Have U.S. elections had any effect on private equity performance?

In November 2024, U.S. voters will head to the polls to elect their president for the next four years, as well as members of Congress. With that prospect in mind, many investors are trying to assess how these elections might affect the performance of their portfolios.

In this paper we examine whether and how past U.S. elections have affected the immediate performance of U.S. private equity, and look at longer-term performance under different administrative regimes.

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