2023 PERC Symposium Best Paper Award

November 22, 2023

The Private Equity Research Consortium (PERC) recently convened on November 2-3, in Chapel Hill for the 15th annual research symposium. Attendees voted "Do Investors Overvalue Startups? Evidence from the Junior Stakes of Mutual Funds" as this years best paper. More

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

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

New IPC Tool Helps Companies Evaluate DEI Goals

December 08, 2021

The Institute for Private Capital’s newly-released interactive model that aims to help private equity leaders assess diversity, equity and inclusion (DEI) goals was featured in a report by Ernst & Young. More

2021 PERC Symposium Best Paper Award

November 23, 2021

The Private Equity Research Consortium (PERC) recently convened on November 11-12, in Chapel Hill for the 13th annual research symposium. Over the course of two days, academic researchers and industry practitioners gathered for a discussion of the most pressing issues in private equity. In keeping with tradition, attendees voted for the Best Paper presented at PERC. This year’s award goes to Nicola Giommetti and Morten Sørensen for their paper Optimal Allocation to Private Equity. More

The Evolution of Private Equity Fund Value

August 24, 2021

On average, venture capital and buyout funds experience a performance fall off after seven to eight years, while the cross-sectional dispersion amongst them increases. IPC’s Gregory Brown joined Jian Zhang, Partner from Adams Street Partners, and Wendy Hu, Senior Researcher at Burgiss, for a webcast on August 19 to discuss their research findings, as well as the implications for GPs, LPs, the secondaries market, and for asset allocation in PE. More

John L. Bowman, Senior Managing Director for the CAIA Association, and Greg Brown, Research Director at the Institute for Private Capital, discuss Brown’s article “The Evolution of Private Equity Fund Value” as it appeared in the spring edition of CAIA’s official Member publication The Journal of Alternative Investments.

May 27, 2021


IPC Welcomes New York State Common Retirement Fund as a New Member

May 24, 2021

We are pleased to announce that New York State Common Retirement Fund joined the Institute for Private Capital as a member earlier this year. The New York State Common Retirement Fund is the third largest public pension plan in the United States, providing retirement security for over one million New York State and Local Retirement System members, retirees and beneficiaries. More

IPC is Pleased to Announce a Data Partnership with the Hedge Fund Research and Intelligence Organization PivotalPath

January 29, 2021

Today, IPC announces a data partnership with PivotalPath, a hedge fund research and intelligence organization, which, we believe, establishes a similar growth path for research in hedge funds. More

Debt and Leverage in Private Equity: A Survey of Existing Results and New Findings

January 04, 2021

This paper examines leverage and debt financing in the private equity buyout market. We provide an overview of how debt is utilized in buyout investment structures and a review of existing theoretical and empirical academic literature. The analysis also includes results from new data sources with information on deal structure and performance since the global financial crisis (GFC). We document that leverage ratios (Net Debt / EBITDA) have increased substantially in recent years and the increase is even more pronounced after unwinding EBITDA “adjustments” which have become increasingly large. More