PE distributions have collapsed from a historical ~30% of NAV per year to approximately 10% of NAV currently, which is the lowest level since 2008, despite the fact that stock markets are reaching all-time highs and the economy is not in recession, indicating severe distress in PE exit channels.

factualpending

Speaker

Dan Rasmussen

Evidence Quote

typically private equity distributes about 30% of NAV a year. Um, but recently those distributions have dropped up down to about 10% of NAV. um which is the lowest since 2008 [19:40]

Source

The Bubble No One Can Sell | Dan Rasmussen on the Private Equity TrapExcess Returns
Created: 8/11/2026, 8:01:35 AM

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