PE Illiquidity Cost Index

XTAL Private Equity Illiquidity Cost Index

The XTAL Private Equity Illiquidity Cost Index measures the daily change of the premium or discount of a select group of Listed Private Equity Trusts and Companies and aims at inferring the cost of the illiquidity of a diversified buyout private equity portfolio. The index algorithms’ inputs include the Book value of the Index constituents and their corresponding market prices. The index is published in price terms and is independent from any currency denomination. A positive index percentage change represents the decrease in the illiquidity cost to sell a diversified portfolio of Buyout PE funds, given the NAVs of the underlying funds, available at the date of measurement.


Daily change
Price (January 25, 2021)
Volatility (22-day Roll-window Annualised)


XTAL Private Equity Illiquidity Cost Index

XTAL Private Market Benchmarks.

Anticipate illiquidity shallows. Steer clear of risks.