Italy’s private equity and venture capital transactions gross IRR down to 18.2% in 2023, AIFI-KPMG say

Cash multiple on invested capital also fell to 1.9x. In 2022 the IRR had been 18.7% with a cash multiple of 2.5x. In 2020 it was 32.1% with a multiple of 3.2x

The average aggregate gross IRR of private equity and venture capital transactions on Italian companies slid to 18.2% in 2023 from 18.7% in 2022, according to KPMG's calculations based on AIFI data, in relation to the performance of divestments in 2023, regardless of when. . .