\n<\/p>\n
What\u2019s\u00a0driving the push to integrate private market data with public market workflows? How are investors and asset managers addressing persistent data frictions to create a unified view across portfolios?<\/span>\u00a0<\/span><\/p>\n This episode of Market Dialogues features<\/span>\u00a0Leila\u00a0Sadiq<\/span>, Global Head of Enterprise Data Content at Bloomberg, in discussion with\u00a0<\/span>Todd Hirsch<\/span>,\u00a0<\/span>Head of Private Capital\u00a0<\/span>at Point72,\u00a0<\/span>Mark Neely<\/span>,\u00a0<\/span>Director of Alternative Investments<\/span>\u00a0at\u00a0GenTrust, and\u00a0<\/span>Avi\u00a0Turetsky<\/span>,\u00a0<\/span>Partner and Head of the Quantitative Research Group at Ares<\/span>, on how private markets are evolving toward greater transparency, valuation consistency, and data connectivity.<\/span>\u00a0<\/span><\/p>\n Source<\/strong>: Enterprise Data & Tech Summit, October 16, 2025, New York<\/span><\/span><\/span><\/span><\/p>\n The Market Dialogues<\/strong> podcast series provides access to curated, thought-provoking discussions from Bloomberg global events. It offers in-depth insights from experts on key trends and themes driving the markets today and beyond.<\/span><\/span>\u00a0<\/span><\/p>\n Discover more conversations in the Market Dialogues series <\/span><\/span><\/span><\/span>here<\/span><\/span>.<\/span><\/span>\u00a0<\/span><\/p>\n Featured insights from this episode of Market Dialogues:<\/span><\/span>\u00a0<\/span><\/p>\n On technology changing valuation transparency<\/span><\/span><\/strong><\/p>\n Todd Hirsch: <\/span><\/span><\/span><\/span><\/span><\/strong>Technology has enabled us to have\u00a0<\/span><\/span><\/span><\/span><\/span>much<\/span>\u00a0greater frequency of inputs for valuations. Whether\u00a0<\/span>they\u2019re<\/span>\u00a0public or private\u2026 I think you can have a better sense of how often you want to mark your positions and how\u00a0<\/span>frequently<\/span>\u00a0you need to adjust those marks based on the inputs you have. <\/span><\/span><\/span><\/span><\/span><\/p>\n When\u00a0<\/span>new information<\/span>\u00a0comes in,\u00a0<\/span>it\u2019s<\/span>\u00a0important that it gets incorporated.\u00a0<\/span>So<\/span>\u00a0if a building sells down the street and you now know\u00a0<\/span>there\u2019s<\/span>\u00a0a new comparable, you can incorporate that in real time. The frequency of adjustments on the private side today is much better than it has ever been, and transparency for investors continues to improve as that frequency\u00a0<\/span>increases,<\/span>\u00a0and the supporting data and analytics become stronger.<\/span><\/span><\/span><\/span><\/span>*<\/span><\/span>\u00a0<\/span><\/p>\n On the data gap between public and private companies<\/span><\/span> <\/span><\/strong><\/p>\n Avi Turetsky:<\/span>\u00a0We know that public markets show meaningfully higher vol[atility] than private market NAVs. We know the valuations are different: public market valuations\u00a0represent\u00a0marginal trades, while private market valuations are appraisal-based. We have\u00a0a pretty good\u00a0sense of the relationship between the two.\u00a0<\/span>\u00a0<\/span><\/p>\n But whether privately owned companies are\u00a0actually more\u00a0stable than publicly traded companies, if\u00a0you\u2019re\u00a0looking at revenue, EBITDA, or cash flows, as far as I know, no one knows the answer to that question\u2026<\/span>The prices are more stable\u2026\u00a0But whether the revenues are more stable to EBTIDA, no one knows because\u00a0no one\u2019s\u00a0been able to get the data on large enough scale to my best knowledge.<\/span>\u00a0<\/span><\/p>\n On managing allocation across private and public assets<\/span><\/span>\u00a0<\/span><\/strong><\/p>\n Mark Neely:\u00a0<\/span>I focus a lot of my time on the allocation model for clients, and\u00a0it\u2019s\u00a0always challenging because\u00a0we\u2019re\u00a0constantly comparing public and private\u00a0markets\u00a0and they\u00a0don\u2019t\u00a0really compare. You look at private equity over a trailing two-year return, and it\u00a0doesn\u2019t\u00a0track public equities over the last 10 years\u00a0<\/span>\u00a0<\/span><\/p>\n Clients will say, \u201cThe public markets are really strong, I want to go into private,\u201d and\u00a0I\u2019ll\u00a0say, \u201cOkay, but\u00a0let\u2019s\u00a0look at what the EBITDA multiples are that private markets are\u00a0purchasing\u00a0at. What are things being marked at?\u201d That transparency,\u00a0or lack of it,\u00a0makes it very challenging to take advantage of dislocations or to reallocate capital between private and public markets, or up and down the capital stack in direct lending,\u00a0Broadly Syndicated Loans (BSLs), and term loans.\u201d<\/span>\u00a0<\/span><\/p>\n *Quotations have been <\/span>edited <\/span>for brevity and <\/span>clarity.<\/span><\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":" What\u2019s\u00a0driving the push to integrate private market data with public market workflows? How are investors and asset managers addressing persistent data frictions to create a unified view across portfolios?\u00a0 This episode of Market Dialogues features\u00a0Leila\u00a0Sadiq, Global Head of Enterprise Data Content at Bloomberg, in discussion with\u00a0Todd Hirsch,\u00a0Head of Private Capital\u00a0at Point72,\u00a0Mark Neely,\u00a0Director of Alternative Investments\u00a0at\u00a0GenTrust,<\/p>\n","protected":false},"author":1,"featured_media":32247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[477,1111,12239,18646,306,1877,7725],"class_list":{"0":"post-32246","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-companies","9":"tag-data","10":"tag-insights","11":"tag-integrate","12":"tag-market","13":"tag-private","14":"tag-scale"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/32246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32246"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/32246\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/32247"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}