Valuation at Scale

Each holding starts from its last reported GP NAV. We apply the calls and distributions since that date, adjust for the market movement that drives that holding's value, and roll the result up to fund and portfolio NAV. New GP NAVs are fed into our system each day, and we fold each into the book without rewriting daily values already published. Each quarter's comparison against the NAVs GPs report afterward feeds back into the models.

OPX rebuilds a GP's track record as time-weighted returns from its own holdings and gross cash flows, not from its marks. We benchmark each portfolio company against public companies that map to its size and industry, the same proxy method behind our daily valuations. Subtracting that benchmark strips out market, size and sector returns, and OPX splits the remaining alpha into the levers the GP pulled: growing the business, buying below and selling above the market, and managing leverage.

The daily roll forward shows each fund's last reported NAV and its date, then the cash flows and market movement applied since, so you can see how far each fund has moved from its last GP mark and why. When public markets rally or fall, your private allocations reflect it the next morning rather than at the next GP report. A value that breaks from its own daily history stands out, and we trace it to its source.

With every holding valued as of the same date, returns and allocations cover the whole private book, and risk systems running stress tests and correlation models see one point in time. A daily series also supports what a quarterly one cannot: trailing returns against each holding's own benchmark, annualized volatility and the largest daily moves. You can ask for any of it in plain language.