Article on the performance of PE flips in the market.
Private equity groups that "flip" companies by floating them within a year of acquisition fail to create long-term value for equity investors because such offerings underperform other listings and the market, according to an academic study.
The report by Josh Lerner, professor of investment banking at Harvard Business School, and Jerry Cao of Boston College, could reignite controversy over "quick flips" just as buyout firms are poised to raise billions by listing recent acquisitions.
but isnt that the whole premise of private equity?
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