PitchBook Analyst Note: Surfing Turbulent Cash Flow Waves

A look at cash flow turbulence across primary asset classes

Tracking the ebb and flow of private fund cash flows is pivotal for determining the outlook of an institutional portfolio’s liquidity. For LPs, capital call activity and net cash flows of funds are just as important to allocation planning and portfolio maintenance as the well-documented distribution dearth.  

Our Surfing Turbulent Cash Flow Waves analyst note looks across thousands of funds and analyzes distributions relative to NAVs and capital calls compared to uncalled commitments across asset classes, offering a fuller picture of the LP’s perspective on the changing exit and dealmaking environment.