Measuring What Matters: Benchmarking for the Year Ahead
As a new year begins, allocators face a deceptively simple question: How do we measure success in a market that keeps changing?
In public markets, benchmarking is straightforward. Returns are compared against widely accepted indices. Risk is assessed through volatility and expected loss. Performance can be observed daily.
Private markets are different.
From Data to Decisions: The Role of Research in Private Market Strategy
Private markets are opaque. Performance assessment is complex. Reporting is inconsistent. Every allocator faces unique constraints. In this environment, sound decisions are grounded in empirical analysis rather than intuition alone.