(updated with correction)
U.S. private equity returned 5.9% internal rate of return in the fourth quarter, 13.8% for 2009 and an annualized 7.8% for the 10 years ended Dec. 31, according to Cambridge Associates.
U.S. buyouts returned 14.8% for the year, up from -22.7% for the year ended Dec. 31, 2008.
Venture capital's return was 3% for the year, up from -16.4% for the year ended Dec. 31, 2008.
Private equity funds opened in 2006, 2005, 2004, 2007 and 2000 were the five largest in the fourth quarter, representing 76% of the Cambridge U.S. Private Equity Index's value. Returns ranged from 4.7% for the 2005 funds to 7.3% for 2007 vintage funds.
Venture capital funds opened in 1999-2001 and 2004-2006, made up 76% of the Cambridge U.S. Venture Capital Index's value. The 1999 vintage funds had the highest performance at 5.5%; the 2006 funds were the poorest performing funds with a 1.8% return.