NEPC’s Kristin Reynolds was quoted in a recent FundFirearticle to discuss the impact that the lag in private equity valuations and venture capital returns will have on endowments this year.View the article on FundFire’s site here.
As universities begin to release their year-end results, investment consultants and outsourced chief investment officers expect small endowments to post better returns than their large counterparts.
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The poor venture capital returns are due to a lag in valuations, the same delay that caused them to outperform public equities in 2022. Now, private equity’s valuation lag has hurt the overall value of the asset class in the year-end results, while public equities posted strong results, NEPC Partner and Practice Group Director Kristin Reynolds said.
“I expect that endowments with higher levels of private markets will trail those with higher levels of public markets by a pretty large margin,” she said.
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