Performance
December 14, 2020
Leverage Cobalt LP During Market Volatility
If we look at the past two decades, we can see a pattern of economic events that impact the market. When that occurs, it becomes critical to have a system in place to let you view, understand and manage that volatility. The development of technology solutions, like Cobalt LP, has[...]
August 21, 2020
Analyze the Industry Impact of COVID-19
Given the current economic uncertainty due to COVID-19, many investors are concerned about the impact it will have on their private markets portfolios. This potential volatility can be measured in various ways; however, most investors are focused on an industry impact of COVID-19, to evaluate that volatility. Industry Impact of[...]
June 2, 2020
Diligence in a Digital World
In the current economic environment, filled with uncertainty stemming from the COVID-19 outbreak, LPs are even more focused on thoroughly diligencing new investments to make the most informed decision. Historically, a traditional diligence process relied on in-person meetings to get a better understanding of the company, financial portfolio and track[...]
April 24, 2020
Chart of the Month: Historic Recessions in the Private Markets
When we think about the potential impact of a recession on the private markets, we thought it best to look at cash flow behavior during historic recessions. Continue reading to understand the net cash flows, contribution rates and distribution rates during prior recessionary periods. Net cash flows are generally negative[...]
April 2, 2020
GP to GP Deals in the Private Markets
Historically, GPs would exit a deal through an IPO. However, in today’s environment, most deals are too small for IPO. Therefore, GPs are exiting a deal by selling to another GP – also called a GP to GP deal. The number of these deals has risen substantially since 2010. Furthermore,[...]
March 16, 2020
Private Markets Performance
Investors in the private markets are typically focused on private markets performance in two ways: How have the private markets performed? How does that performance compare to the public markets? Using Cobalt LP’s benchmark and industry-level data, we’re able to take a look at both of these areas. Private Markets[...]
February 21, 2020
Chart of the Month: IRR by Time Horizon and Strategy
When we view historical IRR by time horizon and strategy, we see that in the most recent quarter, private credit was the only negative returning strategy. YTD, the public markets have outperformed the private markets. However, private market strategies should be viewed over several years rather than just short-time horizons.[...]
September 10, 2019
Private Markets in Asia: A Country-by-Country Guide
By: Mingchen Xia, Managing Director at Hamilton Lane and Shannon Chow, Principal at Hamilton Lane In 1991, the private markets landscape looked remarkably different than it does today. “Private equity” really just meant “buyout” and there were only a smattering of funds to choose from. Today, this asset class paints[...]
May 17, 2019
Chart of the Month: Secondary Returns From Discount vs. Asset Growth
Discounts are not necessarily the biggest driver of returns. Cobalt’s May Chart of the Month explains what this can mean for your secondary strategy returns.
April 23, 2019
Public Market Equivalent (PME) in Private Equity
The importance of a public market equivalent (PME) analysis and how it allows investors to make direct comparisons between private market funds and public benchmarks.
