Should Investors Care Where Private Equity Managers Went To School?
Journal
Review of Corporate Finance 2
Series
School of Finance Working Paper Series
Type
forthcoming
Date Issued
2022
Author(s)
Abstract
In this paper, we investigate whether the educational background of private equity managers, which represents an important part of their human capital, impacts fund performance. In particular, we explore three potential channels of how their educational background may influence fund performance: (i) institutional quality, (ii) individual performance, and (iii) academic variety. We find that a combination of top-tier education and work experience identifies individual performance in the management team. In addition, academic variety, in particular among graduates of high-ranked universities, rather than uniform institutional quality, is an important return driver.
Language
English
Keywords
Buyout Funds
Fund Teams
Education
Fund Performance
University
HSG Classification
contribution to scientific community
HSG Profile Area
SOF - System-wide Risk in the Financial System
Refereed
Yes
Pages
49
Subject(s)
Contact Email Address
roland.fuess@unisg.ch
Eprints ID
254709
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20220114_Should Investors_Care_WherePE_Managers_Went_To_School.pdf
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