The State Street Global Exchange Private Equity Index Rose 4.8 Percent to End Q4 2017

All Three Categories of Private Equity See Continued Uptick in Returns

BOSTON--()--The State Street Global Exchange℠ Private Equity Index (GXPEI) ended the fourth quarter of 2017 with a continued strong performance by way of a 4.78 percent total gain. Buyout Funds lead private equity strategies in gains with 5.23 percent for the quarter.

The PEI is based on directly-sourced limited partnership data and represents more than $2.7 trillion in private equity investments, with more than 2,800 unique private equity partnerships, as of December 31 2017.

Fourth Quarter Highlights Include:

  • Buyout funds have now led in gains among the three main private equity strategies (Buyout, Venture Capital and Private Debt) for eight consecutive quarters.
  • Venture Capital returns improved to 4.21% from 3.57% in Q3 while Private Debt funds inched higher to 3.15% in returns, up from 2.84% in Q3.
  • Q4 2017 saw continued, yet slowing, depreciation of USD against the Euro of 1.6%, following a Q3 decline of 3.5% and Q2 decline of 6.2%.
    • European-focused private equity funds experienced a 5.42% quarterly gain in USD-denominated terms (3.78% in EUR-denominated IRR); US-focused funds returned 4.30%; and funds focused on the rest of the world gained 6.14%.
  • Among sectors, Industrial funds once again saw the highest return, rising to 6.68% from 5.87% in Q3, followed by Information Technology funds with a return of 5.91%, up from 3.80% in Q3; Energy funds’ performance continued to improve with a return of 4.05%, up from 2.59% in Q3.
  • Average monthly paid-in-capital to commitment (PICC) increased to 0.77% in 2017 up from 0.64% in 2016; Average monthly distribution to commitment (DCC) increased to 1.07% in 2017 up from 0.88% in 2016.

For additional insights, or to learn more about the GX Private Equity Index please visit

Index returns reflect capital gains and losses, income, and the reinvestment of dividends.

It is not possible to invest directly in an index. Index performance does not reflect charges and expenses associated with the fund or brokerage commissions associated with buying and selling a fund.

Index performance is not meant to represent that of any particular fund.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $33.30 trillion in assets under custody and administration and $2.70 trillion* in assets under management as of March 31, 2018, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at

* Assets under management include the assets (approximately $36 billion as of March 31, 2018), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.

Marketing Communication

Important Information

Investing involves risk including the risk of loss of principal. State Street Global ExchangeSM is a trademark of State Street Corporation (incorporated in Massachusetts) and is registered or has registrations pending in multiple jurisdictions.

This document and information herein (together, the “Content”) is subject to change without notice based on market and other conditions and may not reflect the views of State Street Corporation and its subsidiaries and affiliates (“State Street”). The Content is provided only for general informational, illustrative, and/or marketing purposes, or in connection with exploratory conversations; it does not take into account any client or prospects particular investment or other financial objectives or strategies, nor any client’s legal, regulatory, tax or accounting status, nor does it purport to be comprehensive or intended to replace the exercise of a client or prospects own careful independent review regarding any corresponding investment or other financial decision. The Content does not constitute investment research or legal, regulatory, investment, tax or accounting advice and is not an offer or solicitation to buy or sell securities or any other product, nor is it intended to constitute any binding contractual arrangement or commitment by State Street of any kind. The Content provided was prepared and obtained from sources believed to be reliable at the time of preparation, however it is provided “as-is” and State Street makes no guarantee, representation, or warranty of any kind including, without limitation, as to its accuracy, suitability, timeliness, merchantability, fitness for a particular purpose, non-infringement of third-party rights, or otherwise. State Street disclaims all liability, whether arising in contract, tort or otherwise, for any claims, losses, liabilities, damages (including direct, indirect, special or consequential), expenses or costs arising from or connected with the Content. The Content is not intended for retail clients or for distribution to, and may not be relied upon by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to applicable law or regulation. The Content provided may contain certain statements that could be deemed forward-looking statements; any such statements or forecasted information are not guarantees or reliable indicators for future performance and actual results or developments may differ materially from those depicted or projected. Past performance is no guarantee of future results. No permission is granted to reprint, sell, copy, distribute, or modify the Content in any form or by any means without the prior written consent of State Street.

The offer or sale of any of these products and services in your jurisdiction is subject to the receipt by State Street of such internal and external approvals as it deems necessary in its sole discretion. Please contact your sales representative for further information.

Currency Risk is a form of risk that arises from the change in price of one currency against another. Whenever investors or companies have assets or business operations across national borders, they face currency risk if their positions are not hedged.

All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for decisions based on such information and it should not be relied on as such.

State Street Global ExchangeSM is a trademark of State Street Corporation (incorporated in Massachusetts) and is registered or has registrations pending in multiple jurisdictions.

State Street Corporation, One Lincoln Street, Boston, MA 02111-2900.

©2018 STATE STREET CORPORATION- All Rights Reserved


State Street Corporation
Julie Kane, +1 617-664-3001


State Street Corporation
Julie Kane, +1 617-664-3001