Press release · 23 March 2026

PEI Group acquires SIPA to accelerate innovation in private markets analytics.

PEI Group, a global business intelligence provider, has acquired Scientific Infra & Private Assets (SIPA). SIPA's product suite — infraMetrics®, privateMetrics® and privateAlpha™ — integrates into PEI's platforms to deliver comprehensive analysis spanning fund data, deal information, indices and benchmarks.

SIPA continues to serve investors managing over $1 trillion in private assets, with its benchmarks recognised in regulatory frameworks including the International Capital Standard. PEI's distribution network extends SIPA's reach across the institutional and retail investment landscape.

Source: PEI Group press release, 23 March 2026

SIPA's benchmarks align with our strategy of delivering intelligence for private markets decision-makers.
Edouard Tavernier · CEO, PEI Group
PEI is the ideal partner to scale our mission of bringing scientific rigour to private markets.
Frédéric Blanc-Brude · CEO, SIPA
This acquisition demonstrates that transforming academic research into industry solutions creates measurable value.
Emmanuel Métais · Dean, EDHEC Business School

Who we are

The scientific standard for private market benchmarks.

SIPA — Scientific Infra & Private Assets — is a registered benchmark administrator with ESMA. Our indices and benchmarks are the result of more than $25 million in R&D investment over a decade, developed at EDHEC Business School and its research institute.

SIPA data documents the risk and performance of private infrastructure equity, infrastructure debt and private equity asset classes, as well as the outperformance of private market funds (Alpha). All indices are built using asset-level data from private companies, with all constituents repriced monthly using the latest available private market data.

Now part of PEI Group, SIPA maintains its academic partnership with EDHEC to ensure continued development of its quantitative methodologies.

ESMA registered benchmark administrator

SIPA is recognised by the European Securities and Markets Authority as a Benchmark Administrator under the EU Benchmarks Regulation (BMR), effective October 2023.

TICCS® and PECCS® taxonomy standards

SIPA data is segmented using two open-source reference taxonomies — TICCS® for infrastructure and PECCS® for private equity — created and maintained by EDHEC and reviewed by an independent expert panel every two years.

Referenced in international regulatory frameworks

The infra300® index is recognised in the International Capital Standard (ICS) as the reference for insurance companies. SIPA benchmarks are also used under the EU PRIIPs regulation and BaFin's MaRisk (Basel Framework).

$1Tr+
in assets managed by SIPA clients
200M+
private asset prices computed
25yr
track record on flagship indices
$25M
invested in R&D since 2016

Our story

A decade of building the science of private markets.

From academic research to regulated market infrastructure — SIPA's journey from EDHEC's laboratories to a global benchmark standard.

  1. MARCH 2016

    Foundation at EDHEC

    Creation of the Infrastructure Research Institute at EDHEC Business School and launch of the private infrastructure research programme.

  2. OCTOBER 2019

    Scientific Infra and infraMetrics® launch

    The company is incorporated and infraMetrics®, the first institutional-grade private infrastructure equity benchmark, is launched.

  3. AUGUST 2022

    Private equity research programme

    Launch of the private equity asset pricing research programme at EDHEC, laying the groundwork for the privateMetrics® product line.

  4. SEPTEMBER 2023

    Renamed SIPA

    The company is renamed Scientific Infra & Private Assets (SIPA) to reflect the expanded scope across all private asset classes.

  5. OCTOBER 2023

    ESMA registration

    SIPA is officially recognised by ESMA as a Benchmark Administrator under the EU Benchmarks Regulation, cementing its status as regulated market infrastructure.

  6. MARCH 2025

    Launch of privateMetrics®

    privateMetrics® Equity is launched, covering USD 15 trillion in private equity market capitalisation across 150 countries and 64 sectors, with four ESMA-registered flagship indices.

  7. MARCH 2026

    privateAlpha™ and acquisition by PEI Group

    SIPA launches privateAlpha™, its fund performance measurement product, and is acquired by PEI Group to accelerate distribution and extend its analytical capabilities globally.

Our approach

Solving data scarcity in private markets.

Investors in private markets need benchmarks, but there is never enough raw data to build representative and robust indices. SIPA's proprietary methodology bridges that gap.

