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.
The 14th Annual Private Equity Research Symposium will highlight recent research on buyouts, private credit, and venture capital, among other topics.
We invite submissions of theoretical and empirical papers for the 2023 PERC Spring Symposium at the University of Oxford. Submission deadline January 31, 2023
 

Latest Research

Selecting Private Equity Funds Using Machine Learning

November 04, 2022

Prospective investors in Private Equity (PE) funds receive a large amount of non-standardized and qualitative information about fund manager investment strategies. Using a novel and proprietary sample of 380 Private Placement Memoranda, we combine for the first time Natural Language Processing techniques and Machine Learning algorithms to forecast PE fund success based on investment approach descriptions. More

Are Lower Fees Better? Changing the Management Fee Basis in Private Equity

October 27, 2022

Does reducing management fees to private equity fund managers preclude investors from hiring skilled managers and induce agency problems? I study a popular management fee contract that reduces management fees by paying a percentage of capital invested into the fund's unrealized projects. More

Should Private Companies Have the Same SEC Disclosure Requirements as Public Companies?

September 29, 2022

A debate between Ludovic Phalippou, Professor of Financial Economics, Saïd Business School, University of Oxford and Gregory Brown,  Sarah Graham Kenan Distinguished Professor of Finance at the University of North Carolina-Chapel Hill’s Kenan Flagler Business School. More

Recent News & Media

2022 PERC Symposium Best Paper Award

November 29, 2022

This year’s award goes to Minmo Gahng and Blake Jackson (University of Florida, Warrington College of Business) for their paper Selling Private Equity Fees. Their paper examines private equity (PE) firms’ minority stake sales and the impact of these sales on agency frictions with fund investors. More