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Private Equity Institute


Professor Tim Jenkinson wins award for paper on private equity research

A research paper by Professor Tim Jenkinson has been named the winner of the 2016 Harry Markowitz Award. The paper – ‘How do private equity investments perform compared to public equity?’ written with Robert S Harris (UVA Darden) and Steven Kaplan (Chicago Booth) – compared the merits of investing in private versus public equity.

Professor Jenkinson commented: “We are delighted to receive the Harry Markowitz Award. Private equity has historically produced impressive returns. But, as we document in this research, public equity and private equity performance have been converging in recent years. We hope this research helps investors to design their future asset allocations, and that it will help inform continuing debate on management fees, profit shares, and fund structures.”

The 2016 Harry Markowitz Award – which is named in honour of Nobel Prize-winning financial economist, Harry Markowitz - celebrates the best paper to appear in the Journal of Investment Management. The award supports research and innovation in practical asset management, and the winners are chosen by a panel which includes Harry Markowitz and other Nobel laureates. The US$10,000 prize will be presented at the JOIM Spring Conference in San Diego in March.



Tim Jenkinson View profile

Tim Jenkinson is Professor of Finance at Saïd Business School, University of Oxford. He is also the Director of the Private Equity Institute, Oxford.