Private equity at a crossroads

LUDOVIC Phalippou, who holds a doctorate in financial economics from Oxford University, has become one of the most closely followed and debated voices in private equity. His articles in Enterprising Investor were among the most-read in 2024, and I was pleased to sit down with him for a wide-ranging conversation.

Known for his sharp analysis and independent perspective, he has long challenged the industry’s dominant narratives, and did so with his usual clarity and candour during our conversation.

In our discussion, which aired on May 21 on YouTube, Phalippou revisited several themes that have defined his research: performance reporting, governance, incentives and transparency. But we also explored how the current macro environment and the changing investor base are placing new pressures on an already-complex system. The result is a thought-provoking look at where private equity stands today, and where it may be heading.