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Private Equity Institute

Private Equity Institute

Research

Our aim is to produce the highest quality independent research on the important issues facing the private equity sector.

To do this, we put considerable efforts into obtaining the most reliable and unbiased data on the sector. We are one of the founding members of the Private Equity Research Consortium, which has a data collaboration with Burgiss Group.

Our recent research can be found below. Please contact the authors if you would like to discuss or use the findings.

Fees

Private Equity Portfolio Company Fees
Ludovic Phalippou, Christian Rauch, Marc Umber
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Investor Issues

Adverse selection and the performance of private equity co-investments
Reiner Braun, Tim Jenkinson, Christoph Schemmerl
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Private equity net asset values and future cash flows
Tim Jenkinson, Wayne Landsman, Brian Rountree, Kazbi Soonawalla
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Does transparency overcome conflicts of interest? Evidence from investment managers and their brokers
Mark Abrahamson, Tim Jenkinson, Miguel Sousa
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Picking winners? Investment consultants' recommendations of fund managers
Tim Jenkinson, Howard Jones, Jose Vicente Martinez
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Are too many private equity funds top quartile?
Robert S. Harris, Rüdiger Stucke
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Acquiring acquirers: New evidence on the drivers of acquirer's announcement returns in corporate takeover
Ludovic Phalippou, Fangming Xu, Huainan Zhao
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Is Yale a model?
Ludovic Phalippou
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Institutional investor expectations, manager performance, and fund flows
Howard Jones, Jose Vicente Martinez
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On secondary buyouts
Francois Degeorge, Jens Martin, Ludovic Phalippou
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IPOs

Why don't US issuers demand European fees for IPOs?
Mark Abrahamson, Tim Jenkinson, Howard Jones
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Bids and allocations in European IPO bookbuilding
Tim Jenkinson, Howard Jones
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IPO pricing and allocation: a survey of the views of institutional investors
Tim Jenkinson, Howard Jones
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Quid pro quo? What factors influence IPO allocations to investors?
Tim Jenkinson, Howard Jones, Felix Suntheim
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Leverage

Borrow cheap, buy high?
Ulf Axelson, Tim Jenkinson, Per Stromberg, Michael S. Weisbach
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Who benefits from the leverage in LBOs?
Tim Jenkinson, Rüdiger Stucke
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Performance

The role of financial leverage in the performance of core, value-add and opportunistic private equity real estate funds
Jamie Alcock, Andrew Baum, Nicholas Colley, Eva Steiner
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Performance persistence in real estate private equity
Siem Aarts, Andrew Baum
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Why SPAC investors should listen to the market
Tim Jenkinson, Miguel Sousa
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Private equity performance: What do we know?
Robert S. Harris, Tim Jenkinson, Steven N. Kaplan
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Performance of buyout funds revisited?
Ludovic Phalippou
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Private equity performance and liquidity risk
Francseco A. Franzoni, Eric Nowak, Ludovic Phalippou
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Giants at the gate: On the cross-section of private equity investment returns
Florencio Lopez de Silanes, Ludovic Phalippou, Olivier Gottschalg
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How do private equity investments perform compared to public equity?
Robert S. Harris, Tim Jenkinson, Steven N. Kaplan
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Estimating private equity returns from limited partner cash flows
Andrew Ang, Bingzu Chen, William N. Gootzmann. Ludovic Phalippou
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Fare thee well? An analysis of buyout funds' exit strategies
Sven Furth, Christian Rauch
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Persistence

Has persistence persisted in private equity? Evidence from buyout and venture capital funds
Robert S. Harris, Tim Jenkinson, Steven N. Kaplan, Rüdiger Stucke
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How persistent is private equity performance? Evidence from deal-level data
Reiner Braun, Tim Jenkinson, Ingo Stoff
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Financial intermediation in private equity: How well do fund of funds perform?
Robert S. Harris, Tim Jenkinson, Steven N. Kaplan, Rüdiger Stucke
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Valuation

How fair are the valuations of private equity funds?
Tim Jenkinson, Miguel Sousa, Rüdiger Stucke
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Making a difference

Read our 'Insights from Research' to see how our researchers are making a global impact.

Meet the Finance faculty

The Finance Group comprises of over 20 members, conducting world-class research in all areas of asset pricing and corporate finance.