Morningstar and PitchBook Collaborate on Semiliquid Private Fund Indexes to Address Valuation Questions

Morningstar and PitchBook are partnering to create new indexes for semiliquid private market funds. The collaboration aims to provide investors and asset managers with clearer reference points for performance and risk in this part of the market. The new indexes may influence how product providers design semiliquid funds and how platforms compare them, potentially leading to more tools and research built on top of these benchmarks. Morningstar's valuation is currently 58.9% above estimated fair value.