State Street Global Exchange Announces Collaboration with Josh Lerner & the Private Capital Research Institute to Enhance Pri...
December 04 2014 - 1:00PM
Business Wire
SSGX Expands Private Equity Capabilities with Research Partner
and New Analytics Tools
State Street Global Exchange today announced a new
collaboration with Josh Lerner, Jacob H. Schiff professor
of investment banking at Harvard Business School, and the Private
Capital Research Institute (PCRI) that seeks to further academic
research on private capital. Also announced today is the
launch of the GX Private Equity Index portal which will provide
State Street clients with enhanced transparency into private
capital market performance, trends and liquidity via a web-based
application.
Professor Lerner founded and serves as director of the
Private Capital Research Institute (PCRI), a non-profit
organization that seeks to further the understanding of private
capital and its impact by producing and disseminating independent,
high-quality academic research based on the comprehensive
academic databases of private capital activity. Professor
Lerner was recently awarded the Chartered Alternatives
Investment Analyst Association’s (CAIA) 2014 Award for Excellence
in Alternative Investment Research for his research contributions
on venture capital and private equity organizations. He was also
named one of the ten most influential academics in the
institutional investing world by Asset International's Chief
Investment Officer magazine and serves as Vice Chair of the World
Economic Forum’s Global Agenda Council on the Future of
Investing.
“We’re excited to work with Josh to help illuminate a
historically opaque segment of the market and address a critical
need for an accurate depiction of private equity performance,” said
Jeff Conway, executive vice president and head of State Street
Global Exchange. “Through our partnerships with academia and our
information-driven analytics tools, we are pursuing new ideas and
applications for data to better inform our clients’ investment
decisions.”
The GX Private Equity Index Portal launched today is a
decision-support tool that offers reporting, custom indexing and
benchmarking capabilities with metrics calculated from the actual
transactional data used to build the GX Private Equity
Index. These applications are based on information from the GX
Private Equity Index, which is derived from a large database of LP
fund accounting records with minimal survivorship and
self-reporting bias. The GX Private Equity Index represents more
than $2.2 trillion of private equity commitments and includes more
than 2,400 funds, as of June 30, 2014. Unlike many other sources of
private equity data, the GX Private Equity Index does not rely on
voluntary reporting of cash flows from general partners in order to
calculate returns.
To see more information about the index
visit http://www.ssgx.com/peindex.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $28.47 trillion in assets
under custody and administration and $2.42 trillion* in assets
under management as of September 30, 2014, State Street operates in
more than 100 geographic markets worldwide, including the US,
Canada, Europe, the Middle East and Asia. For more information,
visit State Street’s web site at www.statestreet.com.
* Assets under management include the assets of the SPDR® Gold
ETF (approximately $30 billion as of September 30, 2014), for which
State Street Global Markets, LLC, an affiliate of SSgA, serves as
the distribution agent.
CORP-1205
State Street CorporationAnne McNally, +1
617-664-8576aemcnally@statestreet.com@StateStreet
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