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Why pessimistic private markets predictions haven’t come true (but monthly valuation will)

The question of how much private market assets are really worth has more answers than ever with the growing popularity of evergreen funds. But the drive for more and more frequent valuations has to end somewhere. Right?

Lachlan Maddock | 20th Oct 2023 | More
‘You never want to accept how bad it is’: AustralianSuper’s unlisted property problem

AustralianSuper CIO Mark Delaney believes the fund is harder on internal teams than external managers, but says that its unlisted property experience has been “the worst of all worlds”.

Lachlan Maddock | 25th May 2023 | More
Asset allocators back active equities after market meltdown

Institutional investors have come crawling back to equities, according to bfinance, while high growth managers have led the rebound in an “abrupt style reversal”. But hopes for a meaningful market rebound could be misplaced.

Lachlan Maddock | 18th May 2023 | More
  • Private markets deal with the ‘fear effect’

    Private market managers aren’t entirely insulated against falls in the public markets, which have resulted in diminished fundraising activity. But private assets aren’t going to stop outperforming anytime soon.

    Lachlan Maddock | 10th Mar 2023 | More
    What the end of ’30 years of one-way traffic’ means for private markets

    As rates rise and the money fuelled tech bubble pops, private companies – and their investors – are buckling down. The hard question, for which there is no good answer, is about what happens next.

    Lachlan Maddock | 19th Sep 2022 | More
    Asset owners swim the deep end of private markets

    Asset owners haven’t been challenged with a sustained crisis in nearly 20 years, and it’s possible they’ll get one just as they make the jump into markets they’re unfamiliar with. Governance will be key. As inflation climbs and market volatility increases, Rich Nuzum, president of Mercer’s investments and retirements business, says that asset owners need…

    Lachlan Maddock | 16th Feb 2022 | More
  • Calastone, Challenger on the future of operations

    Private markets assets are “ripe for the picking” for fund managers and administrators quick to use distributed ledger technology, as investment operations are on the cusp of “great change”. So said David Mackaway, the COO of Challenger Group, at the Calastone ‘Connect Forum’ last week (December 2. He was interviewed by Justin Christopher, Calastone director…

    Greg Bright | 3rd Dec 2021 | More
    … as PGIM looks at real assets in China

    Prospects for private markets, including real estate and venture capital, are as bright, or brighter, than they are for the public markets in China, according to a PGIM investor event. The US$1.5 trillion global manager, the investment management arm of the Prudential insurance group of the US, held its annual China Investment Symposium, virtually, on…

    Greg Bright | 11th Jun 2021 | More
  • BNP on a roll with new domestic custody business

    BNP Paribas Securities Services has put on about $140 billion of new custody business in the area of sub custody and clearing in Australia in the past 12 months, pushing it up the market share charts. David Braga, the Head of Securities Services for Australia and New Zealand, confirmed last week (May 13) that BNP…

    Greg Bright | 14th May 2021 | More
    Market distortions boost demand for private markets

    Short and long-term factors are benefitting investors and their managers which have either entered the private markets space or expanded their capabilities. To the chagrin of detractors, Australia’s big not-for-profit funds can hang their hats largely on private markets for much of their outperformance. We all know UK based global manager Schroders is very old,…

    Greg Bright | 1st Nov 2020 | More