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

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

The Value of Privacy and the Choice of Limited Partners by Venture Capitalists

September 01, 2022

This paper documents how information disclosure concerns shape the choice of limited partners by venture capital firms. Late-2002 court rulings forced public pension plans and public university endowments to disclose fund performance information. The most successful, and typically oversubscribed, venture capital firms responded by excluding public institutions from their new funds, replacing them with domestic nonpublic and foreign investors. More

Recent News & Media

Is the U.S. Economy at a Boiling Point, or Just Simmering?

January 19, 2022

As the U.S. continues to face COVID-19 and supply chain disruptions, experts debate just how worked up the economy is in its current state. This Kenan Insight serves as the first in a two-part point-counterpoint series, in which Kenan Institute Executive Director Greg Brown and Chief Economist Gerald Cohen hash out the arguments both for and against an overheating economy. More