Listed Private Equity (LPE) offers the advantage that, in addition to the valuation of the private equity portfolio at book values (NAV) also a market price valuation is available. The LPX NAV P/D Index Series serve as an innovative research tool. The indices represent a link between the NAV and market price valuation of a private equity investment portfolio. Specifically, the LPX NAV P/D Index Series reflect the price-to-book ratio (premium/discount) of the private equity asset class. The indices serve as a representative barometer for the current valuation environment of the private equity asset class and are thus particularly suitable for investors who are active in the private equity secondary market.
The LPX NAV P/D Index Series are published in percentages on a daily basis, with negative index values referring to a discount and positive index values to a premium. A discount occurs if the market price is below the underlying book value (NAV). A premium, on the other hand, occurs if the market price exceeds the underlying book value (NAV).