The Returns of Private Equity Funds: A Swiss Perspective

• DOI: 10.3905/jpe.2017.20.2.015
• Publication Date: 2017-02-27T15:42:51Z
• Authors: Daniel Steger
• Keywords: Club deal

The author presents private equity fund returns in absolute terms and relative to the public market. study is based on a unique, hand-collected dataset containing 531 funds 25,130 cash flow data points, representing 45% of Swiss pension funds’ investments. Analysis shows cross-sectional mean internal rate return 9% for direct funds, 18% buyout –4% venture 12% funds. Furthermore, have outperformed broader market indexes by 19% over lifetime fund, with being best performing subgroup. <b>TOPICS:</b>Private equity, developed, performance measurement, statistical methods