Q&A: HEC's Oliver Gottschalg
Oliver Gottschalg, professor at HEC School of Management and head of research at PERACS, a quantitative analytics provider to the PE industry, explains why IRR is not the best judge of performance
Q: You have developed a performance assessment system - PERACS - to replace IRR. What is wrong with IRR? A: IRR is polluted by two things. First, was the manager lucky or unlucky in catching a good macro...
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