Where does private equity performance come from? | FTSE Russell Convenes
Greg Brown, Professor of Finance, Kenan Flagler Business School, University of North Carolina (UNC) at Chapel Hill, joins us for our third episode of FTSE Russell Convenes to share his knowledge on private equity markets. A ‘Van and Kay Weatherspoon Distinguished Professor of Finance’, Greg has been an academic researcher, faculty member at UNC for more than 25 years and is also the founder and research director of the Institute for Private Capital.
In his discussion with Indrani De, Head of Global Investment Research at FTSE Russell, Greg begins with the drivers of general outperformance of private equity over public equity, and sources of returns.
The conversation turns to other parts of private markets, and inherent shifts from private equity to private credit and real estate to infrastructure, delving into growth post-financial crisis in the last ten to fifteen years and the different reasons behind it.
Final questions from Indrani, addressed by Greg, include the key differences in the inflation sensitivity of public markets and private markets, and the importance of investability – specifically the differences in economies or diseconomies of scale.
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