Apollo, StepStone and PitchBook push private market transparency measures
Updated
Updated · InvestmentNews · May 11
Apollo, StepStone and PitchBook push private market transparency measures
7 articles · Updated · InvestmentNews · May 11
Apollo said daily pricing for its credit funds will start by September, while StepStone and PitchBook plan a benchmark product in the second quarter of 2026.
The moves come as retail fundraising into evergreen private equity and venture vehicles rose only 2% year on year, and private credit fundraising fell about 30%.
Apollo is also discussing a sale of its $3bn MFIC fund, while KKR raised $28bn in the quarter, showing institutional demand remains firmer than retail appetite.
As Apollo moves to daily pricing, will the secretive private credit industry be forced to reveal its true values?
With rising defaults and redemption gates, is the private market dream becoming a nightmare for wealthy investors?
Is the trillion-dollar private credit market's 'retail reset' a warning sign of the next financial crisis?
From Opaque to Open: The Drive for Transparency in Global Private Markets
Overview
Private markets are experiencing a major transformation as they shift towards greater transparency. This change is driven by growing demand for reliable data and consistent valuation practices, especially as these markets expand and become more connected to the wider financial system. Heightened regulatory scrutiny and advances in technology are also pushing the industry to improve how private assets are valued and managed. Key initiatives, such as the partnership between StepStone Group and PitchBook, are set to deliver deeper analytics and better insights, marking a new era where transparency reshapes the way private markets operate and are understood.