2023 Outlook: Private Investments
We expect the cyclical backdrop to impact private equity and venture capital returns, ultimately influencing recently invested vintages the most. That said, we think the 2023 vintage could perform well.
Authored by: Caryn Slotsky
US Private Equity Looking Back, Looking Forward: Ten Years of CA Operating Metrics
Reflecting on the last ten years of analyses, we have seen the industry continue to evolve, from Private Equity 1.0 to 2.0, marked by increased sophistication in every aspect of finding, analyzing, and operating companies. With this evolution, private equity has also grown in importance and delivered strong absolute and relative returns. Our analyses have highlighted four key themes: private equity outperformed public markets, the tech sector was a clear winner, top-line growth was a driver of superior returns, and small-cap companies continue to demonstrate promise.
Global ex US PE/VC Benchmark Commentary: Calendar Year 2021
In 2021, the Cambridge Associates LLC Developed Markets (ex US) Private Equity and Venture Capital (PE/ VC) Index returned 33.4% in USD terms, equaling its strong performance in 2020.
US PE/VC Benchmark Commentary: Calendar Year 2021
In 2021, the US private equity and venture capital indexes posted their highest calendar year returns since 1999, potentially signaling a market peak and the end of over a decade of steady growth. For the year, the Cambridge Associates LLC US Private Equity Index® returned 41.3% and the Cambridge Associates LLC US Venture Capital Index® gained 54.6%.
Private Company Operating Metrics: Global Analysis
Our annual analysis comparing private equity globally with public peers.
Global ex US PE/VC Benchmark Commentary: First Half 2021
In the first six months of 2021, according to Cambridge Associates indexes, private equity and venture capital in the developed markets outperformed those in emerging markets.
US PE/VC Benchmark Commentary: First Half 2021
In the first half of 2021, US private equity and venture capital returns continued the torrid pace that started in second quarter 2020.
Under the Microscope: Private vs Public Company Operating Metrics for US Companies
This analysis includes our observations on key metrics by which private equity managers execute their strategy.
Global ex US PE/VC Benchmark Commentary: Calendar Year 2020
In 2020, the Cambridge Associates LLC Developed Markets (ex US) Private Equity and Venture Capital Index® returned 33.1% in USD terms.
US PE/VC Benchmark Commentary: Calendar Year 2020
In 2020, the US private equity and venture capital (PE/VC) indexes shook off first quarter declines to enjoy one of their best years ever, with returns in each quarter surpassing the previous one; for the year, the Cambridge Associates LLC US Private Equity Index® returned 27.8% and the Cambridge Associates LLC US Venture Capital Index® gained 50.1%. For PE, 2020 was the fourth-best year and for VC, it was the second.