Energy PE funds avoided marking down 2013-2015 vintages despite sector collapse
Dan Rasmussen · Dan Rasmussen – Private Equity Risk and Public Equity Opportunity at Verdad Advisers (First Meeting, EP.15) · Feb 17, 2020 · at 22:27
Dan Rasmussen, founder of Verdad Advisers, cites the valuation behavior of energy private equity funds to illustrate how private markets resist marking down distressed assets.
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“Energy private equity is fascinating, because 2013, 14, and 15 vintages of energy private equity funds, when oil prices drop 70%, they've started to rebound a little bit, a huge drop in oil prices, S&P small cap energy down 70 or 80%, peak to trough, 90 plus percent of 2013, 14, and 15 energy private equity funds are marked above one, ok?”
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