0% 50% 100% 150% 200% 250% IRR All Funds Liquidated Funds Only U.S. Private Equity Partnership 1.5 -100% -50% 50% 100% 150% 200% 250% IRR Liquidated Funds Only All Funds European Private Equity Partnership FIGURE 28.2 Distribution of Returns to Private Equity Data source: Thomson Venture Economics. TABLE 28.2 Distribution of Reported Returns Buyout Venture Buyout Venture Liquidated Liquidated Unliquidated Unliquidated Sample size Maximum Upper quartile Median Lower quartile Minimum Standard error 102 243.9% 22.4% 12.8% 5.5% -42.2% 3.4 327 107.9% 14.6% 7.9% 1.3% -72.6% 0.9 410 137.8% 16.2% 5.6% -A.\% -100.0% 1.2 1133 726.2% 19.8% 5.2% -2.6% -100.0% 1.5 Data source: Thomson Venture Economics.