A group of leading business school professors has formed a group to study and educate the public on private equity. The buyout business has grown so large that it seems long overdue for such a concerted academic research effort–not that there hasn’t been substantial academic work on private equity and its economic effects already.
This group is comprised of professors from four top business schools: Chicago Booth School of Business, University of Oxford’s Saïd Business School, Virginia Darden and the University of North Carolina’s Kenan-Flagler school. The Private Equity Research Consortium will build on existing study of private equity performance in hopes of expanding public understanding of how private equity funds work and how they perform.
Professors from four leading business schools have established the Private Equity Research Consortium (Perc), dedicated to improving information about this opaque sector of finance.
Tim Jenkinson, professor of finance at the University of Oxford’s Saïd Business School, joins forces with US-based colleagues from Chicago Booth, Virginia Darden and the University of North Carolina’s Kenan-Flagler school, where Perc will be housed.
Prof Jenkinson’s research has found that private equity returns have historically outperformed public market returns by an average 3 to 4 per cent each year. “The industry and its investors would be better served by agreed benchmarks of performance,” argues Prof Jenkinson.
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