“…Whereas various methods exist to assess the performance of a single private equity fund investment, techniques that analyze and compare the performance of diversified programs are not readily available (Mathonet and Meyer [2007]; Day and Diller [2010]; Kaserer and Diller [2011];Chandler, Wrigley, and Gottschalg [2015]; Demaria [2015]). A proper comparison of a diversified program's performance would require a universe of diversified programs with similar vintage year, strategy, and geographic composition.…”