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When
was
your
private
investment
fund
last
marked
to
market?
SIPA Data suggests that the underlying buyout market (Asset level) is as much as 40% below the performance reported by buyout funds. The Private2000 index reflects the latest level of transactions but exit prices are not always being reflected by the new buyers. . . .
Reserve your complimentary seat for this high-impact event focused on data-driven innovation in private markets exploring cutting-edge approaches to performance measurement, GP selection, and product design in private equity and infrastructure. . . .
The private2000 Index is a global benchmark tracking the performance of 2,000 unlisted private companies across 30 key markets, designed to reflect the structure and risk-return characteristics of the private equities market. . . .
The 2025 PE League Tables are out: GP ranking and rating are primarily based on their ability and tendency to generate alpha i.e., to outperform the market during the 2013-2023 period. . . .
This report uses a decade of private fund performance data in combination with the privateMetrics® market indices and benchmarks to compute the market outperformance of 600 buyout funds and their managers, as well as their ability to keep generating alpha. . . .
Private Equity EBITDA Multiples (unadjusted) by Segment and Region
16.92x
0.02
Asia
 Jul 2025
18.51x
-0.18
Retail
 Jul 2025
14.42x
-0.23
Private2000
 Jul 2025
12.06x
-0.25
Hospitality and entertainment
 Jul 2025
13.52x
-0.32
United States
 Jul 2025
15.98x
-0.12
Professional and other services
 Jul 2025
13.24x
-0.31
Education & public
 Jul 2025
10.31x
-0.15
Natural resources
 Jul 2025
16.73x
-0.18
Financials
 Jul 2025
18.2x
-1.11
Health
 Jul 2025
19.61x
-0.74
Transportation
 Jul 2025
15.88x
-0.14
Information and communication
 Jul 2025
15.86x
-0.1
Europe
 Jul 2025
17.93x
-0.13
Real estate and construction
 Jul 2025
13.39x
-0.17
Manufacturing
 Jul 2025
1615.99
 USD
-3.73%
Infra100® GBP-denominated Debt, VW USD
 Jul2025
8877.10
 USD
-1.87%
Infra100® Energy, VW USD
 Jul2025
1588.68
 USD
-3.5%
Infra100® EUR-denominated Debt, VW USD
 Jul2025
4859.56
 USD
-4.72%
Infra100® UK, VW USD
 Jul2025
6859.07
 USD
-2.88%
infra300®, VW USD
 Jul2025
3398.50
 USD
-2.82%
Infra100® Midmarket, VW USD
 Jul2025
11778.77
 USD
-2.63%
Infra100® Project Finance, VW USD
 Jul2025
3462.68
 USD
-2.35%
Infra100® Core+, VW USD
 Jul2025
4803.16
 USD
-3.15%
Infra100® Eurozone, VW USD
 Jul2025
1857.00
 USD
-2.38%
Infra300® Debt, VW USD
 Jul2025
6666.86
 USD
-2.48%
Infra100® Global, VW USD
 Jul2025
1611.36
 USD
-3.73%
Infra100® UK Debt, VW USD
 Jul2025
1766.29
 USD
-3.5%
Infra100® Europe Debt, VW USD
 Jul2025
4496.46
 USD
-2.87%
InfraGreen® , VW USD
 Jul2025
1422.32
 USD
-2.75%
InfraGreen® Debt, VW USD
 Jul2025
10673.77
 USD
-3.15%
Infra100® Opportunistic, VW USD
 Jul2025
5470.14
 USD
-3.86%
Infra100® Europe, VW USD
 Jul2025
2909.49
 USD
-2.75%
Infra100® Core, VW USD
 Jul2025
1821.81
 USD
-2.01%
Infra100® Global Debt, VW USD
 Jul2025
1966.11
 USD
-2.18%
Infra100® Project Finance Debt, VW USD
 Jul2025
1543.40
 USD
-3.27%
Infra100® Eurozone Debt, VW USD
 Jul2025
privateMetrics® Market Indices
4453.41
 USD
-2%
privateUS, VW USD
 Jul 31, 2025
3889.17
 USD
-2.25%
private2000, VW USD
 Jul 31, 2025
4025.75
 USD
-2.46%
privateEurope, VW USD
 Jul 31, 2025
"The only benchmarks to compare funds with private asset markets."
