FTSE Russell and StepStone, a Nasdaq-listed global private markets investment firm, have agreed to jointly develop private asset indices, data, and analytics products.

The proposed partnership will combine FTSE Russell’s expertise in design, development, calculation, and management of indices across asset classes, with StepStone’s leading private markets solutions platform and deep data-driven insights.

The companies expect the initial cohort of daily indices to be launched this year, with further indices and supporting analytical tools to follow.

“With the continued growth in private asset allocation and growing client demand, it is essential for us not only to deliver leading indices in this asset class but to work with partners aligned to our commitment to transparency, rules-based methodologies, robust data provenance and investability,” says Fiona Bassett, chief executive officer of FTSE Russell.

“With StepStone’s broad, in-depth private markets dataset, we have chosen a great partner with which to build this offering.”

Mike McCabe, head of strategy at StepStone, adds: “With a growing portion of the global economy remaining private not only for longer, but potentially indefinitely, we need to pave a pathway for further easing the access to differentiated sources of investment returns.

“Partnering with FTSE Russell will unleash the power and scale of our private markets data – contained within our proprietary technology platform, SPI by StepStone – to drive these goals forward.”

FTSE Russell, wholly owned by London Stock Exchange Group, calculates thousands of indices that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. Approximately US$18.1 trillion is benchmarked to FTSE Russell indices.

StepStone Group provides customized private market investment solutions and advisory and data services to clients. As of March 31, 2025, the company was responsible for approximately US$709 billion of total capital, including US$189 billion of assets under management.