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Pensions & Investments

Weekly Summary

One of the most prevalent complaints within the private-equity space is the dearth of reliable data. Harvard Business School professor Josh Lerner, with funding from the Ewing Kauffman Foundation, is working to change that with the creation of the Private Capital Research Institute (PCRI). The organization made a breakthrough announcement naming the first round of 15 leading private-equity firms that have committed to contribute transaction and fund-level information to the PCRI database. Top firms include The Carlyle Group; Clayton, Dubilier & Rice; and Kohlberg Kravis Roberts.

The PCRI will secure the data behind a firewall at a separate research institution. Only academics will have access to the data after an approval process. Furthermore, researchers will be allowed to see only empirical results on-site. Data, which will not be available for public consumption, will be made available in an anonymous form.

Besides top-tier private-equity firms, other data providers such as the Institutional Limited Partners Association are offering support to PCRI.

 
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