Global index provider FTSE Russell and private market investment firm StepStone Group today announced the launch of the FTSE StepStone Global Private Market Indices.
This series of innovative fund-level indices represents the first true market barometer for global private markets performance, utilising daily data from StepStone.
These new indices will enable investors to monitor private market trends – with more agility and precision than benchmarks based on quarterly valuations. These indices set the foundation for total portfolio benchmarking when integrated with FTSE Russell’s liquid index range across public asset classes.
The initial cohort of FTSE StepStone Global Private Market Indices are now available in key strategies and regions under two methodologies:
- Daily Cash-Adjusted Indices – a daily benchmark following industry standards in private markets by rolling forward reported NAVs using real-time contribution, distribution, and currency movements.
- Daily Market Indices – a daily, market-calibrated benchmark that extends the cash-adjusted indices by incorporating estimated mark-to-market valuations derived from relevant public market indices and their historical relationships with private market strategies.
Gerald Toledano, Global Head of Equity and Multi Assets at FTSE Russell, commented:
“Today’s launch reinforces FTSE Russell’s position as a leader in alternative asset class indexing by delivering next-generation private market benchmarks. By integrating StepStone’s proprietary private markets data, alongside our index engineering capabilities, we’re setting a new standard for rules-based and consistent benchmarking in this growing asset class. The new indices transform how private assets are benchmarked, giving asset owners faster insights on their portfolios, and creating the ideal set of benchmarks for evergreen fund managers and investors.”
Tyler Johnson, Partner and Chief Technology Officer at StepStone, said:
“The convergence of public and private markets is accelerating the demand for timelier insights into private markets. These new indices deliver daily mark-to-market estimates for private markets funds – an innovation we pioneered in our semiliquid solutions. By leveraging the vast dataset within our proprietary SPI by StepStone platform and combining it with FTSE Russell’s deep expertise in index creation and management, we’re enabling novel benchmarking, valuation, and modeling capabilities for all market participants. This collaboration creates a new standard for how investors can integrate private markets into their total portfolio view with greater precision.”
