Private Equity/Venture Capital

Review of Market Performance: Fiscal Year 2023

Risk assets enjoyed mostly positive returns in fiscal year 2023. Equities rebounded as fears over the severity of a possible recession moderated. Emerging markets equities lagged developed markets as the pace of reopening in China disappointed. Bond performance improved as credit assets posted positive returns but developed markets sovereign bonds struggled. Real assets suffered due to higher interest rates and slowing demand.

Global ex US PE/VC Benchmark Commentary: Calendar Year 2022

In 2022, the Cambridge Associates LLC Developed Markets ex US Private Equity and Venture Capital Index returned -11.1% in USD terms, marking a sharp reversal from two strong years in 2020 and 2021. Performing slightly better than its developed markets counterpart, the Cambridge Associates LLC Emerging Markets Private Equity and Venture Capital Index returned -8.1% for the year in USD terms, but it also suffered a substantial reversal from strong performance in recent years.

VantagePoint: Investing in a Low-Carbon Future

The energy transition involves a complex and dynamic set of changes in the way we do just about everything. While significant progress has been made in some quarters, considerable capital will be needed to fund the massive investment required over coming decades. We expect investors with a deliberate and thoughtful plan to invest in the transition across the risk/reward spectrum will be rewarded.

Liquidity Hazard Planning for Families of Wealth

Consistently revisiting potential liquidity risk is important work for family investors. To manage liquidity risk, families should employ best practices, monitoring illiquid investments, spending needs, and currency considerations. By doing so, they can guard against unanticipated stressors and remain on track to achieve their investment goals.

Streamlined Private Investing: Uncovering Growth in Secondaries

Over the years, as institutional investors have implemented newer and more dynamic private markets strategies in their portfolios in an effort to boost investment returns, they have also faced a timing conundrum. Secondaries have the potential to help address this challenge. We review their potential advantages and show how they can be broadly used as an effective portfolio management tool for investors of all types and sizes.

Seven Things Investors Should Know About the Private Equity Secondary Market

The private equity secondary market can offer investors efficiency and access that is unavailable elsewhere in the private investment universe. We believe partnering with a knowledgeable and experienced investment team is an important part of finding success within this dynamic and evolving asset class, and we answer seven key questions reviewing private equity secondary funds and their benefits.