By Zane Carmean, CFA, CAIA, Lead Research Analyst, Quantitative and Fund Research, PitchBook & Emily Zheng, Senior Research Analyst, Venture Capital, PitchBook Introduction[1] The playbook of many private capital firms has been largely the same since the market’s early modernization in the 1960s. An investment firm will typically form a limited partnership, themselves […]
By Shaul Rosten, Analyst, Redwheel Ah, January. Just the word sends shivers of excitement down the spines of gym-proprietors across the world, salivating at the prospect of New-Year’s resolutioners confidently paying for a full year’s membership, only to slink away sometime in March. Yes, it is the season for attempting to better oneself, working […]
By Claire Sawyer, Associate Director of Content Development, CAIA Association Life moves fast, and we get it—you can’t always find the time to tune in to every episode of the Capital Decanted podcast. That’s why we’ve distilled the key takeaways from our latest episode into this quick-read summary. Whether you’re curious about the topic or […]
By Massimiliano Saccone, CFA, Founder & CEO, XTAL Strategies For many years, the definition of private market performance seemed inevitably reduced to hazardous time-weighting approximations. The calculation hurdle of the presence of interim cash flows looked insurmountable, so much so that, in the private markets, it became perfectly acceptable to neglect the basic rules of […]
by David Moreno, CFA, Indexes Manager, EPRA Emerging markets often present a unique blend of challenges and opportunities for investors. While marked by volatility and political uncertainties, these markets offer avenues for diversification and growth, especially in the listed real estate sector. The FTSE EPRA Nareit Emerging Index reflects these dynamics, showing an increasingly diverse […]
By Steve Novakovic, CAIA, CFA, Managing Director of Educational Programming, CAIA Association In Innovation Unleashed: The Total Portfolio Approach CAIA Association highlighted governance as one of the four key dimensions of the Total Portfolio approach (TPA). In the TPA model, the governance structure delegates most authority from the board to the investment team. The one […]
By Massimiliano Saccone, CFA, Founder & CEO, XTAL Strategies One of the useful legacies of the now-vacated SEC’s Private Fund Advisers Rule[i] is a clear and current definition of the purpose of reported performance. Performance metrics should allow investors: “…to compare private fund investments and comprehensively understand their existing investments and determine what to […]
By Max Williams, Co-Founder & COO, Runa Digital Assets Cryptocurrency is often used to refer to all 10,000+ digital tokens issued on blockchain networks. While yes, the asset class originated from creating a digital, decentralized, and non-sovereign form of currency, it has evolved, with many now focused on distributed computing platforms, blockchain networks, and decentralized […]
By Claire Sawyer, Associate Director of Content Development, CAIA Association We know life can get busy, and sometimes you just can’t find the time to tune in to every episode of the Capital Decanted podcast. In this blog post, we’ve summarized our latest episode, giving you all the leading insights without the lengthy listen. […]
By Madison Murphy, Associate, FS Investments & Daniel Wilk, CAIA, Executive Director and Client Portfolio Manager, FS Investments Investors have flocked to private equity secondaries over the last three years, largely driven by the allure of acquiring stakes in private equity funds at deep discounts to NAV. Structural perks like J-curve mitigation and the elimination […]