Knowledge Base
Investment platforms, performance tracking, portfolio analytics, and the infrastructure for managing a serious investment portfolio.
54 articles in this category — page 4 of 5
Permanent capital private equity structures hold assets indefinitely, without the 7-to-10-year liquidation clock that governs traditional closed-end funds. For investors who have already built significant wealth, that structural difference matters more than it sounds: it removes the forced-exit prob
The MSCI Minimum Volatility Index is a rules-based equity index designed to deliver the lowest possible portfolio variance from a given stock universe, subject to constraints on sector, country, and factor exposures. It is not simply a list of "calm" stocks. It is a mathematically optimized portfoli
Private equity multiples are the shorthand language of deal valuation: ratios that compress a company's financial profile into a single number you can compare across deals, sectors, and vintages. The most important thing to understand upfront is that no single multiple tells the full story. Entry mu
MSCI GICS, the Global Industry Classification Standard, is the taxonomy that organizes every publicly traded company into one of 11 sectors, 25 industry groups, 74 industries, and 163 sub-industries based on its principal business activity and primary revenue source. MSCI and S&P Dow Jones Indices d
If you're a limited partner evaluating private equity funds, the question of which portfolio monitoring platform a GP uses is not a software procurement issue. It's an operational due diligence signal. Chronograph and its main competitors, including eFront (BlackRock), iLEVEL (iCapital), Burgiss (MS
GIC's private equity portfolio is one of the most studied in institutional finance, and for good reason. The Government of Singapore Investment Corporation manages over $700 billion in assets, with private equity consistently representing 13–17% of total AUM, according to the Sovereign Wealth Fund I
TVPI (Total Value to Paid-In Capital) is the ratio that tells you, in a single number, how many dollars a private equity fund has generated for every dollar you committed. It combines cash already returned to LPs with the current estimated value of unrealized holdings. For anyone allocating $1M+ to
The average IRR for private equity sits in the 13–15% range net of fees over long-run horizons, according to Cambridge Associates benchmark data. But that headline number obscures more than it reveals. Dispersion between top- and bottom-quartile managers runs 500–700 basis points, making manager sel
The private equity distribution waterfall is the contractual mechanism that determines who gets paid, how much, and when, as capital flows out of a fund. Get the waterfall terms wrong when committing capital, and you can watch a fund post strong gross returns while your net IRR disappoints. Every LP
Private equity league tables rank firms by capital raised, deal volume, or fund returns, but those three metrics rarely agree on who the best managers are. For a qualified purchaser committing $500K to $2M into PE as part of a $5M+ portfolio, understanding what a league table is actually measuring,
IRR in private equity is the discount rate that sets the net present value of all fund cash flows to zero. It accounts for both the magnitude and timing of every capital call and distribution, expressing total performance as a single annualized rate. That time-sensitivity is what makes it the indust
The private equity harvest period is the exit stage of the private equity investment lifecycle, when fund managers convert portfolio company ownership into cash distributions for limited partners. It typically runs 3 to 5 years, but that framing understates the real range. According to Preqin's 2024