PT  - JOURNAL ARTICLE
AU  - Emilian Belev
AU  - Thomas Meyer
TI  - Measuring Exposure for Limited Partnership Funds
AID  - 10.3905/joi.2022.1.236
DP  - 2022 Jul 09
TA  - The Journal of Investing
PG  - joi.2022.1.236
4099  - https://pm-research.com/content/early/2022/07/09/joi.2022.1.236.short
4100  - https://pm-research.com/content/early/2022/07/09/joi.2022.1.236.full
AB  - Measuring the exposure to limited partnership funds investing in private assets is a key challenge to multi-asset class investors. It arises from the long time lags between milestone events: the commitment to the fund, the capital calls, and returning capital to the fund’s investors. The task is further complicated by the dual perspective of the portfolio of the fund as seen through the prism of the end investor or the manager. This article explores the variety of existing and potential measures that address this challenge, comparing their appropriate usage and potential adverse effects. The goal is to provide a neutral and multi-faceted view to improve investment decision-making.