{"id":8605,"date":"2021-05-20T11:24:32","date_gmt":"2021-05-20T09:24:32","guid":{"rendered":"https:\/\/www.uni.lu\/fr\/events\/how-do-private-equity-fees-vary-across-public-pensions\/"},"modified":"2021-05-20T11:24:32","modified_gmt":"2021-05-20T09:24:32","slug":"how-do-private-equity-fees-vary-across-public-pensions","status":"publish","type":"events","link":"https:\/\/www.uni.lu\/fr\/events\/how-do-private-equity-fees-vary-across-public-pensions\/","title":{"rendered":"How Do Private Equity Fees Vary Across Public Pensions?"},"content":{"rendered":"<section class=\"wp-block-unilux-blocks-free-section section\"><div class=\"container xl:max-w-screen-xl\"><p>The Department of Finance of the University of Luxembourg is pleased to invite you to this seminar with <a href=\"https:\/\/www.gsb.stanford.edu\/faculty-research\/faculty\/juliane-begenau\" target=\"_blank\" title=\"\" rel=\"noopener\">Juliane Begenau<\/a>\u00a0from Stanford University.\u00a0<\/p><strong>Abstract<\/strong><p>We provide evidence that investment fees vary within private equity funds. Net-of-fee return clustering suggests that 70% of funds group investors into two fee-tiers that vary along both fixed and variable components. Managers of venture capital funds and those with high past performance are less likely to tier their investors. Some investors consistently earn higher net-of-fee returns relative to others within their funds. Investor size, experience, and past performance explain some but not all of this effect, suggesting that unobserved traits like negotiation skill or bargaining power materially impact the fees investors pay in private equity.<\/p><p>This event will be hosted online.\u00a0<strong>Please register\u00a0<a href=\"https:\/\/www.eventbrite.co.uk\/e\/df-seminar-juliane-begenau-stanford-university-registration-156060010693\" target=\"_blank\" title=\"\" rel=\"noopener\">via Eventbrite<\/a>.<\/strong><\/p><p>This event is supported by the Luxembourg National Research Fund (19\/14002698)<\/p><figure class=\"wp-block-dev4-reusable-blocks-image  object-fit--contain\">\n    \n<img decoding=\"async\" class=\"wp-block-image unilux-custom-image-block\"\n                alt=\"\"\n            src=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/11\/2024\/01\/quadri_gris_transparent_72ppi_1024x207-2.png\"\n                srcset=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/11\/2024\/01\/quadri_gris_transparent_72ppi_1024x207-2-300x61.png 300w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/11\/2024\/01\/quadri_gris_transparent_72ppi_1024x207-2-768x155.png 768w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/11\/2024\/01\/quadri_gris_transparent_72ppi_1024x207-2.png 1024w\"\n                style=\"object-position: 50.00% 50.00%; font-family: &quot;object-fit: contain; object-position: 50.00% 50.00%;&quot;; aspect-ratio: 16\/9; object-fit: contain; width: 100%;\"\n        loading=\"lazy\"\n\/>    <\/figure><\/div><\/section>","protected":false},"excerpt":{"rendered":"<p>The Department of Finance of the University of Luxembourg is pleased to invite you to this seminar with Juliane Begenau\u00a0from Stanford University.\u00a0<\/p>\n","protected":false},"author":0,"featured_media":8606,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"featured_image_focal_point":[],"show_featured_caption":false,"ulux_newsletter_groups":"","uluxPostTitle":"","uluxPrePostTitle":"","_trash_the_other_posts":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"event_start_date":"2021-06-10 17:00:00","event_end_date":"2021-06-10 18:15:00","event_speaker_name":"Juliane Begenau - Stanford University","event_speaker_link":"","event_is_online":false,"event_location":"Online Event (Webex)","event_street":"","event_location_link":"","event_zip_code":"","event_city":"","event_country":"LU"},"events-topic":[309],"events-type":[],"organisation":[116,101,226],"authorship":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Do Private Equity Fees Vary Across Public Pensions? - Universit\u00e9 du Luxembourg<\/title>\n<meta name=\"description\" content=\"The Department of Finance of the University of Luxembourg is pleased to invite you to this seminar with Juliane Begenau\u00a0from Stanford University.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.uni.lu\/fr\/events\/how-do-private-equity-fees-vary-across-public-pensions\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Do Private Equity Fees Vary Across Public Pensions?\" \/>\n<meta property=\"og:description\" content=\"The Department of Finance of the University of Luxembourg is pleased to invite you to this seminar with Juliane Begenau\u00a0from Stanford University.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.uni.lu\/fr\/events\/how-do-private-equity-fees-vary-across-public-pensions\/\" \/>\n<meta property=\"og:site_name\" content=\"UNI FR\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/uni.lu\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/11\/2026\/03\/03120045\/UNIV_SM-Profile_1600x1600px-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"2560\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Dur\u00e9e de lecture estim\u00e9e\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.uni.lu\/fr\/events\/how-do-private-equity-fees-vary-across-public-pensions\/\",\"url\":\"https:\/\/www.uni.lu\/fr\/events\/how-do-private-equity-fees-vary-across-public-pensions\/\",\"name\":\"How Do Private Equity Fees Vary Across Public Pensions? 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