A new report from Scientific Infra & Private Assets entitled “Private Equities in 2024” uses the privateMetrics database, with a coverage of over one million companies across 150 countries, to provide a detailed analysis of the latest valuation multiples, including EV/Sales, Price/Book, and EBITDA multiples as estimated using the most recent monthly transactions.

The past couple of years have not been very kind to private equities, amid higher rates, a slower exit environment, fewer distributions, and longer fundraising periods. Exit values remain the most debated topic.

We see that reported NAVs and market prices diverge during long periods. As a result, average changes in reported NAVs in 2024 are not providing the full picture of what happened in the market for private equities. privateMetrics does not use or report ‘valuations’ as represented by reported NAVs but instead uses observable exit prices to calibrate an asset pricing model and estimate the market price of private equities:

Private Equities Market (Net Returns) Vs. Fund Manager Indices (2013-2024)

Source: privateMetrics, Cambridge Associates, Preqin – average fees: 2.5%

Read the full report for more insights.

To find out more:

🔗 privateMetrics Index Factsheet
🔗 privateMetrics Asset Valuation Methodology