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

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.

Risk-Adjusted Performance of Private Funds: What Do We Know?

In this IPC white paper, we examine the historical risk-adjusted performance of private funds across diverse asset classes and geographies using the most comprehensive and current dataset to date.
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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.

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.