Fooled by IRRs (Yale, Schwarzman’s Cases)

“Everyone loves an optical illusion, except when it comes to financial results (1)”. Yet the private markets are not immune from optical illusion risks. Continue reading

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Carlyle, Blackstone and Private Markets’ Beta

In the last few days, Carlyle first and Blackstone almost right after released investor updates and provided interesting information about the growth estimates of the value of their private equity funds for 2013 and the first quarter of 2014. Continue reading