State Street Corporation has implemented a daily NAV operating model for certain private markets strategies. The model expands the company’s administration abilities. As a result, State Street can now support daily valuation and reporting. These investment strategies have traditionally operated on monthly or quarterly schedules.
The model supports the recent expansion of “Daily Pricing” across Apollo’s private credit business. Apollo and State Street worked together on the project. Together, they transformed a process built around monthly valuations and reporting. Now, the process delivers both daily for funds administered by State Street.
Donna Milrod, chief product officer at State Street, shared her view on the change. “The next phase of private markets will be defined as much by infrastructure as by investment opportunity,” said Donna Milrod, chief product officer at State Street. “As private assets reach more investors, expectations around transparency, valuation and reporting are changing. This work expands State Street’s existing daily valuation capabilities and demonstrates how private market funds can provide more timely information and reporting while maintaining the characteristics that make private markets unique.”
Private Markets Investors Expect More Timely Information
The implementation arrives as private markets attract a broader range of investors. Notably, these investors expect more timely information about the investments they own. Consequently, demand for frequent reporting and greater transparency keeps growing. Daily NAV reporting directly addresses that demand.
Eric Needleman, Partner and Head of Apollo Capital Solutions, also commented on the initiative. “Expanding daily pricing across our credit platform reflects our commitment to providing investors with greater price transparency and more regular access to information as private credit continues to evolve,” said Eric Needleman, Partner and Head of Apollo Capital Solutions. “This innovative initiative required significant collaboration across key providers, and we’re pleased to have worked with State Street and others to make it possible.”
Industry Momentum Supports Growth in Private Markets
The broader industry is moving in the same direction. State Street’s 2026 Private Markets Study shows that half of surveyed firms plan to raise private market allocations. This increase will unfold over the next two years. Moreover, as allocations grow, managers seek to serve a wider range of investors. Therefore, operational readiness, reporting, servicing and valuation capabilities are becoming increasingly important.
State Street supports clients across private equity, private credit and real assets. It does so through fund accounting, reporting, servicing and operational capabilities. Furthermore, the firm has more than 35 years of experience servicing alternative investments globally. Private markets remain a strategic area of focus for State Street. Likewise, the company continues to invest in technology and operating infrastructure. This investment supports the growth of the asset class.
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News Source: Businesswire.com
