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...Ludovic Phalippou, professor of finance at Oxford Saïd Business School, estimates that it has accounted for half of the money received by firms....
...“They are everywhere, they have become more professionalised,” said Ludovic Phalippou, professor at Oxford’s Saïd Business School, noting “the sheer size” of its ambitions....
...Then in 2020 Phalippou, a professor of financial economics at Oxford’s Saïd Business School, brought a gun to the fight....
...To tide us over, here’s what Oxford university’s Ludovic Phalippou — not a big fan of the private equity industry — acerbically predicted that NBIM would say ahead of the recommendation: Dear board, We...
...But Ludovic Phalippou, one of the researchers, says that qualitative factors identified by AI can account for a 25 per cent spread in performance between the highest and lowest terciles in a spread of funds...
...Professor Ludovic Phalippou of the Saïd Business School has called the industry a billionaire factory, where the billionaires are the fund managers rather than the entrepreneurs....
...One 2020 paper by Ludovic Phalippou of the Saïd Business School, for example, found that private equity funds had returned about the same as public equity indices since at least 2006....
...“Private equity is capitalism on steroids,” says Oxford university’s Professor Ludovic Phalippou, who has spent 20 years studying the industry....
...Ludovic Phalippou, a professor of finance at Oxford Saïd Business School, said that the expenses heaped on to investors at the discretion of GPs shows that the alignment of interests between private equity...
...“At the moment, investing in PE is like walking into a jungle,” says Phalippou. “All you can hope is that the lions will be friendly.”...
...That business, which they both own, thereby benefits from a tax deduction, points out Ludovic Phalippou of Oxford’s Saïd Business School....
...The conflicts of interest are obvious,” Phalippou told the Financial Times....
...as well as some of the rather BS responses from the funds themselves, take a look at a paper entitled “An Inconvenient Fact: Private Equity Returns & The Billionaire Factory”, by Oxford academic Ludovic Phalippou...
...In a paper last year, Oxford academic Ludovic Phalippou estimated that “private equity funds have returned about the same as public equity indices since at least 2006,” while collecting $230bn in performance...
...Ludovic Phalippou, professor of finance at Oxford Saïd Business School, last year published a paper that estimated the private equity industry had taken $230bn in performance fees from funds raised in 2006...
...Still, a paper by Oxford university academic Ludovic Phalippou last year found returns on average were roughly equal to a cheap index fund tracking smaller stocks....
...I think we would have noticed,” said Mr Phalippou....
...Beyond that, it gives a misleading picture; one that, as Prof Phalippou puts it, “allows you to create an amazing track record out of thin air”....
..., Mr Phalippou asks. The confusion surrounding ethical investment is unlikely to be solved by more auditors and standards....
...“The performance of PE funds, net of fees, matched that of public equity markets since 2006,” said Mr Phalippou....
...Mr Phalippou himself has some suggestions....
...A recent study of the back catalogue of these SEC filings by the Oxford academic Ludovic Phalippou reveals the extraordinary durability of their performance. Take Apollo, for example....
...A recent paper by the Oxford academic Ludovic Phalippou suggests that they should put more of their own capital on the line. This isn’t just an issue for the taxman....
...“Subscription lines make the IRR an even more ridiculously biased metric than it was already,” says Ludovic Phalippou, professor of finance at Oxford Saïd Business School....
...The publication of Professor Ludovic Phalippou’s report on private equity returns (“An Inconvenient Fact: Private Equity Returns & The Billionaire Factory”) has done more to generate selective headlines...
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