Stats Active, passive and flows Private equity

The same PE index returns 8.67% or 15.17%, by horizon

1 yr: 8.67%8.67%1 yr3 yr: 8.65%8.65%3 yr5 yr: 11.67%11.67%5 yr10 yr: 15.17%15.17%10 yr15 yr: 14.99%14.99%15 yr20 yr: 13.18%13.18%20 yr25 yr: 12.44%12.44%25 yr

Net of fees, expenses and carried interest, across 1,769 funds of vintages 1986 to 2025. Source: Cambridge Associates Q4 2025 US private equity benchmark.

Private equity funds buy whole companies, hold them for years and report an internal rate of return. Cambridge Associates' US index shows 8.67% over one year and 15.17% over ten, to December 2025. The window chosen decides the answer more than the asset does.

8.67%One year return
15.17%Ten year return
32,000Unsold companies
$3.8 trillionUnrealised value

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