Getting responses to questionnaires is an art and I can’t say I master it. Nevertheless, I had a few especially kind readers of my previous post who contributed their opinion (thanks!) to the embedded polls. Their results make it more interesting and “independent” to define “surprising” certain different data available in the industry. Continue reading
Duration
The PE S-Curve, Dug Out
There are a couple of concepts that qualify a discovery – even if just stumbled upon: novelty and usefulness. With respect to private equity, the S-Curve adds the notion of decreasing marginal returns to improve the mainstream J-Curve notion, and this clears novelty. What’s left now is to dig out its usefulness. Continue reading
The PE S-Curve, Stumbled Upon
Unexpectedly last week, I stumbled upon an S-Curve hidden between the lines of a study released by an established private equity funds of funds firm with a cautious introductory question: “do private equity funds sometimes just run out of steam?” Continue reading
IRR Is Like Fish
IRR is like fish, when someone gets hold of it, it slips away. Hard to seize, hard to terminate – with incredible survival instinct, it tries to jump out of any bucket where it has been secluded. Continue reading
Is Benchmarking IRRs against an IRR Benchmark an Apples for Apples Comparison?
This question, posed in a recent comment to my Fooled by IRRs post, deserves an answer in the form of a post. It has made me realize that the inaugural post of my blog, The Quartiles’ Oxymoron, was not as self-explanatory as I thought it was. Continue reading
Coller’s IRR Card [More Subtly Fooled #2]
If there’s an iconic badge for private equity valuation this is probably Coller Capital’s IRR and compound interest “cheat sheet” Card. Continue reading
Riding Private Markets’ S-Curves
As I write about interpreting and predicting private markets’ returns, for the readers who missed one of my previous posts, I confirm there is no misspelling in the headline, it’s an S. Continue reading
