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A Look Inside Our Co-Investment Playbook: Top 3 Takeaways

The co-investment landscape has transformed significantly over the past decade. Once the domain of only the largest LPs, co-investment opportunities are now more widely available and have become a common feature in private markets portfolios. At Cambridge Associates, we’ve witnessed this evolution firsthand. We’re excited to share a few key insights from our own playbook […]

March 2026

Has Private Equity Hit Peak Software?

No, we expect software investing to continue to loom large in private equity as it expands to incorporate the opportunities presented by artificial intelligence (AI) while managers also work rapidly to protect existing investments, which are most at risk. Not long after the Federal Reserve began increasing interest rates in March 2022, ChatGPT was publicly […]

February 2026

US PE/VC Benchmark Commentary: First Half 2025

In the first half of 2025, US private equity (PE) continued its run of low single-digit quarterly returns, while US venture capital (VC) extended its recovery from a tough stretch of flat performance—the Cambridge Associates LLC US Private Equity Index® earned 3.9% and the Cambridge Associates LLC US Venture Capital Index® earned 6.4%. Within PE, […]

January 2026

2026 Outlook: Private Equity & Venture Capital Views

Investors should revisit private portfolio exposures amid a morphing market in 2026 by Andrea Auerbach While the last year has been one of recovery for the private markets, the aftershocks of the 2021 era continue to reverberate, with both the distribution drought and concomitant fundraising slowdown expected to extend their four-year runs into 2026. We […]

December 2025

Executive Order Opens the Gates to Private Markets

US President Donald Trump signed an executive order on August 7 directing the Department of Labor and SEC to issue guidance on the inclusion of private market assets in 401(k) plans, marking a pivotal step toward unlocking a major new source of demand for private assets and substantially accelerating the democratization of the asset class. […]

August 2025

US PE/VC Benchmark Commentary: Calendar Year 2024

With a backdrop of strong, yet concentrated public markets, US private equity and venture capital posted mid to high single-digit returns in 2024, as venture capital bounced back from its two-year streak (2022–23) of negative returns. For 2024, the Cambridge Associates LLC US Private Equity Index® returned 8.1% and the Cambridge Associates LLC US Venture […]

August 2025

Private Markets Bracing for Tariff Impacts

With events unfolding daily (even moment to moment), it is not yet clear how the nearly $2 trillion of assets in the private equity and venture capital market will be impacted. However, given the diversity and breadth of industries across the private markets, it is clear that the impact won’t be uniform. Private company valuations […]

April 2025

US PE/VC Benchmark Commentary: First Half 2024

In the first half of 2024, returns from US private equity and venture capital (PE/VC) were modest; the Cambridge Associates LLC US Private Equity Index® earned 3.4% and the Cambridge Associates LLC US Venture Capital Index® earned 1.4%. Within PE, buyouts and growth equity posted similar results (3.3% and 3.6%, respectively), but PE/VC returns generally […]

March 2025

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