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.
This research symposium returns in-person to the University of Oxford, and brings together leading professionals and academics to focus on global issues in private equity.
Join us for the IPC New York Research Symposium, hosted by the Institute for Private Capital on April 26th in NYC.
We invite submissions of theoretical and empirical papers for our fall Private Equity Research Symposium (PERC). Submission deadline July 1, 2023.

Latest Research

Diverse Hedge Funds

April 25, 2023

Hedge fund teams with heterogeneous educational backgrounds, academic specializations, work experiences, genders, and races, outperform homogeneous teams after adjusting for risk and fund characteristics. An event study of manager team transitions, instrumental variable regressions, and an analysis of managers that simultaneously operate solo- and team-managed funds address endogeneity concerns. More

ESG for Institutional Portfolios

March 30, 2023

This white paper examines Environmental, Social, and Governance (ESG) issues in the context of institutional portfolios that include alternative investments, such as private equity, hedge funds, and real assets. The goal of the paper is to provide a framework for understanding issues related to ESG investing through an objective lens grounded in theoretical and empirical economic analysis. More

The Unicorn Puzzle

February 13, 2023

From 2010 to 2021, 639 US VC-funded firms achieved unicorn status. We investigate why there are so many unicorns and why founders grant investors privileges to obtain unicorn status. 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