Private Markets Cert case studies
Private Markets Cert · Put your knowledge to work in context.
The "Private Markets Certificate" is a credential name that circulates among alternative-investment professionals, most often associated with the Chartered Alternative Investment Analyst Association (CAIA), which publishes a comparison page for its educational programs and markets the CAIA Charter as its flagship credential. The specific certificate landing page could not be retrieved: the URL returned a "Page not found" error, so details such as the syllabus, question count, time limit, pass mark, fee, retake rules, and validity period are not confirmed here and are marked for review. The Private Markets Cert case studies are 5 cases and about 3,605 words.
1Pension Scheme Pacing and a First-Close Fee Discount
Northbridge Pension, a £6bn scheme, has a private markets target of 10% and a current NAV of 12.4% after a denominator fall in public equities. Its pacing model assumes 75% of commitments are called over five years.
757 words, about 4 min2Unitranche Underwriting with Aggressive EBITDA Add-Backs
A direct lending fund is underwriting a 195m first-lien unitranche for Valeo Software, a sponsor-backed B2B SaaS business. Management reports 30m of adjusted EBITDA, including 8m of add-backs for one-off restructuring, capitalized R&D, and expected synergies from a tuck-in not yet closed.
704 words, about 4 min3Toll-Road Concession Bid with Bypass Risk
An infrastructure fund is bidding for a 25-year toll-road concession in a middle-income country. The asset generated EBITDA of 120m last year on traffic 8% below pre-pandemic levels; traffic has recovered for three consecutive quarters but remains volatile.
717 words, about 4 min4Venture Bridge Round with a Participating Preference
A growth-stage venture fund holds 18% of Helio, a Series C enterprise software company with 40m ARR growing 35%, gross margin 78%, and monthly net burn of 3m. Helio has nine months of cash and needs a 20m insider-led bridge to reach cash-flow breakeven in 15 months.
711 words, about 4 min5LP Portfolio Sale versus GP-Led Continuation Fund
A 3bn fund-of-funds is selling a 250m NAV portfolio of 20 private equity fund interests to free up liquidity for a new strategic plan. The portfolio's weighted average age is 7 years, 35% is in funds from 2019-2021 vintages, and the top five positions are 55% of NAV.
716 words, about 4 min