Peter Cornelius

Global Head of Research and Strategy, AlpInvest Partners

Leading authority on competition in the global economy.

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Biography

Peter Cornelius is one of the world’s leading economists and experts on global competitiveness. Few people have held as many senior positions in the world’s prestigious economic institutions.

Peter has been Group Chief Economist for Royal Dutch Shell. He also was Chief Economist and Director of the World Economic Forum's Global Competitiveness Programme, where he edited the Global Competitiveness Report and various other studies on economic growth and development. He was a Senior Economist of the International Monetary Fund, a former Staff Economist at the German Council of Economic Advisors, and a consultant to UNIDO and the EU.

Peter is the editor, with Bruce Kogut, of Corporate Governance and Capital Flows in a Global Economy, sponsored by the WEF, INSEAD and the Wharton School of Business—a must-read for anyone interested in financial crises, international risk management and global competitiveness. He is the author of a book on finance and private equity titled International Investments in Private Equity: Asset Allocation, Markets, and Industry Structure. His newest book, Mastering Illiquidity, provides a clear, accessible overview of illiquid fund investments, focusing on what the main risks of these asset classes are and how to measure those risks in today's regulatory environment.

Peter Cornelius currently is Global Head of Research and Strategy for AlpInvest Partners, where he analyzes the economic and financial environment for private equity markets and the implications of AlpInvest's strategic asset allocations.

A frequent commentator in the international media on global economic developments and financial markets, Peter has published widely in leading academic journals. He has a GCS from the London School of Economics. He is a frequent keynote speaker and moderator at leading private equity events.

Credentials

  • Global Head of Research and Strategy, AlpInvest Partners
  • Chief Economist, Royal Dutch/Shell Group
  • Chairman of the working group on risk management of the European Private Equity and Venture Capital Association
  • Chairman of the 2011 EVCA Investor Forum
  • Editorial board of the Review of Private Equity
  • Visiting professor, Vlerick Leuven Gent Management School
  • Visiting Scholar at Harvard University, 1999-2000, teaching at the Harvard Institute for International Development
  • PhD in economics from the Universty of Goettingen
  • Former Chief Economist of the World Economic Forum; headed its Global Competitiveness Programme and edited the Global Competitiveness Report
  • Former Senior Economist, International Monetary Fund
  • Lecturer, European School for Management and Technology, Berlin
  • Former Staff Economist, German Council of Economic Advisors
  • Co-editor, Corporate Governance and Capital Flows in a Global Economy

Books

Mastering Illiquidity

Risk management for portfolios of limited partnership funds

Thomas Meyer, Peter Cornelius, Christian Diller and Didier Guennoc

Arms investors with powerful new tools for measuring and managing the risks associated with the various illiquid asset classes

With risk-free interest rates and risk premiums at record lows, many investors are turning to illiquid assets, such as real estate, private equity, infrastructure and timber, in search of superior returns and greater portfolio diversity. But as many analysts, investors and wealth managers are discovering, such investments bring with them a unique set of risks that cannot be measured by standard asset allocation models. Written by a dream team of globally renowned experts in the field, this book provides a clear, accessible overview of illiquid fund investments, focusing on what the main risks of these asset classes are and how to measure those risks in today's regulatory environment.

Provides solutions for institutional investors in need of guidance in today's regulatory environment

Offers detailed descriptions of risk measurement in illiquid asset classes, illustrated with real life case studies

Helps you to develop reliable risk management tools while complying with the regulations designed to contain the individual and systemic risks arising from illiquid investments

Features real-life case studies that capture an array of risk management scenarios you are likely to encounter

Wiley; 1 edition (May 28, 2013)

International Investments in Private Equity

Asset Allocation, Markets, and Industry Structure

Peter Cornelius

How can private equity investors exploit investment opportunities in foreign markets? Peter Cornelius uses a proprietary database to investigate and describe private equity markets worldwide, revealing their levels of integration, their risks, and the ways that investors can mitigate those risks. In three major sections that concentrate on the risk and return profile of private equity, the growth dynamics of discrete markets and geographies, and opportunities for private equity investments, he offers hard-to-find analyses that fill knowledge gaps about foreign markets. Observing that despite the progressive dismantling of barriers investors are still home-biased, he demonstrates that a methodical approach to understanding foreign private equity markets can take advantage of the macroeconomic and structural factors that drive supply and demand dynamics in individual markets.

  • Foreword by Josh Lerner
  • Teaches readers how to investigate and analyze foreign private equity markets
  • Forecasts private equity investment opportunities via macroeconomic and structural factors in individual markets
  • Draws on data from a proprietary database covering 250 buyout and VC funds and 7,000 portfolio companies.

Academic Press; 1 edition (January 29, 2011)

Corporate Governance and Capital Flows in a Global Economy

Peter K. Cornelius and Robert Kogut

The most important challenge of the early part of the 21st century is fostering the prospects for improvement in the quality of life of citizens in the poorest countries in the world. Investment is a critical ingredient to meeting this goal and over the past decade the private sector has become the primary source of funds for emerging-market economies; only the poorest countries receive the plurality of their funds from official sources. The challenge of addressing the poverty that afflicts billions of people will require the flow of private international capital. Yet the past 20 years have witnessed several major financial crises, with devastating social and economic consequences. Solid firms have gone bankrupt, savings have been lost, and unemployment has soared.

This book explores how improved corporate governance of firms and national systems of governance can help to secure an environment that encourages capital flows into poor and emerging markets. Since 1989, hundreds of thousands of firms have been created or transformed in the former socialist countries; China is in the midst of a historical transformation toward private enterprise. What are the guidelines for corporate governance at this epochal juncture?

Corporate Governance and Capital Flows in a Global Economy answers these questions with best practices that will help to strengthen and protect investors, companies and the economies they invest in. It addresses the issues faced by employees, early investors and minority shareholders, by multinational corporations dealing with capital flows, and the role of banks, law and governance. And it offers several close studies of specific cases, both of companies and of countries.

Topics

Peter tailors each presentation to the needs of his audience and is not limited to the topics we have listed below. These are subjects that have proven valuable to customers in the past and are meant only to suggest his range and interests. Please ask us about any subject that interests you; we are sure that we can accommodate you.

The Global Economy

Financial crises

International Risk Management