Should Investors Care Where Private Equity Managers Went to School?

Florian Fuchs, Roland Füss, Tim Jenkinson and Stefan Morkoetter

Review of Corporate Finance, 2022, vol. 2, issue 3, 451-49

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.

Keywords: Buyout funds; fund teams; education; fund performance; university (search for similar items in EconPapers)
JEL-codes: G11 G15 G24 G34 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:now:jnlrcf:114.00000021

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