolution, this study allowed to evaluate not only the evolution of the funds that are implemented in the Brazilian market, but also permitted to understand the main factors that had lead it to this growth. Through this work was also possible to compare the returns of private equity funds with the evolution of the principal stock exchange in Brazil (IBOVESPA), in order to determine the level of implicit risk in both alternatives. The results suggest that private equity performance was slightly higher than IBOVESPA, and even more important the results also showed that private equity funds, in average, were less risky than the stock exchange. Therefore, according to the results, the analysis undertaken proved to be an important tool to unveil the new reality of private equity in the Brazil, so it could be used by any investor who has this market as a target.
publishDate 2011
dc.date.none.fl_str_mv 2011-01-01T00:00:00Z
2011
2011-04
2013-01-08T12:06:13Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
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url http://hdl.handle.net/10071/4329
dc.language.iso.fl_str_mv eng
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application/octet-stream
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron:RCAAP
instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
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repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
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