Latest Research
The Performance of Private Video Game Equity
October 30, 2024I use deal-level data from StepStone to perform the first ever analysis of private video game investment using 510 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. More
The Private Capital Alpha
September 25, 2024The alpha of an investment reflects its ability to increase the Sharpe ratio of a benchmark portfolio allocation based on tradable factors. We argue that, in the context of private capital, the usual approach to estimate alpha is misleading because it ignores the economic realities of investing in private markets. More
Private Debt versus Bank Debt in Corporate BorrowingÂ
August 01, 2024This paper examines the interaction between private debt and bank debt in corporate borrowing. Combining administrative bank loan-level data with non-bank private debt deals, we document that about half of U.S. private debt borrowers also rely on bank loans. More
Recent News & Media
IPC Research Update & Event Schedule – Aug 2024
August 08, 2024In case you missed it - read the latest quarterly update from the Institute for Private Capital, with newly released research and insider insights on evolving trends in private equity, and an exciting line-up of fall research events.
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