Goodbye to the days when we basked in PE’s performance glow

The valuation bubble in some areas of the VC market has popped, drenching US endowments, including the ones belonging to the Ivy League, in potential losses as market writedowns begin to take effect. Endowments will be hoping for a quick clean-up, with some pushing GPs to mark down the value of investments rather than kick the can down the road in the hope of a market rebound. Private equity has basked in the rays of stellar performance for years. Today’s valuations, though, look like raining on everyone’s parade.