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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Evaluating performance is an imperfect science: every metric has its pros and cons. Moving the goalposts, however, is rarely a sign that the game is going well. Look no further than the private equity industry, where DPI is the new IRR.
On the face of it, shifting focus towards distributions to paid-in capital over internal rates of return is bewildering given how…
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