The annual private markets research conference is a forum to explore the latest research advances in private markets by combining academic and practitioner perspectives. For the sixth edition, the annual private markets research conference will take place 29-30 june 2023 in Lausanne. 

We are pleased to announce our two keynote speakers for this year: Michael S. Weisbach (Ohio State University) and Jessica Jeffers (HEC Paris)

Topics: Risk and performance measurement of private market funds; the economics of private impact investment funds; private fund manager incentives; institutional investor asset allocation; entrepreneurial finance; alternative private investing structures; private equity, private debt and private real asset investing; VC contracting; ESG, TBL, and impact exposures of private market funds; private market exits and alternative routes to liquidity; etc.

Program

Download the program

29TH JUNE
 

• 13:30–13:50      REGISTRATION AND WELCOME COFFEE

• 13:50–14:00      WELCOME ADDRESS

E. Jurczenko, Director of Finance Graduate Programs (EDHEC Business School)

• 14:00–15:30      MASTER CLASS ON ADVANCES IN DATA SCIENCES & THE FUTURE OF PRIVATE MARKETS

L. Phalippou, Professor of Finance (University of Oxford, Said Business School)
 

• 15:30–16:00      BREAK
• 16:00–17:00      INVESTMENT SOLUTIONS SESSION

“Private Markets: A Glass Half-full – Difficult Times Bring Great Investment Opportunities”
Speaker: P. Newsome, Head of Private Equity (Unigestion)
“Investment and Exit Activity in Private equity – Deal Level Analysis”
Speaker: M. Djordjevic, Director (BlackRock-eFront)

• 17:00–17:30      PANEL DISCUSSION

“HOW AI REVOLUTIONIZES PRIVATE COMPANIES AND INVESTING”
Moderator: P. Newsome, Head of Portfolio Management (Unigestion)
Panelists: M. Djordjevic, Director (BlackRock-eFront)
L. Phalippou, Professor of Finance (University of Oxford, Said Business School)
M. Perfetto, Associate, Private Equity (Unigestion)

• 17:30–18:00      BREAK
• 18:00–19:00      KEYNOTE ADDRESS “20 YEARS OF ACADEMIC RESEARCH ON PRIVATE MARKETS: WHAT DID WE LEARN? ”

M. Weisbach, Professor of Finance and W. Kurtz Chair in Finance (Ohio State University)

• 19:00–22:00      EPFL ROLEX LEARNING CENTER COCKTAIL DINNER

 
30TH JUNE
 

• 08:00–08:35      REGISTRATION AND WELCOME COFFEE
• 08:35–08:40      WELCOME ADDRESS

E. Jurczenko, Director of Finance Graduate Programs (EDHEC Business School)

• 08:40–09:30      “PRIVATE EQUITY FUND VALUATION MANAGEMENT DURING FUNDRAISING”

B. Baik (Harvard Business School)
Speaker: B. Baik (Harvard Business School)
Discussant: P. Valta (University of Bern)

• 09:30–10:20      “PRIVATE EQUITY AND VENTURE CAPITAL FUND PERFORMANCE: EVIDENCE FROM A LARGE SAMPLE OF ISRAELI LIMITED PARTNERS” 

Brav A. (Duke University), G. Lakan (Hebrew University) and Y. Yafeh (Hebrew University)
Speaker: Y. Yafeh (Hebrew University)
Discussant: S. Tommar (NEOMA Business School)

• 10:20–10:50      BREAK
• 10:50–11:40      “UNCOVERING THE PUBLIC AND PRIVATE COMPONENTS OF PRIVATE DEBT RETURNS”

P. Böni (Tilburg University) and F. de Roon (Tilburg University)
Speaker: P. Böni P (Tilburg University)
Discussant : R. Füss (St Gallen University and SFI)

• 11:40–12.30      “PRIVATE EQUITY AND GAS EMISSIONS: EVIDENCE FROM ELECTRIC POWER PLANTS”

X. Bai (University of Oregon) and Y. Wu (University of Oregon)
Speaker: Y. Wu (University of Oregon)
Discussant: A. Andonov (University of Amsterdam)

• 12:30–13:15      KEYNOTE ADDRESS “IMPACT INVESTING”

J. Jeffers, Professor of Finance (HEC Paris)

• 13:15–14:45      LUNCH BREAK 
• 14:45–15:35      “THE MARKET OF CEOS: EVIDENCE FROM PRIVATE EQUITY”

P. Gompers (Harvard Business School), S. Kaplan (University of Chicago) and
V. Mukharlyamov (Georgetown University)
Speaker: V. Mukharlyamov (Georgetown University)
Discussant: H. Wagner (Bocconi University)

• 15:35–16:25      “IRREPLACEABLE VENTURE CAPITALISTS”

M. Ewens (Columbia Business School) and D. Sosyura (Arizona State University)
Speaker: M Ewens (Columbia University)
Discussant: F. Celentano (HEC Lausanne and SFI)

• 16:25–16:55      BREAK
• 16:55–17:45      “THE UNICORN PUZZLE“

D. Davydova (EPFL), R. Fahlenbrach (EPFL), and R. Stulz (Ohio State University)
Speaker: D. Davydova (EPFL)
Discussant: T. Tykvova (University of St. Gallen)

• 17:45–17:50      CLOSING ADDRESS

E. Jurczenko, Director of Finance Graduate Programs (EDHEC Business School)
 

Date

June 29-30, 2023

Conference venue

HEC Lausanne, Internef Building, Room 275 (see map on the last page of the program)

Organizing committee

• Serge Darolles, Université Paris Dauphine-PSL
• Theodosios Dimopoulos, HEC Lausanne
• Rüdiger Fahlenbrach, Ecole Polytechnique Fédérale de Lausanne and Swiss Finance Institute
• Emmanuel Jurczenko, EDHEC Business School
• Sara Tommar, NEOMA

Scientific committe

• Gregory Brown, University of North Carolina
• Serge Darolles, Université Paris Dauphine - PSL
• Theodosios Dimopoulos, HEC Lausanne and Swiss Finance Institute
• François Degeorge, Swiss Finance Institute and Università della Svizzera italiana
• Rüdiger Fahlenbrach, EPFL and Swiss Finance Institute
• José-Miguel Gaspar, ESSEC Business School
• Tim Jenkinson, Saïd Business School, University of Oxford
• Emmanuel Jurczenko, EDHEC Business School
• Marie Lambert, HEC Liège, Management School of the University of Liège
• Benoit Leleux, IMD
• Ludovic Phalippou, Saïd Business School, University of Oxford
• David Robinson, Duke University, Fuqua School of Business and NBER
• Morten Sorensen, Tuck School of Business, Dartmouth College 
• Enrique Schroth, EDHEC Business School
• Per Strömberg, Stockholm School of Economics