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Market-Based Solutions to Vital Economic Issues


Market-Based Solutions to Vital Economic Issues

private equity


PERC returns to Oxford University’s Saïd Business School on May 26-27, 2022, for the Private Equity Research Consortium Spring Symposium. This group of scholars and industry professionals conducts and promotes research on private equity. This research symposium offers the opportunity for this group to engage with new academic research.

Since 2008, the Alternative Investments Conference has served as a forum for private equity, hedge fund, venture capital and other alternative asset professionals to network, share ideas and stay abreast of industry trends. The conference provides insights into current topics in alternative investments as well as the opportunity to meet and learn from some of the most influential industry leaders.

Please join us for an exclusive conversation with Worthington Industries President and Chief Executive Officer, Andrew Rose on Wednesday, February 16. This discussion is part of the Dean’s Speaker Series, hosted by Kenan-Flagler Business School Dean Doug Shackelford.

Greater focus on social justice has brought systemic inequities in the corporate sector to light, leading companies to step up their efforts in attracting and retaining a diverse workforce – but many challenges remain in implementing those goals. Following a joint report between the Kenan Institute and EY, this week’s Kenan Insight breaks down some challenges companies may face while trying to reach their diversity, equity and inclusion goals.

The Institute for Private Capital’s newly-released interactive model that aims to help private equity leaders assess diversity, equity and inclusion (DEI) goals was featured in a report by Ernst & Young.

A recent report highlighting diversity, equity and inclusion in private equity and the launch of an accompanying interactive tool – developed by EY and IPC in collaboration with the Kenan Institute – were recently featured in Yahoo Finance. IPC Founder and Research Director Greg Brown said the model was made to help PE firms understand the link between DEI practices and recruitment and retention.

Private equity continues to grow as a major investment vehicle in the U.S. and globally. The 12th annual PERC Conference will build on its legacy as a leading research symposium in the ever-expanding field of private equity.

Our analysis reveals that banks could develop capital-constrained by holding nonperforming household debts supported by central bank liquidity. We demonstrate the sequential responses to nonperforming assets on retained earnings, capital reserve, and new equity issuance. With capital reserves, banks can keep adding risky assets when retained earnings lag. Running low, banks have to downsize and issue new equity. We document market predictions on firms’ exposure before a systemic event: large banks collectively reduced their debt supply in 2009. Practicing selectively and collectively downsizing, banks prioritize clients on historical revenue contribution. Borrowers with exclusive relationships report lower risk exposure.

Kenan Institute Executive Director Greg Brown talks with host Winna Brown of EY’s NextWave Private Equity podcast about how the research he’s involved in as research director of the Institute for Private Capital is helping to predict PE performance.

The Private Equity Research Consortium and the Institute for Private Capital (IPC) at the University of Oxford, Saïd Business School will host the 2021 Spring Private Equity Research Symposium on May 27. The Spring Symposium supplements, and will follow the same format as, the long-standing PERC Fall Symposium that takes place each year at UNC. The conference will be held virtually this year for the safety of our members and attendees.

We examine how mission-oriented grand challenges—formed to address the public sector’s unmet needs through development of new technologies and products for high potential impact—originate and catalyze industry incubation. Our analysis of six prominent cases identifies the incubation process, consisting of: identification of unmet needs as a grand challenge, championing and articulation of a mission, leverage of private enterprise, and success or failure of the mission for subsequent industry emergence. The resulting conceptual model highlights key similarities and differences of industry incubation stemming from the public sector’s mission-oriented grand challenges relative to industries triggered by scientific discoveries or unmet user needs where the public sector is not as salient. The analysis reveals successful outcomes are associated with the public sector’s goal setting and carrying out “market functions” pertaining to selection, coordination, and knowledge sharing. We also provide cautions and caveats regarding fault lines that may arise in public-private partnerships.

Many providers of defined-contribution investment plans, such as 401(k) plans, have advocated for broader access to private investments. In this Kenan Insight, we examine the operating, regulatory and legal constraints involved in allowing that access, and explore what, if anything, retail investors are likely to gain from investing in private funds.