Can the past predict the future?

New research finds analysis of 3,512 private equity funds raised since 1980 (only GPs with at least two funds are included, and only funds with at least seven years are included, as performance of younger funds is still fluctuating and not definitive). Performance disclaimers repeatedly tell us that past performance is not a guide to the future and may not be repeated. And that is true. But is there a nuance to consider between public and private equity funds on this front? Schroders analysis suggests that the past performance of private equity funds may provide some useful information to...