Latest Research
There is No Carried Interest Loophole
May 27, 2025Carried interest is a special, or disproportionate-to-ownership, allocation of profits to the general partner of a private equity or hedge fund partnership. Some commentators deride carried interest as a “loophole” that... More
Do Development Financial Institutions Create Impact through Venture Capital Investments?
May 20, 2025Despite managing $23 trillion in assets, Development Financial Institutions' (DFIs) investment activities remain understudied. We document DFIs' substantial growth in... More
Private Capital Markets and Inequality
May 17, 2025This paper studies the relationship between the growth in private capital markets and the rise in economic inequalities in the U.S over the last two decades. First, we document that the share of financing raised by early-stage companies from U.S.-based high-net-worth individuals... More
Recent News & Media
What Investors Need to Know to Value Private Portfolios: Interview with IPC’s Greg Brown
April 25, 2025Gregory Brown, Research Director for the Institute for Private Capital and Professor of Finance at UNC Kenan-Flagler Business School recently spoke with CIO Magazine Executive Editor Amy Resnick about his research and what investors should know when valuing illiquid assets. More