So my message here to all venture capitalists, now is the time. Please take your companies public. I breathe investing.These business models these GPS are creating are some of the best high margin businesses ever created. My question to any new allocator or investor is do you think you're going to have access to top decile managers cuz at that point top desile you are achieving returns above the PME consistently but below that even top quartile you're not. Ready to go.Miles, dude, I'm so excited for this. L ...

Core Viewpoint - The article discusses the performance benchmarks of private equity funds in China, highlighting the challenges and expectations of Limited Partners (LPs) regarding return timelines and the importance of data transparency in the industry [4][5][7]. Group 1: Fund Performance Metrics - The report indicates that achieving a DPI (Distributions to Paid-In capital) of 1 within 7 years is considered excellent, while 9 years is the norm, and 13 years is a warning sign for fund performance [14][27]. - For funds established for 5 years, an excellent DPI can reach 50%, while those in the bottom quartile may take approximately 13 years to break even [14][27]. - The performance data from 2008 to 2023 shows that the top quartile funds have consistently outperformed, with a DPI of 2.03 in 2008 and declining to 0.00 by 2023 [15]. Group 2: Comparison with U.S. Funds - The article compares the performance of Chinese VC funds with U.S. VC funds, revealing similar return timelines: top quartile U.S. funds take 7-8 years to break even, while median funds take around 9 years [16][27]. - The findings suggest that the perceived slowdown in DPI is not unique to China but reflects a broader trend in the VC industry [18]. Group 3: Importance of Data Transparency - The report emphasizes the need for improved data transparency in the Chinese private equity market, as the current lack of transparency complicates the accurate assessment of fund performance [7][28]. - The Benchmark report serves as a critical tool for LPs to evaluate their investments and assess new funds, highlighting the importance of reliable data in establishing industry standards [8][28]. Group 4: Performance Realization - The article introduces the "performance realization degree" metric, which measures how much of the total value (TVPI) has been returned to LPs as cash (DPI), indicating that Chinese funds have a higher realization degree compared to their U.S. counterparts [22][28]. - The findings suggest that while the overall performance of Chinese funds appears strong, the realization of returns in cash is crucial for true value creation [28].