Part 3/17:
Contrary to expectations of robust growth, publicly traded shares of private equity firms have seen significant declines this year. The Global Private Equity Index (GLPE) has dropped nearly 10% since the start of 2023, and even more alarming, giants like Apollo and Blue Owl have fallen over 20%. Other major players like KKR, Ares, and TPG are experiencing double-digit declines, with stalwart firms like Blackstone also suffering. Interestingly, a handful of firms such as Carlyle and 3i buck the trend, outperforming the S&P 500, but their outperformance is more the exception than the rule.