XTAL Strategies

The Smarter Way to Navigate Private Market Illiquidity Risk -
Benchmarks | Derivatives | Solutions

[XTAL Strategies @XTALStrategies]

Thanks to @CAIAAssociation for hosting @mxsk1 our Founder's thoughts on the hot topic of private market liquidity. Is being patient a rational choice?

[CAIA Association @CAIAAssociation]

PE distributions at 50% of historical levels. IPO market shut. GP-led deals limited. Massimiliano Saccone of @XTALStrategies shares his thoughts on the "when & why" of selling PE interests in today's reality: https://t.co/g3A9Nb1ZgE

[CAIA Association @CAIAAssociation]

PE distributions at 50% of historical levels. IPO market shut. GP-led deals limited. Massimiliano Saccone of @XTALStrategies shares his thoughts on the "when & why" of selling PE interests in today's reality: https://t.co/g3A9Nb1ZgE

[XTAL Strategies @XTALStrategies]

Il nostro CEO Massimiliano Saccone @mxsk1 inizia una interessante collaborazione con @Citywire_Italia !
Una rubrica per spiegare le complessità dei mercati privati!
Buona lettura!

[Citywire Italia @Citywire_Italia]

𝗡𝗲𝗹 𝗺𝗼𝘁𝗼𝗿𝗲 𝗱𝗲𝗹 #privateequity: una nuova rubrica curata da Massimiliano Saccone (@XTALStrategies)
🔎 https://t.co/2xwTcimhFe

[XTAL Strategies @XTALStrategies]

Currently, no single performance standard captures the actual growth in wealth generated by a #PrivateEquity investment over time. To solve the puzzle @XTALStrategies launched the novel time-weighted metrics of #DARC (Duration-adjusted Return on Capital)
https://t.co/M7qTZs3Yu8

[Massimiliano Saccone @mxsk1]

Mind the DPI Gap.

⭐ If DPI (private equity’s Distributed over Paid-In ratio) is viewed as "the new IRR", it doesn't occur under the luckiest star...

More here: https://t.co/1MVqCYAudK

[XTAL Strategies @XTALStrategies]

@mxsk1 👉From our CEO

[Massimiliano Saccone @mxsk1]

Thanks for sharing the article and good catch to the authors!

📡 I was writing a quick post along the same lines yesterday (starting from certain private credit expectations).

Here my thoughts: https://t.co/uTtKYDloSO

🔔 Bottom line, new private equity…https://t.co/6RwNTFoP9U

[Massimiliano Saccone @mxsk1]

Definitely !

💡 There is NO reason why illiquid / non fungible asset (like private market funds) should not have their risk easily managed with derivatives (like commodities, by the way).

🔔 Derivatives are about certainty of timely and quality deliver…https://t.co/5JN0mjp2Nk

[Massimiliano Saccone @mxsk1]

Very proud of the launch of PRIFFE.

Illiquidity as well as market valuation risks are the problems that PRIFFE tackles.

Liquidity unfortunately always dries up when it is most needed, making it harder to meet liabilities or to adjust allocations.

PRI…https://t.co/1WbsAJKcf4

[Massimiliano Saccone @mxsk1]

I can't say this is a a trend. Nevertheless, it is a framework to think about private equity valuation dynamics.

NAVs' fair valuations can "happen to decouple" for various reasons from listed market movements.

NAVs find it hard…https://t.co/gFMrVVrRx2 https://t.co/82Q3z2lO2n

[Massimiliano Saccone @mxsk1]

Thanks to the participants to our Private Market Fund Derivatives webinar. We have strived to meet your expectations.

That included serious efforts to maintain the #startup tradition of having a live software glitch "demoing" our platform #PRIFFE.

We w…https://t.co/Yl0HCmzv6e

[Massimiliano Saccone @mxsk1]

Thanks @CFAAtlantic for sharing the thoughts and objectives on the topic that were kindly hosted by @Enterprising.
Happy to engage in constructive dialogues with your members !!
#privateequity #privatemarkets #NAV #valuation #riskmanagement

[Massimiliano Saccone @mxsk1]

To hedge or not to hedge, that is the question. A bigger one in the #privatemarkets!
Thanks for hosting my thoughts @Enterprising @CFAinstitute on the real question of efficiently managing allocations and forward looking returns in #privateequity.
@XTALStrategies #PRIFFE

[CFA Institute @CFAinstitute]

The debate about private market fund valuations and volatility has returned to center stage, Massimiliano Saccone, CFA, says.

How can investors price NAV valuations and efficiently transfer their eventual risk?

@mxsk1 via @Enterprising

https://t.co/8qMKYDBjFv

[Massimiliano Saccone @mxsk1]

Great to see my thoughts on how to accurately measure #privateequity performance in the spotlight again. Thanks @CFAinstitute @Enterprising
#transparency #trust #investing #privatemarkets @XTALStrategies

[XTAL Strategies @XTALStrategies]

Yep, you found us. THANK YOU. Getting ready to help investors, intermediaries and sponsors achieve more efficient private fund portfolio management!

[Exchange Invest @Exchange_Invest]

Always good to welcome another #exchange to the parish. All the very best to The Private Fund Forward Exchange (PRIFFE).
@XTALStrategies

#stockmarketnews #launching

[XTAL Strategies @XTALStrategies]

@RiskNet_AM Great to have our CEO, Massimiliano Saccone @mxsk1, unveiling our #risktransfer strategy and platform with @RiskNet_AM

[XTAL Strategies @XTALStrategies]

Yes, protecting portfolio returns through market risk cycles is where we start!

[Risk.Net Investing @RiskNet_AM]

New exchange aims to protect PE investments against risk rising rates will depress returns https://t.co/VFmaGcxf5S

[Massimiliano Saccone @mxsk1]

@Enterprising @XTALStrategies The traditional approach of pooling cashflows distorts information more than the flawed averages (non-possible for money weighted metrics) it intended to fix

[CFA Institute Research and Policy Center @CFA_RPC]

How can analysts keep accurate information from drowning in the private equity pool?

Massimiliano Saccone, CFA, shares his perspective.

@mxsk1

@XTALStrategies

https://t.co/oxnRzMhwfw