IFin Seminar, Petra Vokata - Ohio State University, Fisher College of Business - "Democratizing Private Markets: The Private Equity Performance of Individual Investors"

Speaker: Petra Vokata - Ohio State University, Fisher College of Business

Title:      "Democratizing Private Markets: The Private Equity Performance of Individual Investors"

Date:     November 21, 2024

Ore:        12:25 - 13:40

Room:     PC-04 (Blue Building)

Lugano West Campus

Abstract

Using new data on wealthy investors, we document the expansion of access to private equity funds to individual investors. Individuals primarily gain access through a previously unexplored segment of private equity funds with low minimum commitments and by pooling commitments via wealth managers. Access to private markets is associated with Sharpe ratio gains as private equity investments by individual investors perform similarly to institutional private equity funds and outperform public markets. Our findings demonstrate how increased access to private markets can enhance household portfolio returns.