Private equity runs on a standard architecture: funds charge management fees of roughly 2 percent plus 20 percent carried interest, lock capital for around a decade, and admit accredited investors and qualified purchasers only. Dispersion between top-quartile and bottom-quartile funds is far wider than in public markets, which makes access and selection the entire game.
This hub covers the institutional landscape from the LP's side of the table: firm profiles across buyout, growth, and venture capital, fund structures and distribution waterfalls, capital calls and the J-curve, secondaries and evergreen vehicles, and direct deals and angel investing. It is written for individuals whose net worth now clears the entry thresholds and who need to judge whether the asset class earns its illiquidity, its fees, and its paperwork before wiring the first capital call.
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Private Equity: common questions
How do I invest in private equity as an individual?
Individual access runs through feeder platforms and interval or evergreen funds, direct LP commitments where minimums allow, and angel or direct deals. Accreditation is the entry requirement, and the practical hurdles are minimum check sizes, capital calls, and a decade of illiquidity. Interval and evergreen structures trade some return mechanics for lower minimums and periodic liquidity.
What returns should I expect from private equity?
Top-quartile funds have historically beaten public equities after fees, while the median fund often has not, and bottom-quartile funds destroy value. Fund selection and vintage-year diversification drive outcomes more than the asset-class label. Compare any pitch against a public-market equivalent benchmark, because IRR figures flatter early distributions and understate the cost of committed capital.
What is the J-curve in private equity?
The J-curve describes a fund's return path: early years show negative returns as fees accrue and capital deploys before portfolio companies are marked up or sold, then returns climb as exits occur. For a limited partner this means committed capital looks dead for years, and building vintage diversification requires committing through that discomfort.