State Street Corporation has launched the State Street Private Equity Index, based on the latest quarterly statistics from State Street Investment Analytics’ Private Edge Group.
Comprising of data including more than 1,300 private equity partnerships with a total fund size in excess of $1.1 trillion, the State Street Private Equity Index will allow private equity investors to evaluate their performance against their peers across a sample of investments. Unlike other indices, the State Street Private Equity Index does not rely on voluntary reporting of cash flows from general partners in order to calculate returns.
“The industry has been seeking a more robust source of comparative information for private equity performance and more importantly, peer group analysis. Private equity investors now have a benchmark as well as an additional layer of transparency to analyse their private equity holdings,” says William Pryor, senior vice president, State Street.
The State Street Private Equity Index includes data derived from the client base of The Private Edge Group covering public and private pensions, endowments and foundations, representing more than 4,000 commitments totaling over $150 billion.
“The industry has long awaited a third party private equity index based on consistent and reliable data. State Street’s index will be a tremendous asset in evaluating our holdings which will provide us the information necessary to make strategic business decisions,” says Chris Ailman, chief investment officer, CalSTRS.