Global index provider FTSE Russell and private market investment firm StepStone Group today announced the launch of FTSE StepStone Global Private Market Indices.
This suite of innovative fund-level indices represents the first true market barometer of global private equity performance, using daily data from StepStone.
These new indices will allow investors to track private market trends – with greater flexibility and accuracy than benchmarks based on quarterly valuations. These ratios set the foundation for total portfolio benchmarking when integrated with the FTSE Russell liquidity index range across all public asset classes.
The initial group of FTSE StepStone Global Private Market Indices is now available in key strategies and regions with two methodologies:
- Cash Adjusted Daily Indices – a daily benchmark that follows industry standards in private markets by driving quoted NAVs using contributions, distribution and real-time currency movements.
- Daily Market Indices – a daily market-calibrated benchmark that extends cash-adjusted indices by incorporating market-estimated valuations derived from relevant public market indices and their historical relationships with private market strategies.
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 providing next-generation private market benchmarks. By integrating StepStone’s proprietary private market data alongside our indexing capabilities, we are setting a new standard for rules-based and consistent transformation across this new set of benchmarks. It is benchmarked, giving asset owners faster insights into their portfolios and creating the ideal set of benchmarks for green fund managers and investors.”
Tyler Johnson, Partner and Chief Technology Officer at StepStone, said:
“The convergence of public and private markets is accelerating the demand for more timely private markets information. These new indices provide daily mark-to-market estimates for private markets funds – an innovation we pioneered in our semi-liquid solutions. By leveraging the massive proprietary data set of SPI by StepStone with StepStone’s expert creation platform with StepStone’s deep indexes. and management, we enable new benchmarking capabilities, valuation and modeling for all market participants This partnership creates a new standard for how investors can integrate private markets into their overall portfolio with greater precision.