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

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.


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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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Unpacking Private Equity Performance

Performance analysis of private equity funds is challenging because fund ownership does not trade in a liquid market with observable prices. Instead performance analysis, especially during a funds life, must rely on observed cash flows to and from the fund and quarterly net asset value (NAV) estimates. Further complicating the analysis are the increasingly common practices of funds using subscription lines of credit (fund-level debt) and recycling capital.
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