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Total portfolio approach is revealing blind spots in private markets data. Providers are now racing to bring clarity. - Pensions & Investments

Reported by Pionline
Feb 26, 2026· 2 min read
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Key Takeaways
  • • Pension funds and other institutional investors are exploring a shift to a total portfolio approach (TPA), which views private markets in terms of their contribution to the whole portfolio rather than against a standalone target allocation.
  • • Private markets data is emerging as a blind spot for allocators that need a holistic view of their portfolios, according to Pensions & Investments coverage.
  • • Data and service providers are racing to build tools tailored to TPA needs, and CalPERS has called on its general partners to improve transparency.
Summary
Pensions & Investments reports that pension funds and other institutional investors are considering a move to a total portfolio approach, a framework that evaluates all holdings together rather than asset class by asset class. That shift is exposing gaps in private markets data, which often arrives in formats and at frequencies that make it hard to measure exposures, concentrations and risk across the whole portfolio.

Publisher coverage notes that private markets data is becoming a focus for allocators seeking a holistic view, and that service providers are rolling out products designed to fill these gaps. The same reporting links the data push to the growing use of TPA, with each development reinforcing the other.

CalPERS has also pressed its general partners for better transparency, a demand that aligns with the broader push for more usable private markets information. The full article text was not available for this summary, so specific figures, named providers and timelines are not included.

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Sources

1 outlet

AlphaMaven summarised this story from the reporting below. Each link opens the original article.

Pionline Total portfolio approach is revealing blind spots in private markets data. Providers are now racing to bring clarity. - Pensions & Investments