XTAL Strategies

Mind the DPI Gap. ⭐ If DPI (private equity’s Distributed over Paid-In ratio) is viewed as "the new IRR", it doesn't occur under the luckiest star... More here: linkedin.com/feed/update/urn…

Thanks for sharing the article and good catch to the authors! 📡 I was writing a quick post along the same lines yesterday (starting from certain private credit expectations). Here my thoughts: lnkd.in/dAUrBEyj 🔔 Bottom line, new private equity…lnkd.in/dJFFnUkp

Definitely ! 💡 There is NO reason why illiquid / non fungible asset (like private market funds) should not have their risk easily managed with derivatives (like commodities, by the way). 🔔 Derivatives are about certainty of timely and quality deliver…lnkd.in/dN2itvrH

Very proud of the launch of PRIFFE. Illiquidity as well as market valuation risks are the problems that PRIFFE tackles. Liquidity unfortunately always dries up when it is most needed, making it harder to meet liabilities or to adjust allocations. PRI…lnkd.in/dkEv6zFv

I can't say this is a a trend. Nevertheless, it is a framework to think about private equity valuation dynamics. NAVs' fair valuations can "happen to decouple" for various reasons from listed market movements. NAVs find it hard…lnkd.in/dg6eUHXJ lnkd.in/d3Pb6smw

Thanks to the participants to our Private Market Fund Derivatives webinar. We have strived to meet your expectations. That included serious efforts to maintain the #startup tradition of having a live software glitch "demoing" our platform #PRIFFE. We w…lnkd.in/dAaRE3Kp

Thanks @CFAAtlantic for sharing the thoughts and objectives on the topic that were kindly hosted by @Enterprising. Happy to engage in constructive dialogues with your members !! #privateequity #privatemarkets #NAV #valuation #riskmanagement

To hedge or not to hedge, that is the question. A bigger one in the #privatemarkets! Thanks for hosting my thoughts @Enterprising @CFAinstitute on the real question of efficiently managing allocations and forward looking returns in #privateequity. @XTALStrategies #PRIFFE

Great to see my thoughts on how to accurately measure #privateequity performance in the spotlight again. Thanks @CFAinstitute @Enterprising #transparency #trust #investing #privatemarkets @XTALStrategies

The traditional approach of pooling cashflows distorts information more than the flawed averages (non-possible for money weighted metrics) it intended to fix

Valuable insight from Vincent Gombault on the effect of mark-to-market on existing secondary portfolios via #SecondariesInvestor #marketrisk #risktransfer #riskmanagement #valuation #privatemarkets #privateequity lnkd.in/dycx5G9g

Thanks @preston_mcswain for drawing attention to the #DARC. Not simpler. But accurate, useful, unbiased, comparable. This is what @XTALStrategies has been aiming at. Performance #transparency creates trust advantages for the #privatemarkets industry.