We improve public understanding of the role of private capital in the global economy. Academic and industry experts work together to generate new knowledge about private capital markets based on objective academic research.

IPC Current Issues in Alternatives, Boston: April 29

We are pleased to announce our inaugural Boston event: IPC Current Issues in Alternatives Symposium on Tuesday, April 29th. This event will explore a broad range of pressing topics in alternatives and their implications for investors.

IPC Spring Research Symposium, Chapel Hill: March 28

This research symposium brings together academic researchers and industry practitioners to discuss applied research in the broad field of private capital and alternative investments.

Alternative Investments Conference (AIC): March 27

Last chance! Limited seats remain for the 2025 Alternative Investments Conference. AIC is one of the premier alternative investment forums in the Southeast, featuring a full day of alternative asset programming, with keynotes, roundtables, and panels, including the CIO Roundtable.

Latest Research

Risk-Adjusted Performance of Private Funds: What Do We Know?

March 26, 2025

In this IPC white paper, we examine the historical risk-adjusted performance of private funds across diverse asset classes and geographies using the most comprehensive and current dataset to date.

ESG Incidents and Fundraising in Private Equity

December 23, 2024

We present novel evidence on how environmental and social (E&S) incidents affect the capital-raising ability of Private Equity (PE) firms. PE firms with E&S incidents in portfolio companies are less likely to fundraise and raise smaller subsequent funds. More

The Performance of Private Video Game Equity

December 07, 2024

I use deal-level data from StepStone to perform the first ever analysis of private video game investment using 566 private video game investment deals, most of which come in the form of venture capital. Using these deals, I analyze private video game companies as a source of value accretion and as investment opportunities.

IPO Update – March 2025

March 10, 2025

Our quarterly IPO forecast model with latest data through the end of February is now available. The U.S. IPO market remains “cold” and unfortunately, our model continues to predict about a 60% chance it will stay cold over the next two quarters. More