Private equity had a -6.86% internal rate of return for the year ended Sept. 30, according to the State Street Private Equity index, which tracks the trailing IRR.
The three-year IRR was 11.59%, five-year IRR was 15.93% and 10-year IRR was 12.25%.
For the quarter ended Sept. 30, the IRR was -8.35%, vs. -1.51% for the second quarter and -0.87% for the first quarter.
The IRR for each quarter in 2007 was positive: 2.26% IRR in the third quarter of 2007. 8.55% for the second quarter and 5.76% for the first quarter.