- Each bar represents the dispersion of returns as measured as the difference in IRR between top and bottom quartile funds
- Historically, the difference in investing with bottom quartile managers instead of those in the top quartile in private markets is approximately 15%
- The purple dot represents the median IRR for each strategy
- Credit’s dispersion of returns is lower than other strategies, as seen through the median being higher than the spread, since it is historically the least volatile strategy
November 22, 2019
by Cobalt LP