Free private markets document generator
Private Markets Benchmarking Policy
Create an institutional LP private equity benchmarking policy covering TVPI, DPI, net IRR, PME, quartiles, peer groups, reporting and governance. Set consistent institutional rules for benchmarking private equity and private markets performance across funds, managers and the overall program.
What this generator covers
Inputs used by the document
- Framework: Institution, Policy purpose, Benchmark selection, Primary metrics, Peer groups
- Application: Fund evaluation, Manager evaluation, Program evaluation, Data quality
- Governance: Reporting, Governance & review, Exceptions
01
Policy purpose
This policy establishes consistent, decision-useful benchmarking standards for the private markets program.
02
Benchmark selection
Use vintage-year, strategy and geography matched pooled benchmarks; use public-market equivalent analysis for broad market context.
03
Primary metrics
Net IRR, TVPI, DPI, RVPI, PME, loss ratio, distributions and NAV-weighted exposure.
04
Peer groups
Compare against relevant vintage, strategy, fund-size and geographic cohorts; avoid broad peer groups that mask underwriting differences.
05
Fund evaluation
Assess performance by maturity: early funds emphasize TVPI and NAV quality; mature funds emphasize DPI, net IRR and PME.
06
Manager evaluation
Review realized and unrealized track record, dispersion across funds, attribution, persistence and relative quartile position.
07
Program evaluation
Assess program results against long-term return objective, public-market equivalent, diversification, liquidity and pacing outcomes.
08
Data quality
Reconcile manager-reported cash flows and NAV, identify stale marks and document benchmark limitations.
09
Reporting
Report benchmark results quarterly to staff and annually to the Investment Committee, with methodology and caveats.
10
Governance & review
Investment staff owns application; the Committee reviews methodology annually and approves material changes.
11
Exceptions
Document unavailable benchmarks, small-sample limitations and any alternate comparison selected for a specific fund.
How to use this document generator
Review the example assumptions, replace them with information from your own investment process, and check every statement against the governing documents and source data. The interactive version updates the draft immediately and can export it to Word or PDF without a login.
Template transparency
Draft status
This template creates an editable first draft. Review every statement against source data and governing documents.
Privacy and export
Inputs stay in your browser. Word and PDF exports are created locally and this page does not store your document.
Scope
This is a practical starting point, not legal, tax, or investment advice.
Template 1.0 · Reviewed 13 August 2026