MSCI Inc. is bringing high-frequency data to private markets with the launch of its MSCI Nowcasting (Daily NAV) Indexes, introducing daily benchmark estimates for private credit and private equity exposures.
The move addresses a longstanding challenge in private markets, where performance data is typically reported on a quarterly basis, leaving investors with limited visibility between reporting periods. MSCI’s new indexes aim to bridge that gap by delivering daily, decision-grade net asset value estimates aligned with its established private capital benchmarks.
The MSCI All Country Private Credit Index is designed to help institutional investors monitor exposures in real time and identify potential turning points in the credit cycle. Complementing this, the MSCI All Country Private Equity Indexes provide a daily signal for private equity allocations, enabling more timely risk assessment and portfolio adjustments.
MSCI’s nowcasting framework combines multiple data inputs, including private market benchmark data, fund cash flow histories, public market proxies calibrated to sector and geographic exposures, and newly reported GP NAVs.
“Investors have long faced a trade-off between the credibility of benchmark-grade private market measures, and the timeliness modern portfolio and decision making requires,” said Luke Flemmer, Head of Private Assets at MSCI. “The MSCI Nowcasting Indexes remove that trade-off. By closing the visibility gap, they provide daily signals enabling more timely, confident allocation and risk decisions across private markets.”
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