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.
