Insights with Impact

Insights That Matter

Welcome to the hub of our latest thinking and research. At Bella, we are committed to providing insights with impact. Dive into our collection of published reports, discussions with industry experts, and timely research to gain a deeper understanding of the forces shaping private markets.

Who wins and who loses after a buyout?

Introduction In July 2019, Senator Elizabeth Warren introduced the Stop Wall Street Looting Act, a bill she framed as a response to the private equity...

Who’s investing in private equity? A look at limited partner risk profiles and asset allocation

Limited partners (LPs) are the backbone of private equity (PE) markets, providing the capital that general partners (GPs) deploy across investments. Yet the term “LP”...

AAPI-owned asset management firms: a definitive report on fund outperformance and representation

The fifth AAAIM and Bella Private Markets study finds that funds managed by AAPI-owned firms consistently outperform their non-AAPI peers across every asset class studied,...

Communicating performance: textual and financial disclosures in private equity

New research co-authored by Josh Lerner, with Fiona Paine and Antoinette Schoar, finds that GPs know the relative quality of their portfolio companies early: in...

Beyond the blind pool: how private asset-backed structured products reshape risk and return

Private asset-backed structured products — particularly collateralized fund obligations (CFOs) — transform portfolios of private assets into securities with distinct risk-return profiles. We examine how...

What interim valuations actually tell you

Distributions have been stuck near 14 to 15 percent of NAV since late 2022, and LPs are questioning the marks they hold. New NBER research...

Vintage returns and the fundraising signal: what LPs should (and should not) read into a weak cohort

The 2020–2022 vintages rank among the weakest of the past two decades, and some LPs are pulling back. The historical record argues against it: weak...

Continuation vehicles: what the preliminary research says

Continuation vehicles have gone from five transactions in 2018 to 85 in 2025. We review what the first wave of empirical research — including the...

Is brand strength linked to firm valuation? Evidence from consumer survey data

A Bella Private Markets research partnership with Tracksuit and WestCap, analyzing 675 company-month observations across 23 public companies to test whether stronger consumer brand perception...

The rise of the total portfolio approach

The rise of the total portfolio approach In November 2025, the California Public Employees’ Retirement System (CalPERS) made headlines among allocators in formally adopting the...

Feeling inspired? The LP-to-founder track is more common than one might expect

While venture capital (VC) has long been recognized as playing an important role in scaling innovative startups and developing broader entrepreneurial ecosystems, the mechanisms through...

Exit stage right: private equity’s path back to liquidity

Exit stage right: private equity’s path back to liquidity The private equity market has undergone a dramatic transformation over the past several years. Following the...

Delivering Results Around the Globe

0 +

Client Countries

Bella’s global reach spans 30+ countries and 6 continents

0 +

Clients Served

Bella has helped new and established groups alike from across the private market spectrum

$ 0 T+

Combined Client AUM

Bella’s clients range from first-time funds to multi-trillion-dollar financial institutions

0 +

Years Active

Bella has built longstanding relationships with private capital leaders over its decade-plus of advising the industry

Why Choose Us?

Tailored Solutions

Our services are customized to address your specific financial challenges and sector, enabling you to implement effective strategies that lead to success.

Expert Insights

Gain detailed analytics that help you comprehend market trends and consumer behavior. Our insights are reliable, making planning easier and more effective.

Asset Owners

Stewards of long-term capital

Private Capital Managers

Architects of private investment

Public & Policy Institutions

Leaders in policy-driven capital