Pan-European Private Equity Performance Benchmarks Study 2013 (Invest Europe)
Summary
- The study analyzes net performance data for 1,455 European private equity funds from vintage years 1980 to 2013 representing €400bn of total commitments as of 31.12.2013.p.4
- From inception to 31 December 2013, the net-pooled IRR for all 1,455 independent private equity funds reached 9.24%.p.4
- Buyout funds generated an all-time net pooled IRR of 11.41%, whereas venture funds reported an IRR of 1.68%.p.4
- Top quartile private equity funds remained stable with a net pooled IRR of 20.82% compared to 21.04% in 2012.p.4
- Buyout funds in the €250m to €500m fund size range were the top performers in the buyout sample, delivering an IRR of 19.79% since inception.p.5
- Five-year horizon IRR comparisons show US buyouts leading at 13.52%, followed by European buyouts at 9.63%, US venture at 5.86%, and European venture at 1.32%.p.5
Key insights
- The strongest vintage year for all private equity in terms of IRR was 1995 at 42.94%, while 1994 generated the highest TVPI multiple at 2.91.p.4
- Buyout funds with fund sizes over €1bn maintained steady long-term performance with a 10-year horizon IRR of 11.25%.p.5
- The best-performing venture fund size bracket since inception was funds up to €50m, which recorded an IRR of 3.02%.p.5
Topics and entities
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