Shifting assets from public to private equity in and around recent major downturns has been a rewarding strategy.

The spread of the coronavirus has upended the economic cycle and the long public equity bull market. Acknowledging that the length and depth of a crisis triggered by a new virus will likely be different from one triggered within the financial industry, it is worth reviewing how increases to private equity allocations historically performed when undertaken in and around the global financial crisis, as well as the earlier bursting of the technology bubble. Specifically, how did investors fare who increased their allocations to PE in relation to these events?