Connecting the Dots: True Performance & Risk Visibility in Blended Portfolios
July 25, 2025
Multi-asset managers are steadily increasing exposure to Private Markets and are now finding it necessary to analyze both the risk and performance of their overall portfolios - including indirectly held companies. This shift reflects the growing importance of alternative assets in meeting diversification, total return, and growth objectives.
But Private Markets present new challenges often overlooked by traditional public-market teams, including the following:
- How to calculate a current valuation on indirectly held assets when the last stated valuation is 45 or even 60 days old
- Siloed data sources: Although full system solutions are improving, private-market platforms still often live in isolation from public-market engines, forcing bespoke ETL scripts, API connectors, and manual reconciliations to stitch data together
- Differing taxonomies for sectors and regions
- At worst, a lack of underlying company data collection; at best, inconsistencies and inaccuracies in it
- Historical data cleanliness: It’s not enough to capture cash-flow amounts and dates—you also need the right metadata to tag each event for performance categorization. Private-market data must be spot-on over years to compute IRR, whereas public markets benefit from high-frequency, self-correcting price histories.
Beyond muddying performance metrics, inconsistent data and manual workstreams stall decisions and create operational exposure—risks that grow as you ramp up private-market allocations.
Regulatory Lens
Private equity funds deliver asset details to LPs through investor-only, non-standard notices—capital-call and distribution notices, quarterly NAV statements, portfolio reviews and annual audited reports—instead of public filings in a common format. These bespoke deliverables drive many of the data gaps and misalignments you’re facing today.
How We Help
- Identify User Stories: Map key use cases and identify upfront what metrics and reports each team needs to drive governance rules.
- Normalize & Map: Convert GP statements, fund-administrator reports, and private-market benchmarks, into a unified reference model.
- Automate & Reconcile: Use API-driven pipelines and enqueued processes to keep private and public records in sync.
- Control & Monitor: Define KPI-driven validations and dashboards that flag discrepancies before they become issues.
By combining data normalization and automation, Alpha Alternatives helps firms create a scalable foundation for true total portfolio oversight. This approach unlocks performance insights, ensures regulatory compliance, and empowers investment teams with credible and consistent data needed to make confident investment decisions.
This unglamourous foundational work requires effort—but it is a critical step to take before any Total Portfolio project gets kicked off. By laying this groundwork and performing thorough historical data alignment and cleansing, you’ll set your Total Portfolio project up for success.
What Data-Alignment Hurdles Are You Facing?
Connect with our team to discuss practical steps for building an aligned private-markets data foundation that will achieve real performance visibility across your portfolio.
* Contact Us
"*" indicates required fields