William Volckmann

Research Associate, IPC

William is a research associate at the Institute for Private Capital. He majored in mathematics and economics from the University of Wisconsin – Madison and earned his master’s degree in economics from the University of California – Davis. He has published both theoretical and empirical economics research.

Related Publications

The Performance of Private Video Game Equity

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.

Do GP Commitments Matter?

It is standard practice for private equity general partners (GPs) to commit capital to a fund alongside limited partners (LPs). Despite the ubiquity of the practice, and the belief that it aligns GP-LP incentives, there is almost no large-sample empirical analysis of GP commitments. In this analysis, we seek to fill the gap in research...

The Performance of Small Business Investment Companies

We utilize results of a survey of Small Business Investment Companies (SBICs), along with data from MSCI-Burgiss, to perform a novel analysis of SBIC performance. Overall, we find via the survey that SBIC funds outperform comparable non-SBIC peers by an average of around 4%...

What Do We Know About Institutional-Quality Hedge Funds?

Using publicly available sources such as trade press and Form ADV filings, we compile a list of 561 “institutional-quality” hedge fund managers that each have at least 1 billion USD in primary hedge fund assets under management.

Is the U.S. IPO Market About to Thaw? IPC Research Notes

The U.S. IPO market is in the midst of an unusually long cold spell. Investors are concerned about how the IPO market, and more broadly the market for private equity exits, has affected distributions to their portfolios. This has led us to wonder how the current episode compares to historical IPO activity and if recent signs (e.g., the recent filing by Shein) suggest the market is thawing.
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Related News

New Analysis Finds SBICs Outperform Peers

In a new IPC study "The Performance of Small Business Investment Companies", we find that Small Business Investment Companies (SBICs) funds perform quite well relative to non-SBIC peers in IRR, MOIC, and PME, yielding both positive average and median peer-adjusted performance.