FTSE Russell and StepStone Group launch global fund-level daily private market indices
MWN-AI** Summary
On October 30, 2025, FTSE Russell and StepStone Group announced the launch of the FTSE StepStone Global Private Market Indices, marking a significant advancement in private market performance benchmarking. This series combines StepStone’s proprietary fund-level data with FTSE Russell’s indexing expertise to create the first-ever global benchmark offering daily insights into private market valuations. By providing a timelier and more precise alternative to traditional quarterly reports, these indices respond to the growing demand among investors for better tools to monitor private market trends.
The FTSE StepStone Global Private Market Indices include two methodologies: Daily Cash-Adjusted Indices, which track net asset values (NAVs) adjusted for real-time contributions and distributions, and Daily Market Indices, which incorporate estimates of mark-to-market valuations based on public market indices. This dual approach allows for an accurate and dynamic assessment of private market performance.
Gerald Toledano of FTSE Russell highlighted that the launch sets a new standard in alternative asset class indexing, while Tyler Johnson from StepStone emphasized the significance of integrating public and private markets to enhance portfolio insights. Both leaders expressed confidence that the collaboration would redefine how private assets are evaluated across investment portfolios, ultimately catering to a wider spectrum of market participants.
This innovative move is anticipated to foster the creation of index-tracking investment products, further integrating private markets into the larger investment landscape. The initiative underscores a growing recognition of the need for clearer benchmarks in private markets, enabling investors to adapt swiftly to evolving market conditions. Overall, the FTSE StepStone Global Private Market Indices represent a pivotal step toward enhancing transparency and accessibility for private market investments.
MWN-AI** Analysis
The recent launch of the FTSE StepStone Global Private Market Indices represents a significant advancement in the private equity benchmarking landscape. By combining StepStone’s proprietary fund-level data with FTSE Russell's indexing expertise, these indices offer investors unprecedented daily insights into private market performance. This innovation addresses the historical challenges of reporting lags and fragmented data, allowing for timely decision-making.
In today's market, the convergence of public and private asset classes has intensified the demand for precise and immediate performance metrics. The introduction of both Daily Cash-Adjusted Indices and Daily Market Indices enables investors to track mark-to-market valuations effectively, refining their portfolio management strategies. The Cash-Adjusted Indices provide a stable, industry-standard benchmark, while the Market Indices incorporate dynamic public market correlations, ensuring a comprehensive overview of market health.
Investors should consider how these indices can enhance their asset allocation strategies. For institutions exploring index-tracking investment products, these indices lay a robust foundation for creating innovative investment vehicles that incorporate private market assets. Furthermore, given that approximately $18.1 trillion is currently benchmarked to FTSE Russell indices, there is significant potential for widespread adoption of the new benchmarks across private equity and other alternative assets.
As the market continues to evolve, integrating these indices with FTSE Russell’s liquid index range will facilitate total portfolio benchmarking. This integration allows for improved performance assessment across asset classes, fostering strategic diversification and risk management.
In conclusion, the FTSE StepStone Global Private Market Indices present an opportunity for investors to navigate private markets with a newfound agility. Stakeholders should stay informed on these developments and consider actively incorporating these benchmarks into their investment frameworks to achieve more refined performance insights.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
- FTSE StepStone Global Private Market Indices combines StepStone’s proprietary and institutional-grade fund-level data with FTSE Russell’s indexing expertise, to deliver one clear, daily index series for private markets
- First global benchmark providing a more granular, timely and accurate reflection of private market performance, including daily estimates on mark-to-market valuations
- Designed to set the groundwork for establishing index-tracking investment products
LONDON and NEW YORK, Oct. 30, 2025 (GLOBE NEWSWIRE) -- FTSE Russell, the global index provider, and StepStone Group (Nasdaq: STEP), a global private market investment firm, today announced the launch of the FTSE StepStone Global Private Market Indices . This series of innovative fund-level indices represents the first true market barometer for global private markets performance, utilizing daily data from StepStone.
