RT Journal Article SR Electronic T1 Why PE Firms are Restructuring (and Not Just Their Portfolio Companies) JF The Journal of Private Equity FD Institutional Investor Journals SP 22 OP 28 DO 10.3905/JPE.2009.12.4.022 VO 12 IS 4 A1 Greg J Pappas A1 Isabella Allen A1 Anneli Schalock YR 2009 UL https://pm-research.com/content/12/4/22.abstract AB This article, based on a study of about 70 middle-market private equity firms, found that a majority either are making changes to the way they organize functions or are planning to make changes soon. While most general and limited partners correctly believe that organizational structure has a significant impact on investment returns and the amount of risk their firms can assume, they are unclear as to what structures would be optimal. This article examines the forces driving this desire for change and suggests a methodology for achieving the proper structure according to a firm’s history, culture, and goals.TOPICS: Private equity, equity portfolio management, analysis of individual factors/risk premia, in portfolio management