We improve public understanding of the role of private capital in the global economy. Academic and industry experts work together to generate new knowledge about private capital markets based on objective academic research.

16th Annual Private Equity Research Symposium November 14-15

Save the date for our 16th Annual Private Equity Research Symposium in Chapel Hill.

2024 IPC Real Assets Research Symposium NYC – October 10

The symposium will bring together leading academics and practitioners for discourse and discussion on innovative topics in the field of real assets.

2024 Chicago Private Equity Research Symposium – Sept 12

The Institute for Private Capital (IPC) and the Private Equity Research Symposium (PERC) return to Chicago for this symposium highlighting recent research in private equity performance metrics, interim valuation reporting, and industry panel discussion on “Decision Making with Uncertain Private Fund Valuations”

Latest Research

Private Debt versus Bank Debt in Corporate Borrowing

August 01, 2024

This paper examines the interaction between private debt and bank debt in corporate borrowing. Combining administrative bank loan-level data with non-bank private debt deals, we document that about half of U.S. private debt borrowers also rely on bank loans. More

Are Some Angels Better Than Others?

July 10, 2024

This paper explores the tremendous variation in investment performance of angel investors. The returns are highly skewed: Despite the massive losses incurred in most investments, the mean return is twice the invested capital.

The Trillion Dollar Bonus of Private Capital Fund Managers

July 05, 2024

Carry is a performance-related payment made to private capital fund managers (general partners of limited partnerships). We find that as much as 70% of invested capital is in the carry, and funds focusing on Leveraged Buy-Outs and Secondaries are nearly all in the carry (83%, 91%). More

IPC Research Update & Event Schedule – Aug 2024

August 08, 2024

In case you missed it - read the latest quarterly update from the Institute for Private Capital, with newly released research and insider insights on evolving trends in private equity, and an exciting line-up of fall research events.