How Institutional Allocators Can Gain Clarity in Private Markets
How Institutional Allocators Can Gain Clarity in Private Markets Private markets play an increasingly central role in institutional portfolios. For pensions, sovereign wealth funds, endowments, and family offices, private capital offers the potential for differentiated returns, diversification, and long term value creation. Yet these benefits come with real complexity. Opaque data, irregular cash flows, wide […]
From Data to Decisions: The Role of Research in Private Market Strategy
From Data to Decisions: The Role of Research in Private Market Strategy Private markets are built on complexity. Performance is opaque, data is inconsistent, and every allocator faces unique constraints. In an environment defined by uncertainty, informed decision-making requires more than instinct — it requires evidence. At Bella Private Markets, research is the foundation of […]
Forecasting the Future: How Simulation Models Are Transforming Private Market Strategy
From Assumption to Foresight: Why Predictive Modeling Matters in Private Markets Private market investing is fundamentally about the future. Capital is committed today in anticipation of cash flows, valuations, and outcomes that may unfold over a decade or more. Yet for decades, the tools used to guide these decisions have remained anchored in the past. […]
Josh Lerner Featured on CAIA’s Educational Alpha Podcast
Joining CAIA Association CEO Bill Kelly, Josh Lerner kicked off season two of CAIA’s Educational Alpha podcast. Covering private equity topics from commitment strategies to generative AI’s place in private markets, Josh and Bill touch on a number of important questions throughout the episode. Josh also covers industry breakthroughs including advances in cash flow forecasting […]
Private Debt: Seeking Alpha in the Lower Middle Market
In this new whitepaper, commissioned by Heard Capital, Bella Private Markets investigates trends and opportunities in the lower middle market (LMM) of the private debt industry. Private debt fundraising has expanded considerably over the past decade, in part due to regulations that constrain bank lending and interest rate trends. This growth has paralleled and supported […]
AAPI-Owned Firms’ Access to Emerging Manager Programs
Continuing our collaboration with the Association of Asian American Investment Managers (AAAIM) on Asian American and Pacific Islander (AAPI) representation in private markets, a new report was recently released focusing on AAPI-owned firms’ access to emerging manager programs and representation in institutional investor portfolios. Our findings indicate that despite strong performance of AAPI-owned firms, they […]
Private Equity Findings Issue 20
Bella Private Markets collaborated with the Coller Research Institute to produce the milestone twentieth issue of Private Equity Findings, a publication that curates the most important cutting-edge academic research on private equity and brings together leading practitioners to discuss its implications. For this special issue, PE Findings spoke to Josh Lerner, Steven Kaplan, and Antoinette […]
Webinar: AAPI Representation in Asset Management
In collaboration with the Association of Asian American Investment Managers (AAAIM), Bella COO Alex Billias presented research findings alongside Mark Okada, Co-Founder and CEO of Sycamore Tree Capital Partners during a recent webinar. The research explores the representation of Asian Americans and Pacific Islanders (AAPIs) in asset management and was detailed in two reports released […]
Understanding Performance Benchmarking
One of the most vexing questions in private equity is the assessment of investment returns. To extract a meaningful answer regarding its performance, a private equity group must make a number of decisions about methodology and the inclusion and exclusion of data—decisions that limited partners and consultants alike often second-guess. One might think that the […]
Webinar: Cash Flow Forecasting and Predictive Analytics in Illiquid Markets
Following the publication of “Takahashi–Alexander Revisited: Modeling Private Equity Portfolio Outcomes Using Historical Simulations” in The Journal of Portfolio Management, CFA Society Boston hosted a webinar featuring authors Alex Billias and Sam Holt, COO and Principal at Bella, to discuss challenges in liquidity modeling. They explored the strengths and limitations of the industry’s traditional forecasting […]