Recently, private market skeptics, fueled by a misleading, high-profile report from a large financial institution [State Street Private Capital Insights Q4 2024], have again suggested that the long-run performance of private equity has lagged that of public markets. This is an increasingly important topic as discussions intensify around broadening access to private markets. As policymakers weigh whether, and how, individual investors should be allowed to invest, it’s essential that we begin with a clear view of the historical facts.
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