Private Asset Risk.
Private equity, debt, real estate, and infrastructure — private-asset risk in a securities-market framework.
Private assets, without appraisal bias.
The Private Asset Models are designed to eliminate the appraisal bias built into traditional industry benchmarks and appraisal-based valuation methodologies.
Compare private and public in one factor language.
They are constructed using granular knowledge of the assets and markets globally, while incorporating the key aspects of the economic payoff — so private and public assets sit in one consistent factor framework.
That shared framework allows intuitive comparison across private equity, private debt, real estate, and infrastructure inside a multi-asset-class portfolio.
Where most systems proxy a private holding with a lagged appraisal or a single public-market beta, Northfield builds it from the ground up. Direct real estate is modeled property-by-property — from lease structure and renewal, tenant credit quality, and vacancy dynamics to the financing on the building and the volatility of the rents themselves. Infrastructure is read off its contracted cash flows; private equity and venture are mapped to the public exposures that behave like them. Each position is matched against a proprietary database of roughly ten thousand modeled assets, so its economic value and risk move daily — even when no one is quoting a price.
Built up, not marked down.
Every private class is assembled from its own economics — the cash flows, the financing, the counterparties — then read on the same factors as the liquid book.
Lease structure and renewal, tenant credit, vacancy dynamics, and the mortgage financing on the building — daily risk from the actual cash flows, not a single appraisal mark.
Usage contracts, gearing, and counterparty credit are modeled asset by asset, so an airport or a toll road carries its own economic risk rather than a sector average.
Each deal is matched to comparable public exposures and adjusted for leverage, IPO conditions, and lock-ups — transparent, comparable, and updated between marks.
Credit risk is tied to the issuer's equity through a structural view, so private-credit tranches sit in the same risk language as everything else you hold.
Where a holding's own data is thin, it maps to similar assets in Northfield's database — so risk keeps moving daily, even when no one is quoting a price.
One methodology.
Thirteen models.
Each model is independently subscribable, estimated on the same granular, adaptive factor approach Northfield has developed continuously since 1985. Everything, Everywhere spans the whole book; each of the others goes deep on one part of it.
Private and public, comparable.
Private-asset risk in a securities framework — since 1985.
Run Private Asset Risk against your book — directly from Northfield, or through FactSet, Murex, Dynamo, and our other distribution partners.
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