Insights

Australia’s private credit sector was already under regulatory scrutiny after a run of fund collapses and redemption freezes. The latest episode was different: a dispute between a manager and its auditor over what the loans were worth. In September 2026, KPMG declined to issue its audit opinion on the FY2026 financial statements of three Metrics vehicles by the statutory reporting

On Friday 2 October 2026, Partners Group announced that it is proposing to split its €6.6Bn flagship Global Value SICAV (“PGGV” or the “fund”) Evergreen into “distributing” and “compounding” funds, respectively. This comes on the heels of capping redemptions from the fund in June 2026. Partners Group had also capped redemptions from its ~ $15Bn US Evergreen vehicle, Partners Group

New research from the EDHEC Infrastructure & Private Assets Research Institute examines the accuracy of private asset valuations using realised private equity and infrastructure equity exits across UK-listed investment trusts. The study analyses 333 individual exit transactions across 29 investment trusts between 2015 and 2026, using financial reporting and regulatory filings. For each transaction, the exit price is compared with

Private asset markets are facing growing scrutiny over how investments are valued and how accurately those valuations reflect underlying economic reality. Here, we briefly examine four important questions around valuation: how private assets are valued, whether appraisal-based valuations adequately capture risk, how regulation is evolving, and what realised exits tell us about the accuracy of reported values. When valuation creates

The EDHEC Infrastructure & Private Assets Research Institute (EIPA) has submitted comments to the International Public Sector Accounting Standards Board (IPSASB) on Exposure Draft (ED) 94, Linkages Between IPSAS Standards and the Government Finance Statistics Manual 2014 (Amendments to IPSAS 22). EIPA’s comments draw on research into government accounting for public-private partnership (PPP) guarantees and contingent liabilities, and the role

The EDHEC Infrastructure & Private Assets Research Institute (EIPA) has submitted a detailed response to the Australian Treasury Consultation Paper released in May 2026 seeking feedback on a number of proposals to strengthen the superannuation performance test. EIPA’s submission, which focuses primarily on the benchmarking treatment of private assets, is summarised below. Key points EIPA welcomes the opportunity to respond to