Comparing performance persistence between buyout and VC funds
Barney Bruce-Smythe, Senior Associate (London)
This literature review summarises a recent paper on comparative performance persistence across PE investment strategies (buyout versus venture capital) in the US since 1984. We examine the underlying data in the study and assess the applicability of other datasets in understanding managers’ interim and final performance, based on internal rate of return, multiple on invested capital and public market equivalent benchmarks.