Matthew Roche Discusses Private Equity Struggles
Matthew Roche, a partner with StepStone Group, stated that it has been a tough four years for private equity, according to Buyouts Insider. He explained that this situation has made DPI equivalent to IRR today, emphasizing that it is not a new IRR but simply IRR today.
The Quote from Roche
In the article, Roche specifically said, ‘It’s been a tough four years for private equity… and it’s why DPI is IRR today – not the new IRR – it is IRR today,’ as reported by Buyouts Insider. This comment was made in the context of structures in LP sales helping to bridge slow exits.
Background on the Article
The piece was published on March 12, 2026, by Chris Witkowsky and includes tags such as Interview, NEXUS 2026, Secondaries, and US. As is widely known in private equity, DPI and IRR are standard metrics for measuring returns, though the source does not elaborate further on their definitions.
