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From:
CFA Institute Enterprising Investor
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The Tyranny of IRR: A Reality Check on Private Market Returns - CFA Institute Enterprising Investor
https://blogs.cfainstitute.org/investor/2024/11/08/the-tyranny-of-irr-a-reality-check-on-private-market-returns/
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What makes most investors believe that private capital funds are such clear outperformers? The use of since-inception internal rate of return (IRR) as the industry’s preferred performance metric and the media’s coverage of the sector are to blame.
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