BVCA Private Equity and Venture Capital ... - BVCA admin
BVCA Private Equity and Venture Capital ... - BVCA admin
BVCA Private Equity and Venture Capital ... - BVCA admin
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6 <strong>BVCA</strong> <strong>Private</strong> <strong>Equity</strong> <strong>and</strong> <strong>Venture</strong> <strong>Capital</strong> Performance Measurement Survey 2011<br />
Highlights<br />
Continued<br />
As of December 2011, the best performing fund<br />
vintages on the since-inception measure were<br />
1994, 2004, <strong>and</strong> 2002, generating pooled average<br />
IRRs of 34.3%, 26.4% <strong>and</strong> 26.1% per annum,<br />
respectively. This provides further evidence<br />
that committing to the private equity asset class<br />
during periods of macro-economic weakness<br />
can deliver good returns to investors. This is<br />
explored in detail in our Range of returns<br />
analysis later on in the report.<br />
Since-inception return by vintage year to December 2011<br />
% p.a.<br />
40<br />
35<br />
30<br />
25<br />
20<br />
15<br />
10<br />
5<br />
0<br />
40<br />
35<br />
30<br />
25<br />
20<br />
15<br />
10<br />
5<br />
0<br />
9.5<br />
1980<br />
–84<br />
13.7<br />
1985<br />
–89<br />
11.3<br />
23.4<br />
20.3<br />
15.1<br />
34.3<br />
23.1<br />
17.6<br />
15.0<br />
12.9<br />
9.7<br />
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Total<br />
16.6<br />
25.2<br />
26.1<br />
22.0<br />
26.4<br />
7.4<br />
2.4<br />
8.9<br />
14.3
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