FTSE StepStone Global Private Market Indices

StepStone’s dataset is built from direct LP commitments and GP reporting, not public disclosures or crowdsourced inputs. This institutional-grade data captures real-time fund activity such as capital calls, distributions, NAV updates, and FX movements. Unlike traditional datasets that rely on quarterly reporting, StepStone’s integration with LPs and GPs enables high-frequency updates StepStone validates fund NAVs and cash flow data before delivery to FTSE Russell. While the data that StepStone delivers to FTSE Russell is anonymized, the data reflects actual fund-level performance and is adjusted for restatements. The methodology aligns with private markets inputs and incorporates safeguards such as monthly recalculations to address revisions. This seeks to ensure the indices remain reflective of current market conditions.—critical for constructing daily indices.

FTSE Russell applies its established governance framework, including independent advisory committees, published ground rules, and monthly restatement protocols. Index values are recalculated and restated for the past three months on the last trading day of each month to reflect any corrections or GP revisions. This approach balances transparency with practical usability, ensuring the indices remain robust and compliant with IOSCO Principles.

StepStone anonymizes and validates fund NAVs and cash flow data before delivery to FTSE Russell. While FTSE Russell does not look through to individual fund valuation practices, the data reflects actual fund-level inputs and is adjusted for restatements. The methodology aligns with private markets inputs and incorporates safeguards such as monthly recalculations to address revisions. This seeks to ensure the indices remain reflective of current market conditions.

Daily rebalancing allows the indices to incorporate new data as it becomes available, including NAV updates, cash flows, and FX adjustments. While private fund data may have inherent lags, the methodology uses the latest available inputs and applies calibration techniques (in the Daily Market methodology) to estimate intra-period performance. This enables more responsive benchmarking, particularly useful for interval funds, semi-liquid structures, and daily NAV estimation in product design.

We cover the broad private markets landscape, including private equity, private infrastructure, private real estate, and private debt – with drilldowns across strategy, region, currency and vintage. With this granularity, we can construct customized indices by applying client-specific weights matching strategic asset allocation plans or portfolio exposures.