Are the good times over?
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Private equity’s calling card, from its early days in the 80s through the mid-2000s, has been its ability to beat the market. The asset class pretty handily beat stocks in bull and bear markets alike. Until 2006, LPs in PE funds had at least a 50/50 shot at beating the market—in 2001, outperformance was practically a layup, with almost 88% of PE funds in that vintage beating their