SIPA market indices and benchmarks measure the risk and performance of private asset markets that are much larger than the holding of private equity and infrastructure funds. they allow for a genuine comparison of fund and manager performance against the a relevant, transparent and up-to-date benchmark.
Understand the sources of performance and alpha
When used in combination with the Direct Alpha method, the privateMetrics® benchmarks clearly discriminate between those private funds that can generate positive alpha and those that do not.
Measure the risk and the performance of private markets
privateMetrics® market indices and benchmarks are designed to capture the latest level of market prices using an advanced, AI-driven asset pricing model, providing high frequency, robust risk and performance data.
Instead of comparing funds and managers with each other in (often) weak peer groups, infraMetrics is the surest way to decide which funds and which GPs are the best at creating private asset value.
Install the privateMetrics® Add-in from Microsoft AppSource (directly from MSExcel) and access all the privateMetrics functionalities including custom benchmarks, customised comparables, fund alpha calculation, index catalogue, TICCS and PECCS taxonomies etc. Some features require a subscription.
Our Excel Add-in is a powerful way to access privateMetrics data.
Are you ready to dive deep into private markets?
Follow our Podcast on Private Market Benchmarking. New Episodes weekly.
Our Research
R&D of the EDHEC Infrastructure & Private Asset Research Institute
Since 2016, the EDHEC Infrastructure & Private Assets Research Institute has been producing research on private asset pricing, risk management, credit risk and climate risk measurement. While some of this research has now been industrialised and is distributed by our corporate arm, Scientific Infra & Private Assets, we continue to develop new applied research in the field of investment and private markets, with a focus on machine learning and language processing.
SIPA organises weekly "Blitizinars", open online meetings to present and discuss new research and data in 15 minutes + Q&A. Efficient and useful. We also run longer webinars and seminars that address our data and methodologies in depth and provide current and future users of privateMetrics the insights they need to navigate private market benchmarking.
Join us at the Infrastructure Investor: Investor Forum in London on 9-10 September, 2025 for two days of networking and game-changing insights.
On the first day at 10.00am, Abhishek Gupta, Head
Event Details
Join us at the Infrastructure Investor: Investor Forum in London on 9-10 September, 2025 for two days of networking and game-changing insights.
On the first day at 10.00am, Abhishek Gupta, Head of Product at Scientific Infra & Private Assets (SIPA), will be participating in a panel session on “Diversification through infrastructure: Balancing core and value-add assets” which will examine the following topics:
Infrastructure as a safe haven: How diversification strengthens portfolios, especially in uncertain markets
How to manage concentration risk by balancing exposure to digital infrastructure and the energy transition
Investor perspectives on the “right mix” of core and value-add infrastructure assets to achieve long-term resilience and sustainable returns
More information about the event and registration here.
Location
St. Pancras Renaissance Hotel, London, United Kingdom
Come and connect with us at the 8th Private Equity Europe Forum in London on 16-17 September, 2025!
At the event, Abhishek Gupta, Associate Director and Head of Product Development at
Event Details
Come and connect with us at the 8th Private Equity Europe Forum in London on 16-17 September, 2025!
At the event, Abhishek Gupta, Associate Director and Head of Product Development at Scientific Infra & Private Assets (SIPA), will be hosting a roundtable discussion on “Measuring Risk and Value in Private Equity Markets”.
The 8th Private Equity Europe Forum is the premier European event designed to enhance financial and investment practices while fostering collaboration within the private equity community and gain actionable insights for the future. Industry leaders will discuss the evolving landscape of European private equity with key topics to include navigating tax policy and compliance, UK market outlook for 2025, and strategies for adapting to economic shifts and sector-specific opportunities.
Scientific Infra & Private Assets (SIPA) is proud to be a silver sponsor of the forum.
