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The report shows buy-outs, growth capital, venture capital and infrastructure fundsโ strong outperformance of European listed equities over the long timeframes that matter long-term investors, such as pension funds and insurers.
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Our seventh annual publication provides deep insights for investors to understand the performance of European private capital asset classes, and analyses data across a range of metrics, including mPME, which is designed to allow a transparent and comparable performance for private capital and public equity investments.
0:10 European private capital continues to outperform.
0:14 Invest Europe's seventh annual performance benchmark report shows buyouts, growth capital, venture capital, and infrastructure outperforming European listed equities over the long term.
0:28 Long-term outperformance across all segments.
0:32 In 2025, all European private capital segments delivered positive returns and outperformed funds from North America and the rest of the world.
0:43 European buyouts: 14.73% net IRR (internal rate of return) since inception, 786 basis points ahead of the MSCI Europe benchmark.
0:59 European growth capital: 14.17% net IRR since inception, significantly ahead of public market benchmarks.
1:11 European venture capital: 16.59% net IRR over 10 years, 17.06% net IRR over 15 years, outperforming North American VC funds.
1:30 European infrastructure funds: 8.83% net IRR since inception, outperforming comparable public market benchmarks while providing stable long-term value for investors.
1:47 Value creation beyond market movements.
1:51 Strong performance demonstrates that European fund managers create value through active ownership, operational improvement, and long-term growth.
2:01 European private capital continues to deliver diversification, resilience, and attractive returns for investors.
2:12 Authoritative data and insights on our industry in Europe. Visit investeurope.eu/research.
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