PitchBook：2026年第一季度私募资本收益晴雨表：私募市场业绩实时洞察（英文版）（21页）.pdf

1、Q1 2026 PRIVATE CAPITAL RETURN BAROMETERSTimely insights into private market performanceQUANT RESEARCHPrivate CapitalReturn Barometers2026Q1Q1 2026 PRIVATE CAPITAL RETURN BAROMETERSFor the most up-to-date PitchBook Private Capital Return Barometers,please refer to our Insights web page.Institutional

2、 Research GroupJacobie FullertonQuantitative Research APublished on May 12,2026Overview3Private equity 6Venture capital9Private debt12Infrastructure15Natural resources18Contents2Q1 2026 PRIVATE CAPITAL RETURN BAROMETERSThe PitchBook Private Capital Return Barometers are a suite of models designed to

3、 evaluate the current return environment for US private market fundsencompassing PE,VC,private debt,infrastructure,and natural resources.These models provide a data-driven assessment of private market performance,leveraging macroeconomic and market-fundamental factors to quantify return trends.Colle

4、ctively,we refer to these models as the PitchBook Private Capital Barometers,or simply the“Barometers.”The advantages of PitchBooks BarometersPrivate market returns tend to move more slowly and are far less transparent than those in public markets.Aside from maintaining an active private market allo

5、cation and receiving periodic updates from GPs,participants often must wait several months for closed-end funds to report performance before gaining a clear,comprehensive view of returns.Even then,fund net asset values(NAVs)and returns can lag shifts in the broader macroeconomic environment.To bridg

6、e this reporting gap and provide a timelier view of private market fund performance,we developed the PitchBook Private Capital Return Barometers,a factor-based framework designed to estimate returns in near real time.The Barometers distill market fundamentals into a single score,quantifying the curr