2016 Private Equity Research Consortium Conference!

Thursday, November 10, 2016


Thursday, November 10, 2016

5:30pm – 9:00pm
Welcome Reception (DuBose House) & Dinner (Meadowmont Grill, McLean Hall)
Session Chair: Greg Brown, UNC-Chapel Hill

Spreading Sunshine: Fair Value Accounting and Information Production
(Read the paper)
    Nicholas Crain, Vanderbilt University
    Kelvin Law, Nanyang Technological University

Has Persistence Persisted in Private Equity?
(Read the paper)
    Bob Harris, University of Virginia
    Tim Jenkinson, University of Oxford
    Steven N. Kaplan, University of Chicago
    Rüdiger Stucke, Warburg Pincus

Shuttles to Courtyard by Marriott departing following dinner
Sponsored by Plexus Capital

Friday, November 11, 2016

7:30am – 8:00am
Buffet Breakfast
Meadowmont Grill or outside Classroom 108 starting at 7:45

Shuttles to Rizzo from Courtyard by Marriott departing at 7:15am and 7:30am

8:15am – 10:00am
Session 1: Partnership Dynamics
Classroom 108, Loudermilk Hall
Session Chair: Bob Harris, University of Virginia

Pay Now or Pay Later?: The Economics within the Private Equity Partnership
(Read the paper)
    Victoria Ivashina, Harvard University
    Josh Lerner, Harvard University
Impact Investing
(Read the paper)
    Brad Barber, University of California, Davis
    Adair Morse, University of California, Berkeley
    Ayako Yasuda, University of California, Davis
Pension Fund Board Composition and Investment Performance: Evidence from Private Equity
(Read the paper)
    Aleksandar Andonov, Erasmus University
    Yael Hochberg, Rice University
    Joshua Rauh, Stanford University

10:20am – 11:10am
Session 2: Panel Discussion - Credit Funds
Classroom 108, Loudermilk Hall
Moderator: Tobias True, Adams Street Partners
    Jason Cunningham, Eaglehill Advisors
    Mike Elio, StepStone
    Austin Long, Alignment Capital Group
    Craig Nickels, Abu Dhabi Investment Authority (ADIA)

11:30am – 1:00pm
Meadowmont Grill McLean Hall
Session Chair: Greg Brown, UNC-Chapel Hill

Burgiss Data: New Classification System & General Update
(Academic Research Using Burgiss Data)
    James Bachman, The Burgiss Group
How Do Venture Capitalists Make Decisions?
(Read the paper)
    Paul Gompers, Harvard University
    Will Gornall, University of British Columbia
    Steven N. Kaplan, University of Chicago
    Ilya A. Strebulaev, Stanford University

Sponsored by Landmark Partners
1:15pm – 2:30pm
Session 3: Performance
Classroom 108, Loudermilk Hall
Session Chair: David Robinson, Duke University

A Bottom-Up Approach to the Risk-Adjusted Performance of the Buyout Fund Market
(Read the paper)
    Jean-François L’Her, ADIA
    Rossitsa Stoyanova, CPPIB
    Kathryn Shaw, CPPIB
    William Scott, CPPIB
    Charissa Lai, CPPIB
Raising Funds on Performance: Are Private Equity Returns Too Good to Be True?
(Read the paper)
    Niklas Hüther, Indiana University

2:45pm – 4:00pm
Session 4: Friction Costs
Classroom 108, Loudermilk Hall
Session Chair: Tim Jenkinson, University of Oxford

Private Equity Portfolio Company Fees
(Read the paper)
    Ludovic Phalippou, University of Oxford
    Christian Rauch, Grove House Ratings and Advisory
    Marc Umber, High-Tech Gründerfonds
The Liquidity Cost of Private Equity Investments: Evidence from Secondary Market Transactions
(Read the paper)
    Taylor Nadauld, Brigham Young University
    Berk Sensoy, Ohio State University
    Keith Vorkink, Brigham Young University
    Michael Weisbach, Ohio State University

Closing Remarks and Adjourn



Generous support for the conference has been provided by: