According to US performance numbers for 2003 released by Thomson Venture Economics and the National Venture Capital Association, one-year returns for the entire private equity asset class came in at a healthy 18.3 percent. Buyouts posted a 24.1 percent year-end result, and venture capital jumped back in the black with 8.10 percent. After three years of negative returns, acquisition and exit markets are finally strengthening, with a marked revival in initial public offerings that up until recently had been virtually closed off to entrepreneurs and private equity investors.
INVESTMENT HORIZON PERFORMANCE THROUGH 12/31/2003
|Fund Type||1 Yr||3 Yr||5 Yr||10 Yr||20 Yr|
|Later Stage VC||25.4||-18.8||3.5||17.0||13.8|
|All Private Equity||18.3||-7.0||6.8||12.7||13.6|
|S & P 500||26.4||-5.6||-2.0||9.1||12.9|