The Components of Private Equity Performance: Implications for Portfolio Choice
By William Kinlaw, Mark Kritzman, Jason Mao, State Street Associates
Apr 6, 2019
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.
