Retail Investors in Private Assets (RIPA) Working Group

Private Equity · Private Credit · Household Access

Related Papers

These contemporary papers reflect work on the key themes of the working group.

Individual Investors in Private Markets
Democratizing Private Markets: Private Equity Performance of Individual Investors
Balloch, Mainardi, Oh, Vokata
Working Paper (2025)
Investor Expertise and Private Investment Selection
Miller, Yimfor, Zhang
Working Paper (2025)
Vehicles for Retail Access
Liquid Claims on Illiquid Assets: The Economics of Retail Access to Private Markets
Ewens, Faber
Working Paper (2026)
The Fragility of Semi-Liquid Private Credit Funds
Fang, Goldstein, Zeng
NBER Working Paper 35385 (2026)
Democratizing Illiquid Assets: Liquidity Transformation and Performance in Interval Funds
Pegoraro, Shive, Zambrana
Working Paper (2025)
The Growth of Private Lending and Retail Access to Alternative Investments
Robinson, Wallskog
Working Paper (2025)
Exposure Without Access
Private Credit’s State Backstop: How Private Equity Socializes Risk Through Insurers
Granato, Drall
Working Paper (2026)
Buying from the Family: Private Equity-Owned Insurers and Their Affiliated Investments
Huber, Huber, Shan, Zhu
Working Paper (2026)
Equilibrium Effects
Democratizing Private Markets: Equilibrium Predictions
Pástor, Stambaugh, Taylor
Working Paper (2026)