In response to the proliferation of new private credit strategies and managers, Cambridge Associates has developed a set of benchmarks that will help limited partners assess the performance of new and existing fund manager (general partners).
January 2019
Growth equity continues to offer investors a compelling return profile that combines the downside protection of buyouts with some of the upside potential of venture capital.
January 2019
Yes. At a minimum, investors should consciously consider it. The co-investment “craze” isn’t going away anytime soon—we estimate co-investing currently accounts for nearly one-third of all private investment activity—and there are structural reasons why it will continue, as we will discuss.
November 2018
Although crude oil prices above $100 a barrel will pinch consumer pockets, investor anxiety on this topic is both premature and exaggerated.
October 2018
With underlying assets that provide essential services, infrastructure debt can play a key role in institutional investor portfolios. The asset class offers the possibility of delivering attractive returns, matching long-term liabilities, and diversifying traditional business cycle-sensitive investment holdings. Within infrastructure debt, private debt has been of particular institutional interest, as it offers increased return potential in […]
September 2018
In short, no—their use isn’t going away any time soon. Rather than avoid them, incorporate new elements to more clearly assess the manager’s true investment skill.
June 2018
For investors with private allocations, how one incorporates them into the policy benchmark will materially impact the portfolio’s relative performance, making the choice key to informed decision making. We review the various methodologies used and make a series of recommendations on best practices to follow. In considering the performance of private investments within the total portfolio, we anchor to a set of principles: keep it simple, don’t treat private investments differently, and make performance evaluation as meaningful as possible.
May 2018
When assessing performance at the aggregate private portfolio and sub-component level, investors should take the long view. In this publication, we review how long funds take to settle into their ultimate quartile ranking and highlight our framework for benchmarking a portfolio of private investments.
May 2018