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Share Name | Share Symbol | Market | Type |
---|---|---|---|
State Street Corporation | NYSE:STT | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.62 | 0.86% | 73.11 | 73.90 | 72.26 | 72.51 | 1,840,380 | 01:00:00 |
Despite Dip, New Research Verifies Asset Owners’ Continued Interest in Private Equity Investments
State Street Corporation (NYSE:STT) today announced the results of its GX Private Equity IndexSM (PEI), a benchmark for comparative analysis of private equity performance, which includes a comprehensive data set dating back to 1980. In the third quarter of 2015, the index saw an overall return of -1.37 percent.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160202006094/en/
“The third quarter marks an abrupt end to an uninterrupted, 12-quarter streak of positive returns, the longest winning streak in the 20-year history of our Index,” said Will Kinlaw, senior vice president of State Street Global Exchange. “With growing uncertainty about the global economy and a big spike in public capital market volatility over the past six months, it’s no surprise that the private equity market is taking a pause.”
The Index is based on directly sourced limited partnership data and represents more than $2.3 trillion in private equity investments, with 2,462 unique private equity partnerships, as of September 30, 2015.
“There has been a spike in exit activity over the past several years, with private equity managers returning capital to investors faster than they are calling it,” said Kinlaw. “This has been the trend for 16 quarters, and while it did not reverse in Q3, it has slowed sharply. Managers are being a lot more selective.”
Additional third quarter highlights include:
Soon-to-be-published research by State Street of more than 100 institutional investors globally finds that a majority expect their allocations to private equity to increase over the next five years. The complete research report will be released later this quarter.
For additional insights, or to learn more about the GX Private Equity Index please visit http://www.ssgx.com/peindex.
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $28 trillion in assets under custody and administration and $2 trillion* in assets under management as of December 31, 2015, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.
* Assets under management include approximately $22 billion as of December 31, 2015, for which State Street Global Markets, LLC, an affiliate of SSGA, serves as the distribution agent.
Index returns are unmanaged and do not reflect the deduction of any fees or expenses. Index returns reflect all items of income, gain and loss and the reinvestment of dividends and other income.
Past performance is not a guarantee of future results.
CORP-1784
View source version on businesswire.com: http://www.businesswire.com/news/home/20160202006094/en/
State Street CorporationJulie Kane, +1-617-664-3001jekane@statestreet.com@StateStreet
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