Ludovic Phalippou

Ludovic Phalippou

Professor of Financial Economics


Saïd Business School
University of Oxford
Park End Street
Oxford
OX1 1HP

Profile

Ludovic specialises in private equity and asset management.

Ludovic is the author of the bestseller 'Private Equity Laid Bare', and he is a tenured faculty member of Saïd Business School, University of Oxford. He specialises in the areas of private equity that are of interest to investors in that asset class, such as 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. He worked with a number of large institutional investors on their private equity investment decision and benchmarking systems.

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 Institute for Quantitative Research in Finance). 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.

See Ludovic's CV.

Research

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).

He worked with a number of large institutional investors on their private equity investment decisions and benchmarking systems (e.g. Norway $800 billion sovereign wealth fund, APG $400 billion Dutch pension fund and PGGM $200 billion Dutch pension fund). He recently served as a reviewer for VINNOVA, the Swedish Governmental Agency for Innovation Systems.

View Ludovic's research.

Engagement

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:

  • PGGM and APG - Dutch Pension Fund managers with $200 billion and $400 billion assets under management respectively
  • Norway’s sovereign wealth fund – Government Pension Fund Global – which has $800 billion assets under management

Ludovic is a selected member of the Speaker Retainer Program of the CFA Institute and, over the last decade, he has received over 50 invitations to present at university seminars, including in the United States, Canada, Europe and the UK. His papers have been selected for presentation at leading academic conferences, including those run by the Western Finance Association, the American Finance Association and the European Finance Association.

He is a member of the Editorial Board of the Financial Analyst Journal and the Journal of Alternative Investments, referees for a number of professional and academic journals, including American Economic Review, Journal of Finance, Journal of Financial and Quantitative Analysis, Journal of Financial Economics, Management Science, Quarterly Journal of Economics, Review of Financial Studies and Review of Finance.

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.

Teaching

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 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:

  • Private Equity for the MFE and MBA programmes
  • Asset Management for the MFE and MBA programmes
  • Private Equity for the EMBA programme.
  • Various Executive education programmes

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.

Further information

Follow Ludovic on social media.

You can also take a look at his personal website.