News

Private Equity Research Consortium Prepares Fund Holdings Data for Academic Analysis; Celebrates 10-year Partnership with Data Provider Burgiss

News
August 20, 2019

The Private Equity Research Consortium this fall plans to make fund holdings data available for academic research—a development that helps mark the 10-year partnership between data provider Burgiss and the Institute for Private Capital, an affiliate of UNC Kenan-Flagler Business School’s Frank H. Kenan Institute of Private Enterprise. More

Distorting Private Equity Performance: The Rise of Fund Debt

News
July 19, 2019

James Albertus and Matthew Denes, both professors from the Tepper School of Business at Carnegie Mellon University, examined the impact of subscription lines of credit on private equity fund performance in a new research paper, “Distorting Private Equity Performance: The Rise of Fund Debt.” The paper uses a new proprietary dataset created with the assistance of Burgiss, the world’s largest provider of capital data and analytics, and facilitated through the Institute for Private Capital and the Private Equity Research Consortium. The findings indicate that subscription lines have a substantial positive impact on fund-level leverage and reported IRRs but little impact on multiples. More

Institute for Private Capital Paper Wins Western Finance Association Award

News
June 20, 2019

Institute for Private Capital Research Director Greg Brown, UNC Kenan-Flagler Ph.D. candidate Matteo Binfarè, Darden School of Business Professor Bob Harris and UNC Kenan-Flagler Professor Christian Lundblad's latest paper is the recipient of the Two Sigma Award for the Best Paper on Investment Management. The Western Finance Association announced the award at their annual meeting in Huntington Beach, California on Monday, June 17. Read the paper "How Do Financial Expertise and Networks Affect Investing? Evidence from the Governance of University Endowments." More

IPC Co-hosts Annual NYC PERC Symposium

News
May 15, 2019

IPC was happy to co-host its annual NYC PERC symposium along with AlpInvest Partners on April 12th. Steve Kaplan (Univ. of Chicago) and Prof Arthur Korteweg (USC) on topics of risk-adjustments in private equity returns and convergence of public and private market returns. Panelists included a number of industry experts such as Iain Leigh, Managing Director of Global Private Equity, APG and Monica Spencer, Senior Portfolio Manager, The Andrew W. Mellon Foundation. We thank AlpInvest Partners for once again hosting this event at its offices and look forward to next year. More

2nd Singapore Private Equity Research Symposium

News
May 09, 2019

After a successful start in 2018, PERC hosted together with the Institute for Private Capital and the St.Gallen Institute of Management in Asia (SGI-HSG) of the University of St.Gallen the 2nd Singapore Private Equity Research Symposium, which took place on 8 March 2019. Over 40 professionals from the investment industry gathered for the presentations of cutting-edge research followed by a lively discussion bridging theory and practice. More

Have Private Equity Returns Really Declined?

News
May 06, 2019

Kenan Institute Executive Director Greg Brown and University of Chicago Booth School of Business Professor Steve Kaplan have co-authored a new white paper assembling the most current, comprehensive performance data on U.S. private equity buyout funds available. Contrary to some recent articles, this research shows U.S. buyouts have consistently outperformed public markets in the post-crisis era. More

IPC Welcomes BroadVail Capital Partners as a Member

News
March 19, 2019

BroadVail Capital Partners is a private equity and advisory firm based in Houston, Texas, and focused on the commercial real estate (“CRE”) sector. BroadVail is led by co-founders and managing partners Brett Hetherwick, James Tramuto and Robert Zorich, who bring diverse CRE expertise in investment banking, investment management and principal ownership. BroadVail’s team of five investment professionals has more than 40 years of combined experience across multiple asset classes including office, hospitality, multifamily, student housing, retail, self storage, industrial and healthcare. More

Scientists Prove Crowded Hedge Fund Stocks Are Real and Risky

News
February 26, 2019

While swimming with the hedge fund sharks returns a few percent more than the market over time, watch out when the rout comes, when crowded shares fall harder than everything else, according to research by three business school professors at the University of North Carolina at Chapel Hill and Wake Forest University. More

10 Years of Excellence in Private Equity Research

Blog Post
December 06, 2018

On Nov. 1-2, leading practitioners and top researchers from around the world joined together at the tenth annual Private Equity Research Consortium (PERC) Symposium in Chapel Hill, NC. Hosted by the Institute for Private Capital, an affiliated center of the Frank Hawkins Kenan Institute of Private Enterprise, the conference has established a reputation as leading the discussion between leading academics and practitioners in the private capital arena. This year’s symposium not only unveiled the latest research insights, but also served as an occasion to look back at ten years of achievements and successes. More

10th Annual PERC Symposium

News
October 12, 2018

We hope you will join us for the 10th anniversary of the PERC Symposium held on November 1-2 in Chapel Hill at the Rizzo Center. More