{"product_id":"the-art-of-commitment-pacing-engineering-allocations-to-private-capital-9781394159604","title":"The Art of Commitment Pacing: Engineering Allocations to Private Capital","description":"\u003cp\u003e\u003cb\u003eAdvanced guidance for institutional investors, academics, and researchers on how to manage a portfolio of private capital funds\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eThe Art of Commitment Pacing: Engineering Allocations to Private Capital\u003c\/i\u003e provides a much-needed analysis of the issues that face investors as they incorporate closed ended-funds targeting illiquid private assets (such as private equity, private debt, infrastructure, real estate) into their portfolios. These private capital funds, once considered \"alternative\" and viewed as experimental, are becoming an increasingly standard component of institutional asset allocations. \u003c\/p\u003e \u003cp\u003eHowever, many investors still follow management approaches that remain anchored in the portfolio theory for liquid assets but that often lead to disappointing results when applied to portfolios of private capital funds where practically investors remain committed over nearly a decade. \u003c\/p\u003e \u003cp\u003eWhen planning for such commitments, investment managers and researchers are faced with practical questions such as: \u003c\/p\u003e \u003cul\u003e \u003cli\u003eHow to measure and control the real exposure to private assets? \u003c\/li\u003e \u003cli\u003eHow to forecast cash-flows for commitments to private capital funds? \u003c\/li\u003e \u003cli\u003eWhat ranges for their returns and lifetime are realistic, and how can the investor's skill be factored in? \u003c\/li\u003e \u003cli\u003eOver which dimensions should a portfolio be diversified and how much diversification is enough? \u003c\/li\u003e \u003cli\u003eHow can the impact of co-investments or secondaries be modelled? \u003c\/li\u003e \u003cli\u003eHow to design pacing plans that lead to resilient and efficient portfolios? \u003c\/li\u003e \u003cli\u003eWhat stress scenarios should be considered and how can they be applied? \u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003cbr\u003eThese are just examples of the many questions for which answers are provided. \u003ci\u003eThe Art of Commitment Pacing\u003c\/i\u003e describes established and new methodologies for building up and controlling allocations to such investments. This book offers a systematic approach for building up and controlling allocations to such investments. \u003c\/p\u003e \u003cp\u003e\u003ci\u003eThe Art of Commitment Pacing\u003c\/i\u003e is a valuable addition to the libraries of investment managers, as well as portfolio and risk managers involved in institutional investment. The book will also be of interest to advanced students of finance, researchers, and other practitioners who require a detailed understanding of forecasting and portfolio management methodologies. \u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cp\u003e \u003cb\u003eTHOMAS MEYER, \u003c\/b\u003e is the co-author of \u003ci\u003eBeyond the J Curve \u003c\/i\u003e(translated into Chinese, Japanese, and Vietnamese), \u003ci\u003eJ Curve Exposure\u003c\/i\u003e, \u003ci\u003eMastering Illiquidity \u003c\/i\u003e(all by Wiley), and two CAIA books, which are required reading for Level II of the Chartered Alternative Investment Analyst (R) Program. He authored \u003ci\u003ePrivate Equity Unchained \u003c\/i\u003e(by Palgrave MacMillan).\u003cbr\u003e\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":50459084357906,"sku":"9781394159604","price":50.99,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0831\/4771\/8930\/files\/img_5b423159-17dc-4044-8ad2-00e6009628a1.jpg?v=1729975241","url":"https:\/\/surprise-castle.myshopify.com\/products\/the-art-of-commitment-pacing-engineering-allocations-to-private-capital-9781394159604","provider":"Surprise Castle","version":"1.0","type":"link"}