Over the past 25 years, private equity evolved into an important allocation for institutional investors, driven by an ownership model purpose-built for longer-term value creation which, in turn, drove strong returns. In recent years, however, a healthy level of scrutiny has emerged. Private equity returns have moderated relative to the historical average time-weighted net return of approximately 13% over the prior 25 years, and some investors have begun to question what lies ahead (See Chart 1.0...
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