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Other Capital Allocators

Expert Guidance for Financial Growth

Bella advises private capital leaders on complex fund strategy decisions, integrating academic frameworks with real-world institutional experience.

Challenges Facing Other Capital Allocators

Other institutional allocators operate within highly specific mandates, risk models, and regulatory frameworks—demanding tailored solutions that balance flexibility with discipline.

  • Navigating hybrid mandates that mix liability matching, return targets, and public accountability
  • Integrating private capital strategies into traditionally liquid-focused models
  • Operating with specialized internal teams but limited bandwidth for illiquid asset oversight
  • Aligning internal constraints (duration, capital charges, liquidity) with opportunity pacing
  • Communicating strategy across matrixed or multinational governance structures
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How We Support Other Capital Allocators

Bella works with non-traditional allocators to build bespoke capital strategies that reflect their mandates, balance sheet constraints, and governance environments. Our tools support investment clarity, cross-border consistency, and precision pacing.

Mandate Decomposition

Break down hybrid objectives into actionable sub-portfolios and pacing strategies to manage multiple return and risk targets.

Custom Operating Models

Build execution and oversight structures suited to matrixed teams, multinational requirements, or third-party management.

Stress Testing & Scenario Planning

Model capital program resilience under policy changes, regulation shifts, or market disruptions specific to the allocator’s sector.

Portfolio Integration Planning

Help integrate new private capital strategies into legacy platforms without misalignment in duration, liquidity, or reporting.

Cross-Stakeholder Communication

Create dashboards and documentation for communicating strategy across internal silos, external auditors, and regulators.

Past Work

See our Expertise in Action

In partnership with the Knight Foundation, we produced a series of groundbreaking reports that quantified the representation and performance of diverse managers in the U.S. asset management industry. Cited in countless media reports and other academic articles, this body of work provided the first ever comprehensive benchmark for diversity in the U.S. asset management industry. Read more here.
Knight Foundation Representation Study
Since 2020, we have worked with the Association of Asian American Investment Managers on a series of research initiatives aimed at quantifying the representation and performance of AAPI managers in the U.S. asset management industry. The reports’ findings have been published in numerous outlets, and the most recent can be found here.
AAAIM Manager Performance Studies
We closely mapped the evolution of VC investment activity in low-earth orbit, with a special focus on interactions involving the International Space Station. Based on extensive research and interviews, the final report described historical activity and recent changes, noting the activity of privately funded work in nano- and micro-satellites, non-government launch vehicles, and launch concierge services. The final report is included in a NASA publication.
NASA-Published Economic Development Report
We worked with Victoria, Australia’s startup agency, LaunchVic, to structure a public-private investment fund to encourage the development of an entrepreneurial ecosystem. Based on extensive on-the-ground and secondary research, our recommendations balanced the program's need for financial sustainability with the goal of activating significant risk capital for early-stage ventures. Read more here.
Entrepreneurial Ecosystem Development
We worked with a government agency tasked with improving the innovation ecosystem within the nation by improving the pipeline of entrepreneurial businesses and attracting both domestic and foreign capital to fund these initiatives. Backed by academic insights and custom research, we prepared a detailed series of policy recommendations for structuring various public/private initiatives to catalyze innovation and mobilize private capital.
National Entrepreneurial Ecosystem Capital Mobilization
We have worked with a number of entrepreneurs to assist in valuing their businesses using a mix of market- and cash flow-based methods; considering financing options from different types of capital providers; providing guidance throughout the deal structuring process; and supporting entrepreneurs as they grow their businesses against the backdrop of increasingly complex private capital markets.
Business Valuation for Entrepreneurs
We worked with a government-funded financial education authority to develop and host a multi-day, in-person educational conference for senior policymakers and investors active in private markets. Topics included an overview of the current private capital landscape, best practices in manager and deal evaluation, exit routes and liquidity mechanisms, and the potential impacts of recent innovations in private markets.
Multi-Day Private Markets Conference
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.
DFI Investment Performance
Answers to Frequently Asked Questions

Common Questions About Private Markets Capital Allocation consulting for Other Capital Allocators

Bella supports specialized institutions in designing private market programs that reflect unique mandates, risk tolerances, and operational models. Whether you’re an insurance company with regulatory capital considerations or a corporate fund with balance sheet exposure, we tailor strategy, pacing, and governance frameworks accordingly. Our process balances flexibility with discipline. This enables allocators to expand private market exposure responsibly.

Bella offers rigorous, data-backed methodologies that translate policy goals into investment filters and outcome metrics. We support clients in structuring blended finance vehicles, catalytic capital strategies, and public-private partnerships. Our impact analysis capabilities ensure that mission-linked investments maintain both accountability and institutional integrity. This empowers allocators to lead in values-based investing while preserving transparency.

Bella designs stress-tested capital modeling frameworks that account for regulatory buffers, claim profiles, and balance sheet obligations. We model drawdown scenarios and pacing profiles that help ensure solvency and cash flow alignment under various market conditions. Our tools are tailored to the unique constraints of liability-driven allocators. This gives corporate or insurance-linked investors confidence in navigating illiquid asset classes.

Hybrid allocators often face layered oversight, internal silos, or mixed mandates. Bella develops governance models that establish clear authority, escalation paths, and cross-functional alignment. We help institutions build clarity across investment committees, policy teams, and external partners. This supports timely execution without compromising control or accountability.

Bella supports manager sourcing and due diligence tailored to allocator size, mission, and capacity. We help clients identify differentiated GPs, negotiate structures, and develop long-term GP relationships—even at smaller check sizes. Our institutional reputation and market access help open doors to high-performing opportunities. This expands allocator reach without overstretching resources.

Who We Help

Expertise Translated into Real Results

Asset Owners

Stewarding Capital to Secure the Future

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Sovereign Wealth Funds

Strategic Insight for State-Led Investment

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Endowments & Foundations

Aligning Mission with Market Strategy

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Family Offices

Clarity for Generational Wealth Strategies

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Pension Funds & Insurers

Transparent Strategy for Meeting Obligations

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Private Capital Managers

Integrating Strategies for Diversified Growth

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Private Equity

Sharper Strategies for Smarter Private Equity.

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Venture Capital

Guiding Strategy from Seed to Scale

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Funds-of-Funds

Expert Guidance for Financial Growth

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Multi-Asset Managers

Strategic Guidance for Complex Multi-Asset Portfolios

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Market Participants

Guiding Markets Through Evidence-Based Policy

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Governments

Helping Governments Navigate Private Market Ecosystems

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Service Providers

Empowering Private Capital Solutions

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Industry Groups

Helping Build Private Market Understanding Through Custom Thought Leadership

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Development Finance

Catalyzing Growth with Mission-Driven Capital

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How We Help

Customized Private Market Solutions

Consulting & Advisory

Expert Guidance for Sustainable Growth

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Simulation & Benchmarking

Empowering Data-Driven Decisions

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Research

Illuminating Private Markets

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Impact Analysis

Understanding The Broader Impacts of Private Capital

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Policy Assessment

Evidence-Based Policy Insights

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Training & Workshops

Transforming Expertise into Action

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Ready to get started?

At Bella Private Markets, we are dedicated to providing world-class insights and analyses to help you navigate the complexities of the private market landscape. Our expert team is here to assist you through our consulting services, impactful research, and tailored training programs to help empower institutional decision-making.

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