Private Equity Syndication and Management Team Composition

 The private equity industry has recently drawn much attention in the global financial landscape. When it comes to finding promising deals, the management team has to first collect information, assess it, and then makes decisions concerning those deals. Among others, one thing to decide is whether to syndicate the deals or not. In theory, syndication, the joint underwriting among investment parties, might help alleviate the risks and uncertainties facing private equity firms, in terms of both the pre-deal screening and the post-deal value-added services. On the face of it, if they're certain about the prospects of the deals under consideration and the capability of conducting the deal alone, there seems no obvious reason to search for syndication partners.

This project aims to investigate the determinants of private equity syndication, with a particular focus on management team characteristics. Also, we intend to further understand which kind(s) of management team composition work better and why so.