The Japan Private Equity Association launched a joint project with PwC Aarata LLC in 2016 to build a database of performance in response to the long awaited indicators of private equity fund performance in Japan.
After a testing period, a total of 25 regular members (83 funds) have participated in the project, and we are pleased to announce the release of our 2018 performance research report.
In terms of annualized internal rate of return (IRR) to the end of 2018 for all funds surveyed, the performance has been stable at 12.80% over three years (2016-2018), 18.22% over five years (2014-2018) and 12.58% over 10 years (2009-2018). We found that, in the same period, the performance of the market averages (TOPIX Dividend Index) was 1.00%, 4.95% and 7.92%, respectively and this results indicate that private equity funds in Japan have outperformed the market average performance. For more information on the study’s methodology, companies participating, and points to keep in mind, please download the report.
The Japan Private Equity Association will continue to collect data and increase the number of participants, as well as enhance the content of the survey.