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An Inconvenient Fact: Private Equity Returns and the Billionaire Factory

Ludovic Phalippou
The Journal of Investing December 2020, 30 (1) 11-39; DOI: https://doi.org/10.3905/joi.2020.1.153
Ludovic Phalippou
is professor of financial economics in the Saïd Business School at the University of Oxford in Oxford, UK
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The Journal of Investing: 30 (1)
The Journal of Investing
Vol. 30, Issue 1
December 2020
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An Inconvenient Fact: Private Equity Returns and the Billionaire Factory
Ludovic Phalippou
The Journal of Investing Nov 2020, 30 (1) 11-39; DOI: 10.3905/joi.2020.1.153

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An Inconvenient Fact: Private Equity Returns and the Billionaire Factory
Ludovic Phalippou
The Journal of Investing Nov 2020, 30 (1) 11-39; DOI: 10.3905/joi.2020.1.153
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  • Article
    • Abstract
    • THE “BEST” LEVERAGED BUYOUT OF ALL TIMES: HILTON HOTELS
    • BLACKSTONE REBUTTAL ON THE BENCHMARKING OF THE HILTON LBO
    • ANALYSIS OF OVERALL PE FUND-LEVEL PERFORMANCE
    • ESTIMATING CARRIED INTEREST (CARRY): BURGISS DATA
    • THE BILLIONAIRES
    • ANALYSIS OF PUBLIC PENSION PLAN PERFORMANCE IN PE
    • YALE ENDOWMENT: THE MAKING OF A SUPERSTAR
    • THE FULL EXPERIENCE OF ONE INSTITUTIONAL INVESTOR IN ONE LARGE 2006 VINTAGE LBO FUND
    • ANALYSIS OF PRIVATE EQUITY FIRM LEVEL PERFORMANCE: THE BIG FOUR
    • WHY DO INVESTORS NOT SEE IT THIS WAY?
    • CONCLUSION
    • ADDITIONAL READING
    • APPENDIX 1
    • APPENDIX 2
    • APPENDIX 3
    • APPENDIX 4
    • APPENDIX 5
    • ENDNOTES
    • REFERENCES
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