One thing the finance industry is good at is marketing new products. Although private equity first began to gain traction in the 1970s, it continues to be promoted today, supported by studies that show that it provides returns several per cent higher than investing in public equity markets. Enter Ludovic Phalippou who has spent his career getting to the bottom of how to measure the true returns that private equity delivers to investors, identifying the real winners from such investments. Indeed, the convoluted nature of the product and the numerous issues related ...