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Global Fund Performance Report (as of Q2 2021 with preliminary Q3 2021 data)

2021

Global Fund Performance Report (as of Q2 2021 with preliminary Q3 2021 data)

February 1, 2022

Global Fund Performance Report (as of Q2 2021 with preliminary Q3 2021 data)
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VC, PE fund returns continue to impress—what's next?

Private equity and venture capital funds, along with funds-of-funds, continued to post incredible returns through the end of last June, as the world seemed to be through the worst of the pandemic.

Our latest Global Fund Performance Report tracks the data through Q2 2021 across the full range of private fund strategies, breaking down past trends and outlining future expectations in the face of shifting economic conditions.

Key takeaways:
 
  • Funds of $5 billion or more performed best among PE vehicles, buoyed by public market comps amid an abundance of massive IPOs.
  • VC returns are displaying the benefits of a robust exit market, with rolling one-year IRRs surpassing 65% as of Q2 2021, marking the fifth consecutive quarter of increasing IRRs.
  • Real assets funds posted a 19% return over the 12 months ended in Q2 2021, driven by steady returns in infrastructure and a current positive trend in oil & gas, though the latter remains volatile.
  • Private debt funds recorded their strongest performance since 2010, riding the wave of strong corporate earnings and continued bounceback from the pandemic.

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Table of contents
Overview 3
Private equity 7
Venture capital 10
Real estate 13
Real assets 17
Private debt 20
Funds of funds 23
Secondaries 26