As non-public market property develop into obtainable to extra buyers, a rising variety of asset managers are attempting to launch indices to trace their efficiency. Within the newest instance, world index supplier FTSE Russell and various asset supervisor StepStone Group signed a proposed partnership settlement to develop non-public asset indices, information and analytics merchandise.
In line with Monetary Information, the companies plan to launch their first each day indices later this 12 months.
The announcement follows non-public fairness large BlackRock’s buy of London-based capital markets analysis agency Preqin with the objective of launching a non-public market index. Additionally, final 12 months, capital markets analysis agency MSCI launched its MSCI Personal Capital Indexes, which observe the efficiency of closed-end funds.
FTSE Russell’s and StepStone’s partnership will intention to ship reference indices for a whole spectrum of personal asset lessons. The objective is to permit buyers to raised benchmark the efficiency of their non-public markets portfolios inside a complete return portfolio view, the companies observe. The indices will construct on FTSE Russell’s experience within the design, improvement and administration of indices throughout a number of asset classes and StepStone’s data-driven insights into a number of non-public market asset lessons.
Each StepStone and FTSE Russell declined to touch upon the partnership immediately at the moment.
In an official assertion asserting the deal, Mike McCabe, head of technique with StepStone, famous, “As non-public markets have develop into extra significant elements of buyers’ portfolios, the necessity for integrating views of danger and return throughout the entire portfolio has develop into vital for funding choice makers. With a rising portion of the worldwide economic system remaining non-public not just for longer, however probably indefinitely, we have to pave a pathway for additional easing the entry to differentiated sources of funding returns. Partnering with FTSE Russell will unleash the facility and scale of our non-public markets information—contained inside our proprietary expertise platform, SPI by StepStone—to drive these objectives ahead.”
StepStone, which has $189 billion in AUM, launched SPI by StepStone in fall 2023. The non-public markets intelligence platform permits buyers to trace the efficiency of their portfolios and underlying property in actual time, mannequin future money flows and entry evaluation of market tendencies. In line with StepStone, the platform was analyzing over 25,000 in investor commitments encompassing over $1.1 trillion as of March 31, 2025. It additionally offers customers entry to deal-level and working metrics benchmarking, together with buy value and leverage multiples, fairness contributions and worth creation, in addition to authorized phrases benchmarking.
Additionally in an official assertion, Fiona Bassett, CEO of FTSE Russell, mentioned, “With the continued development in non-public asset allocation and rising consumer demand, it’s important for us not solely to ship main indices on this asset class however to work with companions aligned to our dedication to transparency, rules-based methodologies, sturdy information provenance and investability. With StepStone’s broad, in-depth non-public markets dataset, now we have chosen a terrific accomplice with which to construct this providing.”
