BB Capital: Private equity returns average 14.3% annually over 10 years
SPY•BB Capital’s analysis found private equity returned an average 14.3% annually over 10 years, compared with 14.2% for the S&P 500. It said private markets lagged equities in 2026 as large technology companies drove stock-market gains.
1. Returns and variation
BB Capital’s October 16 analysis found private markets lagged equities in 2026. Private equity delivered average annual returns of 14.3% over 10 years, compared with 14.2% for the S&P 500, while returns varied significantly across funds, strategies and vintage years.
2. Investment outlook
Schroders Capital’s fourth-quarter outlook cited geopolitical tensions, inflation risks and AI-related investment as factors increasing the importance of valuations and fund selection. It identified smaller and midsize buyouts, asset-based finance and infrastructure debt as selective opportunities.
