Successful commitment pacing begins with comprehensive market intelligence
With the beginning of each fiscal year, private markets allocators will have a target allocation total for their private markets portfolio. They must balance the size of and the number of commitments they make across the funds in market in a given year. If a target fund is oversubscribed or the investor has decided to pass on a re-up to an existing manager, they must work to identify comparable funds that might also be a fit for their allocation strategy.
With the Forward Calendar in Nasdaq eVestment TopQ+, institutional investors can filter down to the specific fund sizes, strategies, and investment periods that fit their investment needs to identify both confirmed and projected funds in market. From there, the due diligence process can begin in earnest.
Allocators are using our Forward Calendar to gauge manager fundraises and plan out their allocation pacing. We regularly see LPs identify a handful of managers on the Forward Calendar and then use our Compare Funds module to dig into the fund manager’s performance against other GPs also coming to market.
Elle Walker, CAIA,
Director of Private Markets Data, Nasdaq
Forward Calendar: How it works
Data in the Forward Calendar is a mix of algorithmic projections and verified public data. For projected fundraises, the calendar looks at the vintage years and fund sizes of the preceding funds in a fund family to project when a manager will be back in market and how much capital they will be seeking to raise. An analysis of the algorithmically projected funds found that the Forward Calendar correctly forecasted funds in market with 80% accuracy within 2 quarters.
The projected funds are supplemented by the confirmed funds, which are sourced from public news sources as well as fund manager announcements and press releases. When a projected fund is confirmed, data analysts at Nasdaq eVestment update all estimated data points with those confirmed by the fund announcement source.
Adding the Forward Calendar to your arsenal
Interested in adding the TopQ+ and the Forward Calendar to your arsenal of market screening and due diligence tools?
