The Components of Private Equity Performance: Implications for Portfolio Choice
By William Kinlaw, Mark Kritzman, Jason Mao, State Street Associates
Sep 1, 2015

By Will Kinlaw, Mark Kritzman, and Jason Mao.

Published in the Journal of Alternative Investments, Fall 2015.

We use a proprietary database of private equity returns to measure the excess return of private equity over public equity and to partition this return into two components: an asset class alpha and compensation for illiquidity.

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