Review of Market Performance: Calendar Year 2024
Most risk assets enjoyed strong returns in the calendar year (CY) ended December 31, 2024. US equities led on better-than-expected economic data and AI-related growth.
Private Equity/Venture Capital
Private Company Operating Metrics: Global Analysis
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.
Under the Microscope: Private vs Public Company Operating Metrics for US Companies
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.
US PE/VC Benchmark Commentary: First Half 2024
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.
Global ex US PE/VC Benchmark Commentary: First Half 2024
Private equity (PE) outperformed venture capital (VC) in global ex US markets in the first half of 2024, just as it did in the United States, and while the global ex US PE/VC indexes have historically outperformed their public market counterparts, the most recent three years stand out as an exception.
2025 Outlook: Private Equity & Venture Capital
We expect private investment performance to improve, as the impact from overinvestment in 2021–22 recedes. The asset class’s long-term performance should continue to attract individual investors and managers are creating pathways for them to more easily access opportunities. While M&A and IPO exit opportunities may improve, we believe the importance of continuation vehicles as an exit path will grow. In Asia, we expect Japanese buyout and Chinese venture capital transaction activity to increase.
Asia Insights: Seeking Stable Returns
With the global economy showing signs of cooling and Chinese economic momentum remaining weak, the outlook for Asian markets is increasingly mixed.
Would US Private Capital Flows into Climate Solutions Remain Strong in a Second Trump Administration?
Yes, we believe that private investment in climate solutions would continue apace in a second Trump administration, given strong demand for clean energy, supportive and resilient US government policies, and robust investment opportunities that will continue to be attractive to many investors.
Private Investment Fund Terms: Fees and Distribution Waterfall
This inaugural private investment fund terms publication highlights terms such as management fee, transaction fee offset, distribution waterfall, and GP clawback based on activity from 2018–22, The proprietary data found in this publication will help to keep clients well-informed about marketplace commonalities regarding these terms.
Review of Market Performance: Fiscal Year 2024
Most risk assets enjoyed strong returns in fiscal year ended June 2024. Developed markets equities led on better-than-expected economic data and the anticipation that central banks would begin easing monetary policies.