Private Equity Performance Measurement Using PME

ABC Capital is analyzing the performance of its private equity portfolio and is considering various metrics to accurately assess the returns generated. The firm has invested in multiple funds over a ten-year horizon, and it needs to evaluate performance some funds are still active while others have been liquidated. Therefore, the evaluation criteria must adapt to reflect the liquidity and timing of cash flows.

Given these considerations, which performance measurement method is best suited to assess the performance of the funds in this scenario?