The Private Equity Fund Lifecycle: What Happens to Your Capital Across 10-12 Years
TL;DR A standard PE fund runs 10-12 years: capital calls cluster in years 1-5, cash distributions peak in years 6-10, and the J-curve means you carry negative or flat IRR for the first 2-3 years. DPI
Subscription Credit Lines: The PE Tool That Makes Your IRR Look Better Than It Is
Private Equity Subscription Credit Lines: The PE Tool That Makes Your IRR Look Better Than It Is By Jeff Barnes, MBA | Angel Investors Network | June 24, 2026 TL;DR: Subscription credit lines let G...
Vintage Year in Private Equity: Why Entry Timing Explains Most of Your Returns
The year a private equity fund deploys capital, its vintage year, explains roughly 70% of that fund's long-run performance variance. Funds that entered the market in 2001 and 2009 posted median net...
Subscription Credit Facilities: How Your PE Fund's Reported IRR Is Likely Inflated
The Short Version: Same Deal, 11 Points of IRR Apart Your PE fund buys a company for $100 million in month one and sells it for $200 million at month 36. If your GP called your capital at deal clos...
IRR in Private Equity: The Metric Funds Use to Sell You on Returns
TL;DR: Across 12,306 private capital funds totaling $10.5 trillion in AUM, the median net IRR is 9.1%, barely above long-run public market returns once you strip out IRR's mathematical quirks. Oxford.