Exit Stage Right: Private Equity’s Path Back to Liquidity
Exit Stage Right: Private Equity’s Path Back to Liquidity The private equity market has undergone a dramatic transformation over the past several years. Following the industry’s boom in 2021—fueled by cheap debt, abundant liquidity, and a surge in deal activity following hopes that the worst of the global pandemic was past—rising interest rates and tightening […]
Do First-Time Funds Warrant a “Flight to Safety?” Evidence from PE and VC
Do First-Time Funds Warrant a “Flight to Safety?” Evidence from PE and VC Amid a broader private markets slowdown, heightened uncertainty has prompted LPs to shift capital toward established managers in a “flight to safety,” posing fundraising challenges for first-time funds. First-time private equity (PE) funds’ share of total PE fundraising fell from 5.9% in […]
Understanding Performance Benchmarking
One of the most vexing questions in private equity is the assessment of investment returns. To extract a meaningful answer regarding its performance, a private equity group must make a number of decisions about methodology and the inclusion and exclusion of data—decisions that limited partners and consultants alike often second-guess. One might think that the […]