Ludovic Phalippou

Professor of Financial Economics

Saïd Business School
University of Oxford
Park End Street


Ludovic specialises in private equity and asset management.

Ludovic is the author of the bestseller 'Private Equity Laid Bare', and professor of Financial Economics at Saïd Business School, University of Oxford. He specialises in private market investments with a focus on fee tracking, interest alignment, and return benchmarking.

Named as one of 'The 40 Most Outstanding Business School Profs Under 40 in the World' in 2014, and as one of the 20 most influential individuals in private equity in Europe in 2016, Ludovic has strong links with senior practitioners in the industry, routinely speaks at practitioner conferences, and appears in the media internationally. Ludovic’s research papers have been widely cited in academia, in the press, and in regulatory circles.

Ludovic's paper 'How alternative are private markets?' is one of three 2018 recipients of the Jack Treynor Prize, sponsored by the Q-Group. The Treynor Prize recognises superior academic working papers with potential applications in the fields of investment management and financial markets.  

Ludovic achieved a degree in Economics from Toulouse School of Economics; a Master in Economics and a Master in Mathematical Finance both from the University of Southern California; and a PhD in Finance from INSEAD.

Read Ludovic's CV.

Find out more about Ludovic's work, visit his personal website.


Ludovic focuses on the areas of private equity that are of interest to investors and potential investors in that asset class.

These include risk management, liquidity and measurement of returns. His deep interest in the concerns facing professionals across the world is reflected in his teaching and research.

He has strong links with senior practitioners in the industry, routinely speaks at practitioner conferences, and appears in the media internationally (including The Economist, Financial Times, New York Times).


  • Ludovic Phalippou,
  • Betty Wu
  • Neroli Austin,
  • Ludovic Phalippou
  • Ludovic Phalippou,
  • Gregory Brown
  • Thomas F Hellmann,
  • Veikko Thiele

How Deadly Is Financial Leverage? Evidence from Care Homes during the COVID-19 Crisis

  • Journal article
  • Peter Morris,
  • Ludovic Phalippou,
  • Betty HT Wu
See more publications


Ludovic’s thinking attracts the attention of the professional investment communities.

He is engaged actively in the professional world of asset management and his work is deeply rooted in practice. He regularly connects with practitioners, using the development of theory and practice in order to impact on practice in the sector.

International consultancy is a key aspect of Ludovic’s work. Recent projects include advising Pennsylvania Treasury on the state pension funds, Blackrock Investment Institute on modelling and forecasting returns in private markets.

His research has been cited in a wide range of publications, including the New York Times, the Financial Times, The EconomistPensions and Investments, Euromoney, the Wall Street Journal and BBC World radio.


Ludovic has an informal and provocative approach to teaching, yet deeply tied to academic research and rigour.

He challenges students to think deeply and question their preconceptions. Many of his classes include question-and-answer sessions because he provokes searching questions from students which he addresses by drawing on his deep understanding of practice. Overall, it is a pragmatic approach aimed to shake up expectations and stimulate the students with memorable ideas.

Ludovic uses role plays, newspaper articles and case studies to focus his teaching on the developments and issues that confront practitioners. He also brings in exceptional guest speakers who are all experienced professionals who reflect the broad spectrum of perspectives. His teaching approach is therefore dynamic and very much applied to practice.

Ludovic teaches the following courses at Saïd Business School:

As part of the School's online Executive Education portfolio, he has created the Oxford Private Markets Investments Programme, based on his research, and contributes to the Oxford Future of Real Estate Programme.  

Student feedback on Ludovic's teaching

He has a good pedagogical method, pushes us to think critically, and embodies everything that an outstanding Oxford professor should be.

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Ludovic supervises Saïd Business School doctoral students

Oxford Anwers

Thought-leadership and insights for business leaders written by our Faculty and Associate Fellows.
View articles by Ludovic.

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