Market index provider FTSE Russell and private markets investment firm StepStone Group have launched the first fund-level benchmarks to provide daily performance insights for global private markets, the FTSE StepStone Global Private Market Indices.
The launch aims to address reporting lags and fragmented datasets challenges by offering daily, mark-to-market estimates instead of quarterly updates, according to the provider. The indices combine StepStone’s private funds data with FTSE Russell’s index design, delivering a clearer and timely view of private market activity.
The initiative lays the foundation for index-tracking investment products and supports total portfolio benchmarking when integrated with FTSE Russell’s public market index suite, shared the provider.
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The first indices will track major strategies and regions using two methods: one adjusts daily for cash flows and currency changes, while the other estimates daily values by linking private market data to public market trends and past performance patterns.
Gerald Toledano, global head of equity and multi-assets at FTSE Russell, commented: “Today’s launch reinforces FTSE Russell’s position as a leader in alternative asset class indexing by delivering next-generation private market benchmarks. By integrating StepStone’s proprietary private markets data, alongside our index engineering capabilities, we’re setting a new standard for rules-based and consistent benchmarking in this growing asset class. The new indices transform how private assets are benchmarked, giving asset owners faster insights on their portfolios, and creating the ideal set of benchmarks for evergreen fund managers and investors.”
Tyler Johnson, partner and chief technology officer at StepStone, commented: “The convergence of public and private markets is accelerating the demand for timelier insights into private markets. These new indices deliver daily mark-to-market estimates for private markets funds – an innovation we pioneered in our semiliquid solutions. By leveraging the vast dataset within our proprietary SPI by StepStone platform and combining it with FTSE Russell’s deep expertise in index creation and management, we’re enabling novel benchmarking, valuation, and modeling capabilities for all market participants. This collaboration creates a new standard for how investors can integrate private markets into their total portfolio view with greater precision.”
