Recent consumer-focused PE vintages have a ways to go

Consumer spending has been on the rise, but private equity managers of youthful consumer-focused funds still have a ways to go when it comes to either increasing overall value or realizing gains. The median fund of the 2010 vintage, for example, has a total-value-to-paid-in (TVPI) multiple of 1.33x, with 0.30x for the multiple of what has been actually distributed back to