Nasdaq Launches Private Capital Index Suite to Enhance Transparency in Private Markets

Nasdaq Inc (NASDAQ: NDAQ) has unveiled the Nasdaq Private Capital™ Indexes, a new family of benchmarks aimed at improving transparency, consistency, and institutional-grade measurement across private markets.

Developed to support institutional investors and consultants, the index suite provides structured, rules-based benchmarks designed to evaluate performance, assess exposures, and navigate the complexities of private capital investing. By introducing standardized methodologies to segments historically characterized by fragmented data and inconsistent benchmarks, Nasdaq seeks to bring greater rigor and objectivity to private market analysis.

The new indexes represent the next stage in the expansion of Nasdaq Private Capital Solutions, a comprehensive platform built to deliver transparent benchmarking, high-quality institutional data, and advanced analytics. The platform integrates the Nasdaq Private Capital Indexes with Nasdaq eVestment Fund and Deal Benchmarking, the Nasdaq eVestment Private Fund Universe, and the Nasdaq eVestment TopQ+ Analytics platform—bringing multiple tools and datasets together under one unified ecosystem.

“Private markets are at a pivotal stage, expanding rapidly in both scale and complexity. However, the ecosystem remains fragmented, with siloed data and inconsistent standards,” said Oliver Albers, Executive Vice President and Chief Product Officer, Capital Access Platforms at Nasdaq. “The Nasdaq Private Capital Indexes address these challenges. Built on LP-reported fund performance data, they provide institutions with a broad and representative view of private markets. Combined with transparent methodologies and workflow-integrated tools, the indexes deliver the clarity and connectivity investors need.”

The index suite is constructed using data from more than 14,000 institutional private market funds, representing over $11.4 trillion in global assets under management, sourced from Nasdaq eVestment’s LP-reported database. The benchmarks apply a documented, rules-based framework that includes Modified Dietz quarterly performance calculations, NAV-weighted aggregation, and a standardized two-quarter restatement policy aligned with institutional governance practices.

Coverage spans the full private capital spectrum, including aggregate private capital, private equity, buyout, venture capital, private debt, fund of funds, and real estate strategies.

The indexes are available through Nasdaq eVestment TopQ+, Nasdaq Global Index Watch (GIW), and Nasdaq’s broader data licensing channels. Designed as objective, rules-driven benchmarks, they aim to strengthen asset allocation decisions, improve comparative performance analysis, enhance risk and return reporting, and streamline data integration.

“As institutional allocations to private markets continue to increase, demand for greater transparency, stronger data infrastructure, and more robust operational support is rising,” Albers added. “Private Capital Solutions reflects Nasdaq’s long-term commitment to building that foundation, equipping institutions with the tools needed to make informed decisions today while preparing for the future of private markets.”