Top Academic Researchers Become Newest Members of First Street Foundation Flood Lab, Studying Flooding Impact on the U.S.
Researchers at UNC Chapel Hill, including Jacob Sagi, an expert on financial economics, decision theory, and real estate finance, Andra Ghent, associate professor of finance, and Greg Characklis, professor of Environmental Engineering, have recently joined the First Street Foundation Flood Lab, a partnership that provides free access to cutting edge flood risk data for critical public analysis. More
Decoding the Worst Quarter in Economic History
There is no doubt that the COVID-19 crisis has devastated the U.S. economy. But the particulars of this devastation are difficult to gauge, because unique aspects of the of the pandemic distort the data commonly used to assess such situations. More
IPC is Pleased to Announce a New Research Partnership with the Hedge Fund Research and Intelligence Organization PivotalPath
The Institute for Private Capital (IPC) is pleased to announce a new research partnership with the hedge fund research and intelligence organization PivotalPath. PivotalPath’s proprietary research platform, PivotalBase, provides predictive ratings on more than 2,000 institutional funds representing more than $2 trillion of global hedge fund assets. More
How Will COVID-19 Affect Commercial Real Estate?
Commercial real estate is a major asset class, with an estimated value of more than $12 trillion in the U.S. alone. But the stay-at-home orders and business closures precipitated by the COVID-19 pandemic have the potential to negatively – and disastrously – affect commercial properties. What will the short- and long-term impacts be, which types of properties will be hardest hit and what policies can be put in place to help stem the tide of losses? UNC Kenan-Flagler Business School Professor and Leonard W. Wood Center for Real Estate Studies Faculty Advisor Andra Ghent and her colleagues examine these issues in this week’s Kenan Insight. More
IPC Welcomes T.J. Carlson, CIO for TMRS, as its Newest Board Member
March 1, 2020 – The Institute for Private Capital announces the appointment of the newest member to its Board of Directors, TJ Carlson. TJ is the chief investment officer for the Texas Municipal Retirement System (TMRS) in Austin, Texas. More
The COVID-19 Pandemic and Small Business Employment
The COVID-19 pandemic has put 18 million jobs at small businesses in the U.S. at risk – which could as much as quadruple the nation’s total unemployment rate. The effects of both the coronavirus and recent government relief programs were explored by a panel of Kenan Institute-convened experts during a press briefing held yesterday. The full recording of this briefing—along with a deeper-dive analysis on the specific implications of the financial downturn on small business employment by Kenan Institute Research Director Professor Christian Lundblad and UNC Kenan-Flagler Business School Professor Paige Ouimet—is available in this week’s Kenan Insight. More
Business and Economic Impact of COVID-19
To help separate fact from fiction and legitimate concern from panic, the Kenan Institute of Private Enterprise and UNC Kenan-Flagler Business School convened six top faculty researchers to discuss the likely effects of the pandemic on business and the economy. More
Can Investors Time Their Exposure to Private Equity?
Private equity markets are highly cyclical. The aggregate amount of capital committed to the sector varies substantially from peak to trough, and many have observed that periods of high fundraising activity are followed by periods of low absolute performance for the asset class (see Harris, Jenkinson, and Kaplan, among others). This raises an important question: is it possible to market-time the allocations to private equity to avoid the cyclicality of performance? More
CIO Compensation at Endowments and Foundations Related to Investment Returns
UNC's Matteo Binfarè and UVA's Robert Harris found a 1% increase in investment return leads to a 3% increase in the CIO’s pay, according to a recent study published this past December. More
Taming Unicorns: The Chaotic World of Mutual Fund Valuation
Over the last two decades, public and private equity markets have changed dramatically. For instance, the total number of publicly listed firms decreased from more than 7500 in 1997 to approximately 3500 in 2018. This precipitous decline can be attributed to a corresponding sharp drop in the number of IPOs. More