Venture capital funds posted a horizon IRR of 10.5% during the third quarter of 2020, the best figure for any major private market strategy, topping a return of 9.8% for private equity. PitchBook's latest Global Fund Performance Report takes a close look at the ways those figures compare with other major private market strategies—and how they compare with VC and PE fund performance on much longer horizons. Key takeaways include:
- Across all strategies, private capital funds recorded a 6.8% return in Q3, compared with 4.4% on a one-year horizon.
- In terms of returns, real assets funds have lagged behind other private strategies over the past decade.
- Still, each strategy has posted positive results over three-, five- and 10-year horizons.