PitchBook, the premier data provider for the private and public equity markets, today released PitchBook Manager Scores, a new tool to uncover top-performing fund managers across vintages and strategies. The feature leverages PitchBook’s comprehensive benchmarking data and proprietary scoring methodology that contextualizes fund family performance. Along with Manager Scores, PitchBook is also releasing PitchBook Capital Call and Distributed Speed Scores to help LPs anticipate cash flow patterns and pursue a more informed portfolio management strategy. Manager Scores joins a suite of other powerful LP tools available on the PitchBook Platform – including Cash Flow Modeling, Portfolio Forecasting, Benchmarks, Investment Style Summaries and PitchBook Institutional Research Group reports – to create the most robust, central offering available to support core LP workflows. The new tool is accessible within the PitchBook Platform and can be found on investor profiles under the Fund Family Performance tab.
PitchBook Manager Scores launches at a time of significant change in the private markets. The overperformance of alternative asset classes in 2020 and 2021 and subsequent market volatility has prompted many LPs to reevaluate their commitment strategies and fund manager relationships. Historically, LPs have dealt with challenges in traditional methods of benchmarking, which lack the sophistication and tools needed to effectively evaluate manager performance and understand the nuance of out- and underperformance. LPs also face uncertainty around the timing and size of the capital calls that they will need to fund and the distributions they will receive, making allocation planning in private funds a difficult exercise. In today’s challenging market, this becomes an even greater challenge.
Leveraging extensive benchmarking data from the PitchBook Platform and a proprietary scoring methodology developed by PitchBook’s Quantitative Research team, Manager Scores contextualize private fund performance by fund family groupings across strategy, vintage, geography and sector. With this tool, LPs gain access to underlying fund family data to enable more robust peer grouping and benchmarking and understand the nuanced factors behind outperformance and underperformance. Coupled with its Capital Called and Distributed Scores, LPs gain more visibility into capital call and distribution patterns, enabling greater control over their portfolio and the ability to source managers that meet their liquidity and allocation needs.
“As LPs continue to grapple with how to effectively allocate funds to the alternative asset classes in today’s environment, we’re thinking about fund performance in a more nuanced way to help LPs derive insights from data more easily,” said Kristina Linova, Lead Product Manager at PitchBook. “Manager Scores was developed with client needs in mind by PitchBook research analysts who are deeply familiar with the time and resource constraints many LPs face. PitchBook’s LP toolbox aims to streamline the fund manager evaluation workflow by providing transparency into the data and factors driving performance like never before.”
In addition to PitchBook’s innovative LP tools and breadth of data, LPs can also leverage the Quantitative Research team, which provides crucial macroeconomic research in addition to guiding the development of novel product solutions to the most complex challenges in the industry. More information on PitchBook’s allocator solutions and can be found in a new series of analyst reports surrounding the Manager Scores release:
- Allocator Solutions: Evaluating Persistence in Fund Performance
- Global Manager Performance Score League Tables
- An LP’s Guide to Manager Selection
For more information about this tool and PitchBook’s robust offering for supporting LP workflows, click here.
About PitchBook
PitchBook is a financial data and software company that provides transparency into the capital markets to help professionals discover and execute opportunities with confidence and efficiency. PitchBook collects and analyzes detailed data on the entire venture capital, private equity and M&A landscape—including public and private companies, investors, funds, investments, exits and people. The company’s data and analysis are available through the PitchBook Platform, industry news and in-depth reports. Founded in 2007, PitchBook has offices in Seattle, San Francisco, Chicago, New York, London, Hong Kong, Singapore, Mumbai, Kolkata and Ukraine and serves more than 100,000 professionals around the world. In 2016, Morningstar acquired PitchBook, which now operates as an independent subsidiary.
SOURCE PitchBook