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Ludovic Phalippou

Ludovic Headshot

Ludovic Phalippou has been a significant contributor to CFA Institute research content for nearly 25 years. He has been a keynote lecturer at CFA Institute events around the world and has served on the editorial board of the Financial Analysts Journal. As well, he is the author of pieces for the Research Foundation Literature Survey Series, CFA Conference Proceedings Quarterly, and Enterprising Investor and has published several articles in the Financial Analysts Journal.

Phalippou is a professor of financial economics at the University of Oxford Said Business School. He specializes in areas of private equity of interest to investors and potential investors, such as risk management, legal and governance issues, liquidity, and measurement of returns. He authored the book Private Equity Laid Bare (2017) and hosts a podcast series with the same name. In 2014, he was named one of “The 40 Most Outstanding Business School Profs Under 40 in the World” by the business education website Poets&Quants. RealDeals magazine listed him in 2016 as one of the 20 most influential individuals in private equity in Europe. His research papers have been widely cited in academia, in the press, in practitioner publications, and in regulatory circles. His work has been published in leading academic journals in financial economics, including the Journal of Finance, Review of Financial Studies, and Journal of Financial Economics. In 2019, he was awarded both the Q Group Jack Treynor Prize for best paper and the ICPM Research Award.

Phalippou has strong links with senior practitioners in the industry; he worked with several large institutional investors on their private equity investment decisions and benchmarking systems, including Norway sovereign wealth fund, Dutch pension funds (APG, ABP, PGGM), and government bodies overseeing public pension fund systems (Dutch Ministry of Finance, Pennsylvania Treasury). He acted as head of private market research at Blackrock Investment Institute, where he developed a model to forecast private market returns for portfolio optimization programs. Phalippou also developed, in collaboration with JP Morgan, an innovative listed private equity index that uses big data and a natural language processor. At Oxford, he teaches asset management, valuation in private markets, and private equity for senior executives and master’s students (MBA, MFE, MLF, EMBA). Phalippou has taught and codeveloped a variety of executive education courses, including customized programs for leading consulting companies and asset managers and a popular online executive education program in collaboration with GetSmarter, the Oxford Private Markets Investments Programme.

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