There is increasing customer demand for clear, daily, private market benchmarks that address the historical challenges caused by reporting lags or fragmented datasets. These new indices will enable investors to monitor private market trends with more agility and precision than benchmarks based on quarterly valuations. These indices set the foundation for total portfolio benchmarking when integrated with FTSE Russell’s liquid index range across public asset classes.
The initial cohort of FTSE StepStone Global Private Market Indices are now available in key strategies and regions under two methodologies:
- Daily Cash-Adjusted Indices – a daily benchmark following industry standards in private markets by rolling forward reported NAVs using real-time contribution, distribution, and currency movements.
- Daily Market Indices – a daily, market-calibrated benchmark that extends the cash-adjusted indices by incorporating estimated mark-to-market valuations derived from relevant public market indices and their historical relationships with private market strategies.
Gerald Toledano, Global Head of Equity and Multi Assets at FTSE Russell, comments:
“Today’s launch reinforces FTSE Russell’s position as a leader in alternative asset class indexing by delivering next-generation private market benchmarks. By integrating StepStone’s proprietary private markets data, alongside our index engineering capabilities, we’re setting a new standard for rules-based and consistent benchmarking in this growing asset class. The new indices transform how private assets are benchmarked, giving asset owners faster insights on their portfolios, and creating the ideal set of benchmarks for evergreen fund managers and investors.”
Tyler Johnson, Partner and Chief Technology Officer at StepStone, says:
“The convergence of public and private markets is accelerating the demand for timelier insights into private markets. These new indices deliver daily mark-to-market estimates for private markets funds – an innovation we pioneered in our semiliquid solutions. By leveraging the vast dataset within our proprietary SPI by StepStone platform and combining it with FTSE Russell’s deep expertise in index creation and management, we’re enabling novel benchmarking, valuation, and modeling capabilities for all market participants. This collaboration creates a new standard for how investors can integrate private markets into their total portfolio view with greater precision.”
To find out more, please visit FTSE Russell .
In June 2025, FTSE Russell and StepStone announced a proposed partnership to jointly develop private market indices, data, and analytics products. Press release can be viewed here: FTSE Russell and StepStone announce proposed partnership | LSEG
About FTSE Russell, an LSEG business
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by LSEG.
For more information, visit FTSE Russell .
About LSEG
LSEG (London Stock Exchange Group) is a leading global financial markets infrastructure and data provider, playing a vital social and economic role in the world’s financial system.
With our open approach, trusted expertise and global scale, we enable the sustainable growth and stability of our customers and their communities. We are dedicated partners with extensive experience, deep knowledge and a worldwide presence in data and analytics; indices; capital formation; and trade execution, clearing and risk management across multiple asset classes.
LSEG is headquartered in the United Kingdom, with significant operations in 65 countries across EMEA, North America, Latin America and Asia Pacific. We employ over 26,000 people globally, more than half located in Asia Pacific.
LSEG’s ticker symbol is LSEG.
About StepStone Group
StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of June 30, 2025, StepStone was responsible for approximately $723 billion of total capital, including $199 billion of assets under management. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.
Contacts
LSEG Press Office
Hayley Fewster / Simon Henrick
+44 (0)20 7797 1222
newsroom@lseg.com
Shareholder Relations :
Seth Weiss
shareholders@stepstonegroup.com
1-212-351-6106
Media :
Brian Ruby / Chris Gillick / Matt Lettiero, ICR
StepStonePR@icrinc.com
1-203-682-8268
FAQ**
How will the integration of StepStone Group Inc. (Nasdaq: STEP) proprietary data enhance the accuracy of the newly launched FTSE StepStone Global Private Market Indices compared to existing benchmarks?
What specific challenges in private market performance reporting does the partnership between FTSE Russell and StepStone Group Inc. (STEP) aim to address with these new indices?
Can you elaborate on how daily estimates on mark-to-market valuations from the FTSE StepStone Global Private Market Indices will impact investment strategies for clients of StepStone Group Inc. (STEP)?
In what ways do you envision the FTSE StepStone Global Private Market Indices influencing the development of index-tracking investment products associated with StepStone Group Inc. (Nasdaq: STEP)?
**MWN-AI FAQ is based on asking OpenAI questions about StepStone Group Inc. (NASDAQ: STEP).
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