Performance metrics
Top Quartile
Top quartile is the highest-performing 25% of funds in a specified peer set, on a specified metric and reporting date. A fund can rank differently by DPI, TVPI, and IRR, so “top quartile” needs context.
Knowing the language helps you follow the conversation. Knowing what to ask is how you participate in it.
Understanding the terms is a first step. The Aligned Capital Program uses them to teach you how to evaluate a fund and prepare the questions to ask its manager.