• Capitalism on steroids

  • Jul 16 2024
  • Length: 31 mins
  • Podcast

Capitalism on steroids

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  • Summary

  • Supporters of the $10trn private equity industry say it fuels economic growth and delivers leaner, better-performing companies.

    One leading critic of the sector is Ludovic Phalippou, who says that the industry routinely overstates its financial performance. And, he says, private equity funds charge a whopping 6-7% a year in fees, wiping out any potential benefits to investors.

    In the latest New Money Review podcast, I interview Phalippou, who is professor of financial economics at Oxford University. We cover:

    • What is private equity?
    • How big is the private equity market?
    • Why have private equity assets grown fivefold in a decade?
    • What is the economic footprint of private equity?
    • How should we measure private equity funds’ performance?
    • How honest are private equity firms in reporting performance?
    • Do private equity funds have higher returns than public equity funds?
    • What do private equity funds cost?
    • Agency conflicts in the private equity industry
    • The impact of recent interest rate rises on private equity
    • The need for standardised reporting of private equity performance.
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