01 — INGEST

Ingest transaction data

SIPA ingests private market transaction data from audited company financials and deal databases to capture pricing signals across private infrastructure and equity markets.

02 — PRICE

Price 1M assets monthly

Every month, SIPA recalibrates its asset pricing models to reflect the latest observable transaction prices, then uses the updated model to reprice a universe of one million private companies.

03 — BUILD

Build market indices

With over 200 million private asset prices computed spanning more than a decade, SIPA constructs market indices that are both granular (representative) and robust (precise).

Private market risk metrics

Robust private market volatility and extreme risk measures — enabling reliable risk-adjusted performance metrics and comparisons with public asset classes.

Cross-asset comparisons

Comparable data with public asset classes, enabling like-for-like comparisons with stocks, bonds and other alternatives over a 15+ year track record.

Performance attribution

Factor or sector return attribution for portfolio analysis, supporting granular decomposition of returns by TICCS® or PECCS® classification.

Fund alpha measurement

Outperformance metrics using Private Market Equivalents — rank funds and distinguish sources of returns from sources of alpha with customised benchmarks.

Client use cases

From asset allocation to fund selection.

SIPA benchmarks are trusted by major investors and advisors for a range of applications across the private markets investment lifecycle.

Strategy and allocation

SIPA indices are the only benchmarks measuring risk and correlations with other asset classes with a 15-year track record, enabling sensible allocations to private assets that match investor objectives.

PGIM (USA)GIC (SGP)

Risk reporting

SIPA risk measures are used in numerous regulatory frameworks including EU PRIIPs, BaFin's MaRisk (Basel Framework) and the International Capital Standard — where the infra300® index is the reference for insurance companies.

Rgreen (FRA)Dekabank (DEU)

Performance measurement

SIPA benchmarks can track broad private markets or create highly customised yet robust benchmarks that truly represent the characteristics of a specific private equity or infrastructure strategy.

Meridiam (FRA/USA)OMERS (CAN)

Fund selection

SIPA indices allow measuring the Alpha of individual funds and the tendency of GPs to generate Alpha — enabling investors to rank funds and compare apples to apples across peer groups.

Ares (USA)BlackRock Infrastructure Solutions (CHE)

Valuation anchoring

In the absence of frequently updated NAVs, investors use SIPA analytics to create asset-level valuation anchors that represent the evolution of market prices and are customised to match asset characteristics.

Mount Street (GBR)StepStone (CAN)

Customised benchmarks

Customers can create their own customised benchmarks using a choice of dynamic weights and the SIPA API — available in Excel and Python — reflecting their own investment strategy and risk preferences.

Excel Add-inPython packageREST API

Academic foundation

Built on a decade of academic research.

SIPA was born from academic research at EDHEC Business School and its research institute (EIPA). PEI maintains a direct partnership with EDHEC to ensure continued academic development of SIPA's quantitative methodologies.

SIPA's asset taxonomies — TICCS® (The Infrastructure Company Classification Standard) and PECCS® (The PrivatE Company Classification Standard) — are open-source industry standards reviewed by an independent expert panel every two years.

$25M
Invested in R&D at EDHEC over the past decade.
TICCS®
Infrastructure Company Classification Standard — 8 super-classes, 35 classes, 101 sub-classes of industrial activity.
PECCS®
PrivatE Company Classification Standard — 5 pillars, 12 activity classes, 67 sub-classes.
BMR
Index committee operates under the EU Benchmarks Regulation with independent governance and oversight.

Part of PEI Group

Global reach, scientific rigour.

As part of PEI Group — a global business intelligence provider for the private markets industry — SIPA combines its deep quantitative expertise with PEI's extensive distribution network and institutional relationships.

SIPA data is already distributed through partners including Rimes, FactSet, AWS, JPMorgan and Prodatix, and will also become available directly through the PEI Platform. Future coverage will expand to private credit and private real estate.

PEI Group
Fund data, deal information, indices and benchmarks — unified on one platform.
Extended distribution via the PEI Platform alongside existing data partners.
Expanding coverage to private credit and private real estate.
Continued EDHEC academic partnership for methodology development.
Regulatory recognition maintained across ICS, PRIIPs and Basel frameworks.
Ready to bring scientific rigour to your private market analysis?
Open the platform with your SIPAmetrics account, or ask the sales team for a demo.
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