Abstract
In many real estate markets, private equity (PE) funds have evolved as an important financial instrument to bridge capital gaps during property development. Over the last 20 years, PE has evidenced a dramatic growth and has arguably fuelled the rapid development of property markets in Japan, EU, and particularly the US, which is the origin of and the most mature PE market. PE has successfully emerged in China amongst tightened lending and contributed to vitalising the real estate market. However, the development of PE in China real estate industry is still at its initial stage. On one hand, the and lsquo;newness' nature is a two-edged sword, implying not just immense opportunities but also significant legal and market risks for fund sponsors and managers. On the other hand, there has been scanty research on PE due to the paucity of data. In this paper, an extensive literature review is presented in an attempt to identify knowledge gaps for future research. The literature review seeks to instill investors, managers, and issuers with the essential savvy of PE characteristics and structure, as well as opportunities and risks in China's real estate market.
| Original language | English |
|---|---|
| Title of host publication | Proceedings of the 2nd International Postgraduate Conference on Infrastructure and Environment, IPCIE 2010 |
| Pages | 155-165 |
| Number of pages | 11 |
| Volume | 2 |
| Publication status | Published - 1 Dec 2010 |
| Event | 2nd International Postgraduate Conference on Infrastructure and Environment, IPCIE 2010 - Hong Kong, Hong Kong Duration: 1 Jun 2010 → 2 Jun 2010 |
Conference
| Conference | 2nd International Postgraduate Conference on Infrastructure and Environment, IPCIE 2010 |
|---|---|
| Country/Territory | Hong Kong |
| City | Hong Kong |
| Period | 1/06/10 → 2/06/10 |
Keywords
- Opportunity and risk
- Private equity fund (PE)
- Real estate
ASJC Scopus subject areas
- Building and Construction
- Environmental Science(all)