As Published in PWM: “Private Market Valuations Heat Up“
Private Markets Navigator founder Stephen Blewitt recently published an article in Professional Wealth Management examining how the growth of semi-liquid private funds may affect investor behavior.
As semi-liquid funds become more prevalent in investor portfolios, there is increased focus on transparency and the frequency of valuations. While greater transparency is welcome, Mr. Blewitt raises a concern that investors may treat these vehicles like public market funds and react to headlines rather than changes in long-term fundamentals. In doing so, investors may overlook company-level valuation changes that develop over years and are not always visible in interim valuations or market headlines.
The article cautions that advisors and their clients should not allow the liquidity feature of semi-liquid funds to be used as a short-term trading tool. Instead, they should approach these vehicles the same way they approach traditional drawdown funds – with an expectation of long-term ownership. Read the full article in Professional Wealth Management here: Private Market Valuations Heat Up
Steve was formerly the Chief Investment Officer and Head of Private Markets at Manulife Investment Management. In this role, he was responsible for leading global investment teams across a wide range of asset classes, including private equity and credit, real estate, infrastructure, timber, and agriculture. Steve has served as a director of many public and private companies during his career, including two of Manulife’s U.S. SEC-registered investment advisors.
Important Notice: Private Markets Navigator does not provide investment advice, and the information should not be construed as such. Investing in private asset funds is risky, with potential for total loss and long-term liquidity restrictions. Read our full dislaimer.