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investment performance

An illustration of two dice
In the second part of our four-part series on private equity metrics, PEI examines how benchmarks are gamed from two different, relatively simple angles.
CalSTRS headquarters
A lower annual pacing plan would lead to a reduction in co-investment opportunities and preferential treatment from GPs, according to November investment committee documents.
A tougher deal environment has made it challenging to consummate deals, and the quarter was a ‘low watermark’ for realisations, said co-chief executive Kewsong Lee.
Crowded market
Chinese private equity returns have been impacted by intense competition for technology assets across the Asia-Pacific markets.
Small- and mid-cap funds have been alpha generators for the pension system's PE portfolio, according to chief investment officer Farouki Majeed.
'Parts of the legacy portfolio do not have a prospect of generating a return commensurate with the risk and the illiquidity entailed, and may not provide a return at all,' CIO Narv Narvekar wrote.
Moscow, Russia
Its first fund, a 2008-vintage, still has four remaining assets and is operating at 0.8x gross total value, according to a source with knowledge of the matter.
Stephen Schwarzman
On the Q3 earnings call, the co-founder highlighted portfolio company hiring and investment returns at the firm, whose assets under management have hit a record $554bn.
eFront research
The average total-value-to-paid-in multiple of active LBO funds hit 1.43x in the second quarter of this year – the lowest point in three years, according to eFront.
Funds I and II generated huge loss ratios but changed strategy Fund III onwards brought the ratio to zero.

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