![]() To the extent that private equity funds acquire foreign portfolio companies, their performance may be affected by currency movements.Įxchange rate changes work both ways, not just for LPs but also for GPs. ![]() Some funds have become truly global, chasing deals across different geographies and holding an international portfolio of companies. As we have seen in Chapter 7, private equity funds invest a nontrivial part of their capital in foreign markets acquiring assets in currencies different from the fund currency. Limited Partners may be exposed to currency risk even if they commit capital only to private equity funds in their home currency. Peter Cornelius, in International Investments in Private Equity, 2011 10.3 Skills or (bad) luck?
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