Global Fund Performance Report (with preliminary Q4 2023 data)

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Private equity, debt pull fund performance further into positive territory  

Some private investment funds found firmer footing at the end of Q3 2023, but the story varied significantly by strategy, data from our latest Global Fund Performance Report shows.  

• The good: Private equity led with a 10.4% one-year IRR, followed by private debt at 9.8%. Real assets notched 8.4% in the period, helped by steady returns in infrastructure funds. 

• The bad: Venture capital remained a laggard with a -7.7% one-year IRR as the IPO market stayed quiet. Real estate recorded a -2.6% return, hurt by distress in the office and multifamily sectors. Fund of funds vehicles, whose performance tends to trail behind other strategies by a quarter or two, came in at -2.1%.