For information on the event, please visit the dedicated web page.
Location
Convene, 133 Houndsditch London, EC3A 7DB, United Kingdom
Markets Group produces in-person and virtual forums that help the investment management industry engage face to face. Founded in 2009, Markets Groups brings together the investment management community for peer driven thought leadership experiences that provide a platform for education, business development and networking.
Come and meet us at IPEM Paris 2025 on 24-26 September, 2025!
At the event, Abhishek Gupta, Head of Business and Product at Scientific Infra & Private Assets (SIPA), will be
Event Details
Come and meet us at IPEM Paris 2025 on 24-26 September, 2025!
At the event, Abhishek Gupta, Head of Business and Product at Scientific Infra & Private Assets (SIPA), will be hosting a breakout session during the LP Congress on 24 September, 2025 from 3.15pm to 3.45pm, entitled “Measuring the Alpha of Private Fund Managers – A Global League Table”.
IPEM Paris is the ultimate global gathering for private capital, uniting leaders from every continent. Each September, private market investors and fund managers converge, creating opportunities across all communities and market segments to drive the growth of private capital.
Join us at the Infrastructure Investor: Investor Forum in London on 9-10 September, 2025 for two days of networking and game-changing insights.
On the first day at 10.00am, Abhishek Gupta, Head
Event Details
Join us at the Infrastructure Investor: Investor Forum in London on 9-10 September, 2025 for two days of networking and game-changing insights.
On the first day at 10.00am, Abhishek Gupta, Head of Product at Scientific Infra & Private Assets (SIPA), will be participating in a panel session on “Diversification through infrastructure: Balancing core and value-add assets” which will examine the following topics:
Infrastructure as a safe haven: How diversification strengthens portfolios, especially in uncertain markets
How to manage concentration risk by balancing exposure to digital infrastructure and the energy transition
Investor perspectives on the “right mix” of core and value-add infrastructure assets to achieve long-term resilience and sustainable returns
More information about the event and registration here.
Location
St. Pancras Renaissance Hotel, London, United Kingdom
Come and connect with us at the 8th Private Equity Europe Forum in London on 16-17 September, 2025!
At the event, Abhishek Gupta, Associate Director and Head of Product Development at
Event Details
Come and connect with us at the 8th Private Equity Europe Forum in London on 16-17 September, 2025!
At the event, Abhishek Gupta, Associate Director and Head of Product Development at Scientific Infra & Private Assets (SIPA), will be hosting a roundtable discussion on “Measuring Risk and Value in Private Equity Markets”.
The 8th Private Equity Europe Forum is the premier European event designed to enhance financial and investment practices while fostering collaboration within the private equity community and gain actionable insights for the future. Industry leaders will discuss the evolving landscape of European private equity with key topics to include navigating tax policy and compliance, UK market outlook for 2025, and strategies for adapting to economic shifts and sector-specific opportunities.
Scientific Infra & Private Assets (SIPA) is proud to be a silver sponsor of the forum.
For information on the event, please visit the dedicated web page.
Location
Convene, 133 Houndsditch London, EC3A 7DB, United Kingdom
Markets Group produces in-person and virtual forums that help the investment management industry engage face to face. Founded in 2009, Markets Groups brings together the investment management community for peer driven thought leadership experiences that provide a platform for education, business development and networking.
Come and meet us at IPEM Paris 2025 on 24-26 September, 2025!
At the event, Abhishek Gupta, Head of Business and Product at Scientific Infra & Private Assets (SIPA), will be
Event Details
Come and meet us at IPEM Paris 2025 on 24-26 September, 2025!
At the event, Abhishek Gupta, Head of Business and Product at Scientific Infra & Private Assets (SIPA), will be hosting a breakout session during the LP Congress on 24 September, 2025 from 3.15pm to 3.45pm, entitled “Measuring the Alpha of Private Fund Managers – A Global League Table”.
IPEM Paris is the ultimate global gathering for private capital, uniting leaders from every continent. Each September, private market investors and fund managers converge, creating opportunities across all communities and market segments to drive the growth of private capital.
