Submitted by Bérengère Petit (berengere.ptt@gmail.com) on 2015-01-15T00:26:39Z No. of bitstreams: 1 MPGI Dissertation - Berengere Petit.pdf: 1528129 bytes, checksum: c25e2c2a3abd311fe013226282c5d546 (MD5) / Rejected by Luana Rodrigues (luana.rodrigues@fgv.br), reason: Dear Berengere, Please make the changes below into your dissertation and then post again. 1) The counting of pages starts on the first page, however the page numbers should be viewed only from the introduction. 2) The field of knowledge is associated with the teacher and must contain the same information the minutes. In this case, the concentration area is GESTÃO E COMPETITIVIDADE EM EMPRESAS GLOBAIS. I am available to help if you need it. Best regards, on 2015-01-15T17:30:00Z (GMT) / Submitted by Bérengère Petit (berengere.ptt@gmail.com) on 2015-01-15T20:15:11Z No. of bitstreams: 1 MPGI Dissertation - Berengere Petit.pdf: 1522741 bytes, checksum: b46a01d95a61941ca8d119b947849bf8 (MD5) / Approved for entry into archive by Luana Rodrigues (luana.rodrigues@fgv.br) on 2015-01-16T12:12:52Z (GMT) No. of bitstreams: 1 MPGI Dissertation - Berengere Petit.pdf: 1522741 bytes, checksum: b46a01d95a61941ca8d119b947849bf8 (MD5) / Made available in DSpace on 2015-01-16T15:26:37Z (GMT). No. of bitstreams: 1 MPGI Dissertation - Berengere Petit.pdf: 1522741 bytes, checksum: b46a01d95a61941ca8d119b947849bf8 (MD5) Previous issue date: 2014-12-19 / Private equity, or the act of funds or investors to invest in companies unquoted on public exchange, has taken an increasing importance in the financial world in the past few years. Indeed, while the emergence of a private equity (PE) sector has been a major phenomenon in emerging markets since the middle of the 2000s, the worldwide financial crisis has weakened private equity in the developed world. Thus, this research will focus on two countries with supposedly very different dynamics regarding this sector: France and Brazil. The aim will be to discern general patterns of behavior in both PE sectors throughout a period running from 2006 to 2013, and try to determine to which extent they are comparable. Using the literature as the conceptual source for the comparative framework to be developed, it will be analyzed whether the market conditions and the institutional environment evolved during the studied period in both France and Brazil, if they compare, and if they impacted the level of private equity activity – supply and demand for funds – in both countries. To identify these patterns, this research will rely on an exploratory qualitative data analysis, based on a framework of the determinants of the PE sector identified and taken from the academic literature. This research will bring its contribution to the existing academic work on private equity thanks to its comparative nature and to its conclusion on the relevancy of the aforementioned determinants on private equity activity in France and Brazil. / Private equity, ou o ato de fundos ou investidores de investir em empresas não cotadas em bolsa pública, assumiu uma importância crescente no mundo financeiro nos últimos anos. De fato, enquanto o surgimento de um setor de private equity (PE) tem sido um grande fenômeno em mercados emergentes desde meados dos anos 2000, a crise financeira mundial enfraqueceu private equity no mundo desenvolvido. Assim, esta pesquisa vai se concentrar em dois países com dinâmicas supostamente muito diferentes em relação a este sector: França e Brasil. O objetivo será o de discernir padrões gerais de comportamento em ambos os sectores de PE durante todo o período compreendido 2006-2013, e tentar determinar em que medida eles são comparáveis. Utilizando a literatura como fonte conceitual para o quadro comparativo a ser desenvolvido, será analisado se as condições do mercado e do ambiente institucional evoluíram durante o período estudado na França e no Brasil, se comparar, e se eles impactaram o nível de atividade de private equity - oferta e demanda de fundos - em ambos os países. Para identificar esses padrões, a pesquisa contará com uma análise de dados exploratória qualitativa, com base em um quadro dos determinantes do setor de PE identificados e retirados da literatura acadêmica. Esta pesquisa trazera sua contribuição para o trabalho acadêmico existente sobre private equity, graças à sua natureza comparativa e para a sua conclusão sobre a relevância dos determinantes acima mencionados sobre a atividade de private equity na França e no Brasil.