The Future of Private Markets

6 Pages Posted: 1 May 2018 Last revised: 14 Jul 2018

See all articles by Ludovic Phalippou

Ludovic Phalippou

University of Oxford - Said Business School; University of Oxford - Oxford-Man Institute of Quantitative Finance

Date Written: June 30, 2018

Abstract

Asset owners derive little benefit from the continuous trading of capital claims offered by public markets, and the number of listed companies is decreasing. However, private markets are not as efficient and delegating investment management in private markets is challenging due to inherently strong agency conflicts, and minimal regulatory protection. Insourcing private market investment capacities is a solution (a.k.a. the Canadian model), but it presents some often overlooked challenges. Alternative solutions include private market platforms controlled by multiple asset owners.

Keywords: private equity, corporate governance, regulation, private markets

Suggested Citation

Phalippou, Ludovic, The Future of Private Markets (June 30, 2018). Available at SSRN: https://ssrn.com/abstract=3170928 or http://dx.doi.org/10.2139/ssrn.3170928

Ludovic Phalippou (Contact Author)

University of Oxford - Said Business School ( email )

Park End Street
Oxford, OX1 1HP
Great Britain

University of Oxford - Oxford-Man Institute of Quantitative Finance ( email )

Eagle House
Walton Well Road
Oxford, Oxfordshire OX2 6ED
United Kingdom

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