In a November 2024 article, Cliffwater showed the EBITDA multiples for private and public equity for the 27-year period from 1997 through the third quarter of 2024. Multiples were measured by the ...

Value-themed ETFs no longer provide downside protection, as most have evolved into “light momentum” strategies driven by ...

When private equity firms present their track records to investors, the charts often look too good to be true—higher returns with lower volatility than public markets. As it turns out, they often are ...

Structural advantages and market shifts seem likely to support a return to form for this enduring asset class. While private equity has long been celebrated for its ability to deliver outsized returns ...

A recent Financial Times opinion piece laid out how illiquidity makes private equity hazardous for investors. The Bank of England’s Nathanaël Benjamin warns private equity illiquidity is a systemic ...

Private equity investors acquire companies with the aim of enhancing the value of those companies and eventually selling them for a profit. This process encompasses strategic management, operational ...