PE IRRs down two quarters

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Following a stalwart 2021, global PE fund returns fell swiftly in 2022, according to PitchBook’s Global Fund Performance Report. While Q1 remained positive, Q2 dipped into negative territory at -2.4%, and our preliminary Q3 numbers show another negative reading at -0.6%. That would mark the first two negative consecutive quarters since 2009. Private equity isn’t the only asset class struggling right now, as some public market indexes were down double digits in the same period—the MSCI World Index was -17.7% last year. Overall the asset class is still beating the public markets, even if it’s not in the percentages LPs would prefer.

(Past performance is no guarantee of future results.)