For most of the modern private equity era, IRR was the metric that defined fund performance. It was reported on the cover page of every quarterly update. It was the headline statistic in every fundrai...
For the past three years, the consensus across private equity has been that multiple arbitrage is finished. The cycle of buying small platforms cheaply, rolling up adjacent businesses, and selling the...
The modern marketplace for private capital has transcended the simplistic calculus of financial leverage. In an era where Operational Alpha has emerged as the definitive source of superior returns, th...