RT Journal Article SR Electronic T1 Private Equity Returns in Emerging Markets JF The Journal of Private Equity FD Institutional Investor Journals SP 42 OP 52 DO 10.3905/jpe.2008.710904 VO 11 IS 4 A1 Ivan Missankov A1 Riaan van Dyk A1 Andrew van Biljon A1 Mark Hayes A1 Werner van der Veen YR 2008 UL https://pm-research.com/content/11/4/42.abstract AB This article analyzes the investment performance of private equity funds in South Africa. We investigate the investment performance of a sample set of 11 South African private equity funds over a 13-year period. We find a performance premium of 18% p.a. relative to listed South African equities. Private equity also produces the second-best risk-adjusted performance relative to a set of conventional asset classes and a low observed correlation relative to other asset classes. We further find that returns after fees decrease by an average of 6% p.a., with the impact of costs increasing with fund performance.TOPICS: Private equity, developed, performance measurement, statistical methods