How public markets drive private equity secondary pricing
"It is generally quite well understood that the performance of public markets is one of the most, if not the most important driver of private market returns. However, a deeper understanding of the relationship between public and private transactions can help provide insights into valuation, going well beyond the construction of the ubiquitous "comp table". In this report, we aim to scratch the surface of this subject and look at both the use of public comparables and the circumstances in which private markets can depart from them."