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Benchmarks

XTAL Private Market
Indices

Duration-adjusted private market benchmarks — physically representative, derivative-ready, and computed daily. The only index methodology for private capital that is aggregation-consistent in present-value space and structurally replicable in investable instruments.

DARC Methodology — Patented IP
Daily · Rules-Based · PV-Consistent
ESMA Benchmark Administration — In Progress
Available Indices

USD and EUR Buyout — duration-adjusted, physically representative, and derivative-ready.

Index Currency Weighting Vintage Coverage Status
XTAL USD BuyoutUSDAW EW2014 — presentLive
XTAL EUR BuyoutEURAW EW2014 — presentLive
XTAL USD Buyout Index — 2017 Vintage · Representative of all available vintages · Base 100 = Jan 2017
2017 vintage shown as representative example. Duration-adjusted returns on total commitment, base 100 = Jan 2017. Navy: Asset-Weighted (AW). Steel: Equally-Weighted (EW). Grey: S&P 600 Total Return (reference). Buyout indices measure appreciation of total commitment — reconcilable with NAV on a daily basis.
Frequency
Daily
Formula
Modified Laspeyres
Methodology
DARC — Patented
Administration
ESMA (pending)

Coverage from 2014 vintage onwards — earlier vintages are largely realised and carry no forward-looking value for benchmarking or risk transfer purposes. Venture capital, growth equity, private credit, and infrastructure in development.

Index licensing, data access, and benchmark administration enquiries.

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