Asset Owners

As a flood of capital pours into global private markets, the task of deploying it in the most promising funds and asset classes has become increasingly challenging. Sovereign wealth funds, family offices, and other public and private institutions turn to Bella as a trusted partner to help them navigate the uncertain waters of private market investing. We work closely with senior management to tailor solutions that address the unique circumstances of each client, whether large public pension funds or boutique family offices. Bella helps clients identify and avoid hazards along every step of the investment process, from establishing new private capital investment programs through asset allocation and program assessment.

Solutions

Understanding PEVC

Understanding PEVC

Bella Private Markets helps asset owners understand the intricate dynamics of the alternative assets landscape. Through custom reports and training workshops, Bella works with new entrants and industry incumbents alike to strengthen their awareness of the mechanisms driving PEVC outperformance and keep abreast of the important developments shaping private markets.

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Optimizing the Portfolio

Optimizing the Portfolio

Effectively allocating capital across an alternative asset portfolio requires a deep understanding of the trends shaping industries, regions, and investment strategies around the world. Bella Private Markets provides asset owners with up-to-date analysis and industry insights to help them deploy capital in the funds best-positioned for success. We provide highly-tailored solutions for our clients, ranging from granular portfolio performance assessment and attribution analysis to risk correlation modeling and custom training and workshops.

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Assessing Performance

Assessing Performance

It’s important for asset owners to measure and benchmark the performance of their private capital portfolios, but in a time when roughly 80% of funds claim to be top quartile the task of accurately assessing performance is not straightforward. Using a detailed quantitative approach, Bella Private Markets analyzes asset owners’ portfolios on a granular level to identify the most effective strategies and help address areas of underperformance.

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Representative Projects

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Establishing a PEVC Program

jars of coins

Establishing a PEVC Program

Client Type: Asset Owner

Solution: Understanding PEVC

We distilled key insights from academic and industry research as well as our founding partners' decades of experience to provide a multinational corporation with a thorough introduction to the private equity industry and help its management team develop a strategy to enter the private equity space.
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Latest Insights on Global PE Investing

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Latest Insights on Global PE Investing

Client Type: Asset Owner

Solution: Understanding PEVC

We produced a comprehensive guide to current thinking and best practices in private equity investing for a large institutional investor. The research touched on various topics such as return premiums, risk assessment, and performance persistence.
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Workshop on PEVC Incentive Structure

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Workshop on PEVC Incentive Structure

Client Type: Asset Owner

Solution: Optimizing the Portfolio

We developed and conducted a one-day workshop for a major institutional investor's investment team. The workshop focused on the incentive structures involved in PE limited partnerships, the impact of these incentives on fund manager behavior and performance outcomes, and the implications of incentives on fund selection.
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Optimizing Limited Partner PEVC Portfolios

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Optimizing Limited Partner PEVC Portfolios

Client Type: Asset Owner

Solution: Optimizing the Portfolio

In a multifaceted project, we performed a comprehensive evaluation of the investment activities of a large institutional investor and provided a series of quantitative tools to help the group optimize its private capital portfolio moving forward. We assessed and benchmarked the group's returns across different geographies and asset classes, and examined the impact of exchange rate fluctuations on the private capital portfolio's performance. We also assessed the relative value generated in various steps of the group's asset allocation process, such as allocating assets across regions, strategies, and fund managers. Additionally, we examined issues surrounding the optimal number of funds in the private capital portfolio, the selection of top performing fund managers, and the identification of the most promising regions in which to invest.
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Data-Driven Portfolio Allocation

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Data-Driven Portfolio Allocation

Client Type: Asset Owner

Solution: Optimizing the Portfolio

We developed a methodology to help a major North American institutional investor quantitatively assess industry conditions and trends to inform future allocation decisions across geographies and industries.
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Evaluating a Family Office PEVC Portfolio

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Evaluating a Family Office PEVC Portfolio

Client Type: Asset Owner

Solution: Assessing Performance

We conducted a comprehensive performance assessment of the private capital portfolio of a family office, measuring and benchmarking performance across different geographies and asset classes. We also performed custom research on topics surrounding PE investing, such as succession within PE firms and the competitive dynamics of the industry.
road through village

Investing in Frontier Markets

road through village

Investing in Frontier Markets

Client Type: Asset Owner

Solution: Assessing Performance

We evaluated the performance of a development finance institution's investments in pre-frontier market VC funds and offered specific recommendations on how to enhance the program moving forward. We conducted over 80 interviews of fund managers, portfolio company managers, government officials, bankers, and other subject matter experts to supplement the sparse data and provide a detailed snapshot of the impact of each fund.
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The Impact of Early Stage Investing

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The Impact of Early Stage Investing

Client Type: Asset Owner

Solution: Assessing Performance

We analyzed the impact of a major development finance institution’s investments in three different VC funds across Latin America. Through extensive research and interviews with more than 60 investment professionals and portfolio company CEOs, we created case studies of the funds, profiled key portfolio companies, and provided tactical recommendations to support future investment activities and streamline internal impact assessment procedures.
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Direct Investing Versus Fund-of-Funds Strategy

abstract fragment orange, yellow, green

Direct Investing Versus Fund-of-Funds Strategy

Client Type: Asset Owner

Solution: Assessing Performance

We investigated the impact of a large development finance institution's global emerging markets investment strategy. Based on interviews, data analysis, and extensive secondary research, we determined the lessons to be learned from a fund-of-funds strategy relative to a direct investment approach.