Smaller buyouts outperforming their larger cousins, but riskier, says new research by Pantheon

By Paul Bryant – “We had a hunch that small and mid-cap managers had more ‘juice to squeeze’ from their deals and deliver higher returns than large-cap managers. But we didn’t have hard evidence to back that view up,” says Dr Andrea Carnelli Dompé, vice president at Pantheon, an investor with USD46 billion of assets under management in private equity, infrastructure and real assets. 

“As we already had an extensive database of deal data, it just made sense to review that critically, and test to see if our hunch was right.”