Performance

The private equity firm’s cash profits, which come from management fees, carried interest and portfolio sales, came in at $168.7m in the first quarter, compared with $487.7m in Q4 last year.

The ultimate performance of a fund is determined as early as its fifth year, according to a study of 700 PE vehicles by Pantheon Ventures.

State Street Corporation’s GX Private Equity Index saw a negative return of 1.37% for Q3 2015, down from a 4.22% gain in the previous quarter.