Module 2
Fund Performance Metrics
How PE fund performance is measured, reported, and benchmarked against public markets and peer funds.
Lessons
Lesson 1
IRR (Internal Rate of Return)
The industry's primary return metric, its calculation, its variants, and its pitfalls
~30 min
Lesson 2
MOIC / TVPI / DPI / RVPI
The multiple-based metrics that complement IRR and tell you what actually happened with the money
~30 min
Lesson 3
The J-Curve Effect
Why PE funds lose money on paper before they make money, and how to interpret early returns
~25 min
Lesson 4
Benchmarking
Comparing PE fund performance against public markets and peer funds
~25 min
Lesson 5
LP Reporting
How fund performance is packaged, delivered, and interpreted by limited partners
~25 min