Glossary
Vintage Year
Vintage Year denotes the year in which a Private Markets fund makes its first capital investments. The metric serves as a reference point for comparing funds of the same cohort in terms of market conditions and performance.
At a glance
01
The Vintage Year significantly influences investment conditions, as economic cycles shape entry valuations.
02
Fund comparisons are most meaningful within the same Vintage Year.
Frequently asked questions
Funds that invested during economically challenging periods may have benefited from more attractive entry valuations, while boom years led to higher prices. A fair comparison of results is therefore only meaningful between funds of the same Vintage Year.
