Private market analytics

Model
private capital
portfolios.

Bella Analytics gives private capital investors the quantitative tools to model cash flows, understand performance, and construct portfolios using sophisticated methods from academia.

Bella Analytics portfolio summary dashboard showing contributions, distributions, and TVPI by vintage
The platform

One platform for the full arc of private capital decision-making.

See how the platform works, from allocation planning to liquidity modeling.

The workspace

A single view of the whole portfolio.

Exposure and performance by vintage, strategy, and more give you an at-a-glance read on composition, pacing, and returns as your portfolio evolves.

Bella Analytics benchmarking view showing each fund's contribution to total portfolio TVPI
Liquidity & cash flow

Project inflows and outflows as probabilistic ranges.

Plan commitment schedules and model risk to reach target allocations and maximize total portfolio return. Outcomes are generated from proprietary modeling approaches, published in academic literature, that use realized historical data to avoid subjective input assumptions.

Performance

Measure performance with precision.

Assess a fund, manager, strategy, or portfolio against public and private benchmarks tailored to your exposure and objectives. Apply industry best practices so risk and return are compared consistently across public and private assets.

Portfolio modeling

Build optimal portfolios that meet your risk and return objectives.

Explore portfolio constructions to optimize return for a given level of risk, estimate inputs for allocation models, and analyze the effect of potential restructurings.

The full toolkit

A connected suite of tools, customized to fit your objectives and integrated with the systems you already use.

Liquidity modeling

Generate probabilistic ranges of inflows and outflows to plan commitment schedules and match assets to liabilities.

Risk modeling

Quantitatively model portfolio risk, capturing dispersion, drawdowns, and downside exposure across private market assets.

Portfolio construction

Optimize return for a given level of risk, and estimate inputs for total portfolio allocation models.

Performance benchmarking

Apply multi-dimensional benchmarking across public and private indices and peers to understand and communicate performance.

Scenario analysis

Test restructurings, allocation changes, and market scenarios to inform capital commitment strategies.

Custom integration

Build bespoke modules and methodologies, fit to your team’s process and questions.

A novel methodology underneath it all. Our historical simulation framework generates ranges of portfolio outcomes from historical data, avoiding the subjective assumptions required by longstanding models like Takahashi–Alexander.

Read the published paper →

Get the backtesting report →

Private markets

Analytical challenges

Opaque cash flow patterns: the J-curve, and uncertain timing.
Wide dispersion of returns among funds.
The limitations of legacy models like Takahashi–Alexander.
Comparing risk and return across public and private assets.
Bella Analytics

Our solutions

Predictive analytics that forecast future liquidity and NAV.
Grounded in realized historical private capital data.
Probabilistic ranges that capture the full distribution of outcomes.
Data-agnostic, compatible across portfolios and datasets.
Why Bella

Research-backed modeling, trusted by leading institutions around the globe.

15+
Years actively advising private capital leaders across six continents and over 30 countries.
$5T+
In assets under management across the clients we serve.

Led by Dr. Josh Lerner

Jacob H. Schiff Professor at Harvard Business School.

A published methodology

Our historical-simulation framework appears in the Journal of Portfolio Management and is integrated into the CAIA Association curriculum.

Proven at scale

Trusted by leading institutional investors around the world and used in a series of multi-billion dollar PE-backed collateralized fund offerings.
Get started

See how Bella can model your portfolio.

Rigorous performance assessment and predictive analytics, purpose-built for the complexities of private markets.