Investor expectations on 5-year IRR?

Great articles and references. I agree that a 30% Investor return is the general target.

Saadat Adhmed's reference can be supplemented by the Pepperdine Private Markets Report (https://bschool.pepperdine.edu/institutes-centers/centers/applied-research/research/pcmsurvey/#:~:text=The%20Pepperdine%20Private%20Capital%20Markets%20report%20is%20an,Banks%2C%20Venture%20Capital%2C%20Angels%2C%20etc.%29%20for%20private%20businesses.) and a similiar report from Imperial which is not open access. If the data is to be believed, IRR expectation have been decreasing, and are higher in the US. PE firms still reference high returns, investors expect what Saadat mentioned. But while the returns have decreased, as the Economist notes one thing is important to the industry - keeping standards high with fees (Google Economist Zilch Capital Investor Letter).


"Some parts of the lexicon will not see style drift. We are still trying to keep alive “two and twenty”, the industry's shorthand for 2% management fees and 20% performance fees. It is, we're sure you'll agree, important to keep up some traditions. Thank you for your continued partnership."