Who we are

Greg Brown’s research centers on alternative investments, including hedge funds and private equity funds. He also is a leading expert on financial risk and the use of derivative contracts as risk management tools.

He is the founder and research director of the Institute for Private Capital, faculty director of the Hodges Scholars Program and a member of the Private Equity Research Consortium (PERC) advisory board.

Dr. Brown served as the executive director of the Kenan Institute of Private Enterprise from 2015-2023.

His research has been published in leading academic and practitioner finance journals, including The Journal of Finance, The Journal of Financial Economics, The Review of Financial Studies, The Journal of Derivatives, The Journal of Portfolio Management and The Financial Analyst Journal. He serves on the editorial board of the Journal of Alternative Investments.

Dr. Brown serves on the board of directors of the Chartered Alternative Investment Analyst (CAIA) Association.

He previously served as director of research for Amundi Smith Breeden, a global asset management firm specializing in fixed income investments. He has served as a consultant on financial risk and portfolio management for money management firms, the U.S. government, non-profits and Fortune 500 companies.

Prior to joining UNC Kenan-Flagler, he worked at the board of governors of the Federal Reserve System in the division of research and statistics. He also worked in artist relations for a subsidiary of Capitol Records.

He received his PhD in finance from the University of Texas at Austin and his BS with honors in physics and economics from Duke University.

gregwbrown@unc.edu

TJ Carlson is the Chief Investment Officer for the Missouri State Employees’ Retirement System. TJ has served in senior investment leadership positions for over 20 years, including 15 years as a public pension system CIO. He was most recently with the Texas Municipal Retirement System (TMRS), but has also previously served as the CIO for the West Virginia Investment Management Board, Marshfield Clinic and the Kentucky Retirement System. He serves on several prominent investment industry boards and has presented at many public pension-related conferences on various investments topics, and was named Institutional Investor magazine’s CIO of the Year in 2018.

Prior to beginning his career in the public sector, Mr. Carlson served as an infantry sergeant and squad leader in the United States Marine Corps and Reserves.

He holds an MBA from Drake University and a B.A. in mass communications from Grand View College. He is also a Chartered Alternative Investment Analyst and Certified Treasury Professional.

Keith Crouch oversees MSCI’s private-capital indexes and related datasets. Previously, he led the data product at Burgiss, which MSCI acquired in 2023. Before then, he was an investment banking analyst at RBC Capital Markets where he focused on bank mergers and acquisitions. Keith holds a bachelor’s degree in business administration from Montclair State University, serves on the advisory board for the Private Equity Research Consortium and is a CFA® Charterholder.