Alternative Investments
DPI vs TVPI: The LP Metric That Actually Matters in 2026
TVPI (Total Value to Paid-In) includes unrealized paper gains. In 2026, LPs are demanding DPI because distributions fell to 6% of AUM, the lowest recorded level, while nine consecutive vintages failed
Jeff Barnes, MBA··8 min read
Private Equity
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...
Jeff Barnes, MBA··12 min read