Private markets have grown fast and become increasingly complex and institutionalized. Historically, many private markets platforms were built pragmatically and as-you-go with manual processes, fragmented responsibilities and bespoke fund-by-fund solutions. This model faces increasing challenges from the growth in assets under management, new strategy launches, more frequent product introductions, increasingly diverse investor bases, a wider range of distribution channels, the larger diffusion of evergreen structures, higher regulatory requirements, greater transparency expectations, and the need for scalable technology-enabled operations. Moreover, the diffusion of AI technologies raises challenges in terms of data structuring, access, confidentiality, and quality of output.

As a result, private markets firms, investors, administrators and advisors must plan and prepare important strategic decisions in terms of target operating model design, make-or-buy choices, outsourcing, provider selection, software architecture, data governance and automation. They also have to anticipate evolutions, keeping their platforms flexible while ensuring security, resilience and confidentiality.

This program is designed to provide participants with a structured and practical understanding of how private markets work, how platforms are designed and built, how operating models are designed, implemented, governed and scaled across the full investment lifecycle. It is highly interactive and practitioner-oriented. It will combine: 

• Conceptual frameworks
• Practical examples
• Anonymized case studies
• Operating model discussions
• Software and tooling illustrations
• Group exercises
• Lessons learned on implementation
• Discussion of real-life dos and don’ts 

How you will benefit

This 3-day program aims to help participants understand how modern private markets platforms are designed, scaled, governed and transformed in practice.

• Gain an understanding of the private markets value chain and its operational dependencies 
• Comprehend the key operating model components across fund formation, fundraising, capital deployment, harvesting and winding up 
• Apply structured thinking to make-or-buy and outsourcing decisions
• Grasp which software components are required at different stages of the lifecycle 
• Understand the basic principles behind private markets software and data architecture 
• Assess the importance of data governance, workflow orchestration, reporting and automation 
• Identify key scalability, control and governance challenges 
• Understand current and future trends in private markets operating models 
• Participate more effectively in operating model, provider selection, software selection and transformation discussions 

Program length
3 days

Next step
We offer carefully crafted learning paths designed to help you dive deeper into various facets of finance. Take the next step in your professional learning path by choosing one or more of our specialized programs, for example:

> Investing in Private Debt 
> Investing in Private Infrastructure
> Investing in Private Real Estate

Day 1 | Morning

Introduction to Private Markets and Operating Complexity

• The private markets ecosystem, key definitions, strategies, fund structures and the specific characteristics of private markets compared with liquid markets
• The drawdown model, private markets dynamics, market statistics, the roles of fund managers, limited partners and service providers 
• Key economic and operational features that drive complexity in private markets 

The objective is to create a common foundation for participants before entering into the detailed operating model and technology discussions. 

Day 1 | Afternoon 

Designing the Private Markets Target Operating Model

• The private markets value chain as the central framework for operating model design 
• Reviewing the full lifecycle from fund formation and fundraising through capital deployment, harvesting and winding up 
• Key functional layers across the lifecycle, including investment selection, legal and compliance, sales and distribution, subscription and onboarding, fund finance, fund management, investor relations, reporting and corporate finance 
• Discussing how these functions interact and how responsibilities can be allocated across front office, middle office, back office and external providers 

Day 2 | Afternoon 

Scaling the Platform: Data, Reporting and Automation

• The data, reporting and automation layer required to operate private markets at scale 
• Principles of data architecture, single source of truth design, data lineage, workflow orchestration, reporting production and operational controls 
• Automation opportunities; the role of AI-supported processes in document processing, data quality management, reporting and exception handling 

Day 3 | Morning

Market Practice and Implementation Lessons

• An external market perspective: comparing operating model archetypes observed across different types of private markets participants – for example, a fully in-house institutional fund manager, an outsourced mid-market platform, a wealth-management hybrid model, and a technology-driven asset manager
  – trade-offs in cost, control, scalability and risk 
• Highlighting practical dos and don’ts across operating model design, technology selection, provider selection and program execution
  – pitfalls and how they could have been avoided 

Day 3 – Afternoon

Case Studies, Workshops and Future-State Operating Models  

• Applying the concepts through case studies and workshops: participants are asked to take on a fund manager, fund investor or fund administrator role and design a target operating model for it within a set time, covering functional allocation, make-or-buy choices, technology architecture and key controls.  

• Discussion of future-state private markets platforms, structured around three themes:
  – AI-enabled workflows and automation
  – data-centric and interoperable architecture
  – the operational implications of scaling evergreen structures 

Program preparation

There is some preparatory work required for this program. Pre-readings consist of case materials, chapters of a book and/or a few articles. These materials will be made available on a password protected webpage a few weeks prior to the program.

To ensure maximum benefit from the program for participant and fellow-participants, we strongly advise to prepare prior to attending.

Who should attend 

The program is aimed at professionals involved in private markets operations, platform design, transformation initiatives, technology architecture, fund administration, and consulting, including: 

• Middle-office and back-office professionals (and front-office professionals involved in the setup of the private market platform, including strategic decisions) 
• Consultants involved in the setup and evolution of private market platform  
• Fund administrators 
• operations and technology specialists 
• Internal and external consultants 
• Transformation and project managers 
• Professionals involved in outsourcing, provider selection and software decisions 
• Professionals aspiring to support or participate in the target operating model decision-making 

The program is particularly relevant for professionals who are expected to support strategic decisions around private markets platform design, process architecture, system selection, outsourcing, and governance.

Prerequisite
Proficiency in English is vital for following this training program effectively.

Is this program not the right fit for you?
We offer other programs which you might find more interesting or useful, such as:

> Private Equity
> Cybersecurity for Executives