March 18, 2026 — Amid signs of potential weakness in private markets, institutional investors that have built significant allocations to private assets are looking to their asset managers for timely reporting and other forms of support. In many cases, investors think private market managers are falling short.

Approximately 55% of the global institutional investors participating in a new study from Crisil Coalition Greenwich say the timeliness of reporting they receive from private market managers need improvement. That share tops 70% among U.S. institutions.

“At a moment when investors have real concerns about recent developments in private credit and private equity, private market asset managers’ client service and investor communications capabilities are coming under the spotlight, in many cases for the first time,” says Crisil Coalition Greenwich Global Co-Head of Investment Management, Parijat Banerjee.

What Do Institutions Expect from Private Market Managers?
Because private assets and markets have unique characteristics relative to traditional asset classes, investors rely heavily on their asset managers for information and support. For example, drawdown funds, a common vehicle in private equity, require investors to closely monitor cash flows as asset managers call and distribute capital. As a result, when it comes to evaluating client service in private markets, institutions’ top criterion is “timely and clear communication around capital calls and distributions.”

Private assets have other unique traits as well, including illiquidity, a shortage of public information and a lack of objective valuations. For these reasons, institutional investors closely assess asset managers on the quality and depth of their reporting, and the quality and frequency of investor communications.

Which Asset Managers Do It Best?
According to data assembled in 2025—before the outbreak of current volatility in private markets—several asset managers received more citations than their peers in key areas of service. BlackRock is seen as excelling in nearly all important service categories, including the knowledge and expertise of the client service team, clarity and transparency of communications, timeliness of reporting, and other key areas. Allianz Global Investors also scored highly across categories, as did Partners Group.

Crisil Coalition Greenwich Study
Amid rapid growth in institutional allocations to private markets, Crisil Coalition Greenwich in 2025 debuted a new study aimed at identifying the key service functions investors value most highly in private markets and assessing institutional satisfaction in the service they are receiving from their managers. For insights into these topics, the firm interviewed 362 institutional investors around the world.

The Rising Importance of Timely Reporting in Private Markets covers select insights from the Coalition Greenwich Voice of Client – 2025 Global Institutional Investors Study.