Our global private equity operating metrics analysis highlights the key levers and value drivers in private equity, and explores a risk and return comparison between private equity and public equity. It includes dedicated Europe and Asia analyses as well as regional comparisons.
Our 2024 US private equity operating metrics analysis highlights the key levers and value drivers in private equity, and explores a risk and return comparison between private equity and public equity.
In the first half of 2025, US private equity continued its run of low single-digit quarterly returns, while US venture capital extended its recovery from a tough stretch of flat performance.
Private equity delivered stronger results than venture capital in global ex US markets during the first half of 2025, mirroring the trend seen in the United States,
US President Donald Trump signed an executive order on August 7 directing the Department of Labor and SEC to issue guidance on the inclusion of private market assets in 401(k) plans, marking a pivotal step toward unlocking a major new source of demand for private assets and substantially accelerating the democratization of the asset class.
With a backdrop of strong, yet concentrated public markets, US private equity and venture capital posted mid to high single-digit returns in 2024, as venture capital bounced back from its two-year streak (2022–23) of negative returns.
Like in the United States, private equity outperformed venture capital in ex US markets in 2024, and with a strong US dollar, returns were much better when measured in euros.
Our global private equity operating metrics analysis highlights the key levers and value drivers in private equity, and explores a risk and return comparison between private equity and public equity. It includes dedicated Europe and Asia analyses as well as regional comparisons.
Our US private equity operating metrics analysis highlights the key levers and value drivers in private equity, and explores a risk and return comparison between private equity and public equity.
In the first half of 2024, returns from US private equity and venture capital were modest. Both private asset classes have struggled to keep up with the public indexes over the past three years, but have performed well vis-à-vis public peers over longer time periods.