French Private Equity Outperformance at End 2022 (France Invest)

Summary

• Over a 10-year horizon at end 2022, French private equity achieved a PERACS Rate of Return of 13.5% and a PERACS Alpha of 4.4% compared to a market return of 9.2%.p.7
• The 10-year horizon alpha for Infrastructure reached 7.2% at end 2022, up from 3.1% at end 2021.p.9
• Over a 15-year horizon at end 2022, French private equity delivered a PERACS Rate of Return of 12.4% and an Alpha of 5.6%.p.11
• Buyout Capital recorded a 15-year horizon alpha of 7.3% at end 2022, compared to 8.3% at end 2021.p.13
• Since inception at end 2022, total French private equity delivered a 12.6% PERACS Rate of Return and a 5.6% Alpha against a 7.1% market return.p.15
• Development Capital alpha since inception increased to 1.0% at end 2022, up from -0.1% at end 2021.p.17

Key insights

1. Venture & Growth 10-year horizon alpha expanded from 3.7% at end 2021 to 5.3% at end 2022.p.9
2. Development Capital 10-year horizon alpha turned positive from -2.8% at end 2021 to 0.4% at end 2022.p.9
3. Infrastructure recorded the highest 10-year horizon alpha at 7.2% at end 2022.p.9
4. 15-year horizon PERACS Rate of Return stood at 12.4% with a market return of 6.8% at end 2022.p.11
5. Buyout Capital maintained a strong 15-year horizon alpha of 7.3% at end 2022.p.13
6. Total private equity alpha since inception reached 5.6% at end 2022, up from 5.1% at end 2021.p.17
7. Buyout Capital held the highest alpha since inception among all private equity segments at 8.2% at end 2022.p.17