William Volckmann

Research Professor, IPC

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

Related Publications

A Methodology for Analyzing the Performance of Private Equity by Sector and Industry

The performance of private investments has historically been undertaken at the fund level. Recent advances in data collection and access have made it possible instead to analyze the performance of private investment deals.

IPO Market Forecast – August 2025 Update

This update of IPC’s IPO model shows that the IPO Market has returned to normal (even if just barely). It’s a far cry from the “hot” market of 2021, but we see positive signs – if momentum continues in August, the IPO Market could finally sustain a more normal posture over the longer term.
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Evergreen vs. Drawdown Funds: Risk, Returns and Cash Flows

Evergreen funds are a rapidly growing segment of the private capital universe. While open-ended structures have existed for decades in some asset classes such as real estate, the more recent products have included a broader set of assets such as private equity and credit.
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Inflation Hedging and Real Assets: Are Public and Private Investments the Same?

The resurgence of inflation risk has revealed stark contrasts between public and private real asset investments, particularly in infrastructure and real estate. Using granular data on 1,291 private infrastructure deals and 4,377 private real estate deals, along with private fund returns, this study...
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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.

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.