Latest Research
IPO Market Forecast – August 2025 Update
August 08, 2025This update of IPC’s IPO model shows that the IPO Market has returned to normal (even if just barely). It’s a far cry from the “hot” market of 2021, but we see positive signs – if momentum continues in August, the IPO Market could finally sustain a more normal posture over the longer term. More
Optimal Hedge Fund Allocation
July 15, 2025This study addresses the optimal asset allocation problem for investors managing a diversified portfolio of stocks, bonds, and hedge funds. Significant allocations to hedge funds may be justified due to their diversification benefits, even when hedge funds generate minimal or no alpha.
MorePrivate Capital Markets and Inequality
July 08, 2025This paper studies the relationship between the growth in private capital markets and the rise in economic inequalities in the U.S over the last two decades. First, we document that the share of financing raised by early-stage companies from U.S.-based high-net-worth individuals...
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2025 PERC Symposium Oxford: Best Paper Award
June 09, 2025The Private Equity Research Consortium (PERC) convened at the University of Oxford Saïd Business School on May 22-23, 2025 for its annual European research symposium. And the award for best paper goes to... More