"These indexes provide a panoramic view of private capital investments, as they are constructed from a dataset that is entirely LP-sourced and MSCI-enriched with research-based insights. Transactions are sourced through limited partner clients, with supplemental data being continuously gathered from original source documents provided by managers," Smith said. "This is uniformly classified and checked, and augmented with extensive research. Only funds with complete inception to date history and daily cash flow precision history are included. The dataset effectively represents the opportunity set of private capital investments in an unbiased way because it is sourced solely from limited partners around the world who rely on MSCI’s data and analytics services to manage their private capital portfolios. No data is sourced via voluntary manager data submissions, web scraping, or Freedom of Information Act (FOIA) requests,” Smith said.

Who are these indices aimed at?

“Institutional investors can leverage these indexes for policy benchmarking, strategic asset allocation, and to help achieve long-term financial goals. The indexes enable MSCI’s broad range of clients to understand the recent quarterly returns and historical, net-of-fees investment performance in the indexes’ extensive universe of closed-end private capital funds, covering private equity, private credit, private real assets, and funds of funds," Smith added.