# SIPA — Scientific Infra & Private Assets

> SIPA is the leading provider of institutional-grade benchmarks and analytics for private infrastructure and private equity markets. Now part of PEI Group (acquired March 2026), SIPA's indices are built on two decades of academic research originating at EDHEC Business School.

## What SIPA Does

SIPA produces scientific benchmarks and analytics for private asset markets — a sector historically lacking reliable, independently validated data. SIPA's products are used by institutional investors for asset allocation, performance measurement, risk reporting, and fund selection.

## Products

- **infraMetrics Equity** — Listed-equivalent infrastructure equity indices tracking unlisted infrastructure equity performance
- **infraMetrics Debt** — Benchmarks for private infrastructure debt
- **privateMetrics** — Private equity market benchmarks and analytics
- **privateAlpha™** — Fund alpha measurement tool that ranks funds and GPs by genuine risk-adjusted excess return using the Direct Alpha Method (Gredil et al. 2023). Covers 800+ buyout funds and 500+ infrastructure funds across 2013–2024 vintages.
- **Performance Attribution** — Deal- and fund-level Direct Alpha bridge that reprices value creation against a private-market benchmark, separating market return from manager skill (the "Bridge to Alpha" analysis).

## Scientific Foundation

SIPA's methodology is grounded in academic finance. Key features:
- ESMA-registered benchmark administrator
- ICS and PRIIPs regulatory recognition
- Indices used in academic peer-reviewed research
- Independent advisory and scientific committees

## Who Uses SIPA

Institutional investors including sovereign wealth funds, pension funds, insurance companies, and asset managers use SIPA for:
- Strategic asset allocation to private markets
- Performance benchmarking against listed-equivalent returns
- Regulatory reporting (PRIIPs, ICS, Solvency II)
- Fund and GP selection via alpha measurement

## Company

- **Founded:** 2016 at EDHEC Business School (Lille/Nice, France)
- **Acquired by PEI Group:** March 2026
- **Headquarters:** London, UK (PEI Group)
- **Coverage:** Global (Europe, North America, Asia-Pacific)
- **Website:** https://pei.sipametrics.com

## Pages

- [Home](https://pei.sipametrics.com/) — Platform overview, products, use cases, client logos
- [infraMetrics](https://pei.sipametrics.com/inframetrics.html) — infraMetrics product detail: Market Indices, Thematic Indices and Comparables for unlisted infrastructure equity and private infrastructure debt, plus downloadable product overview PDFs
- [privateMetrics](https://pei.sipametrics.com/privatemetrics.html) — privateMetrics product detail: Market Indices and Thematic Indices for private equity-backed companies, plus a downloadable product overview PDF
- [About](https://pei.sipametrics.com/about.html) — Company history, acquisition by PEI Group, regulatory achievements
- [privateAlpha](https://pei.sipametrics.com/alpha.html) — Fund alpha measurement product detail
- [Research](https://pei.sipametrics.com/research.html) — White papers and academic publications
- [Monthly Data Releases](https://pei.sipametrics.com/data-releases.html) — Monthly factsheet release log for infraMetrics and privateMetrics indices
- [Quarterly Index Reports](https://pei.sipametrics.com/quarterly-index-reports.html) — Quarterly dashboard summaries (sector, geographic and performance highlights) plus downloadable PDF reports for infra300, infra100, infra300 Debt, infraGreen and private2000
- [Total Portfolio Approach](https://pei.sipametrics.com/tpa.html) — How SIPA data enables TPA implementation for private assets, with a four-part research series
- [Asset Valuation](https://pei.sipametrics.com/valuation.html) — The problem with private market valuations and how infraMetrics®/privateMetrics® asset pricing models solve it, with robustness evidence and full methodology papers
- [Performance Attribution](https://pei.sipametrics.com/performance-attribution.html) — Why the standard value bridge can't identify manager skill, and how the Direct Alpha bridge separates market return from alpha, with the KPS Capital Partners / TaylorMade Golf case study
- [Private Credit Risk](https://pei.sipametrics.com/private-credit-risk.html) — Shadow credit ratings for unrated private infrastructure debt: a reduced-form model producing probabilities of default and IG/NIG grades from data investors already hold, validated against public ratings
- [GP Alpha Rankings](https://pei.sipametrics.com/gp-alpha-rankings.html) — Methodology behind the PEI Alpha Rankings of GPs: how fund-level Pure Alpha (Direct Alpha vs. a matched benchmark) is aggregated into a realisation-weighted manager rank, fund/manager eligibility rules, alpha persistence, and governance, with a downloadable methodology PDF
- [SIPA Knowledge Certification](https://pei.sipametrics.com/certification.html) — Three-level certification (Entry, Intermediate, Advanced) covering SIPA's methodology, taxonomies and analytics, each with a required reading and a graded online assessment
- [SIPA Product Certification](https://pei.sipametrics.com/product-certification.html) — Four self-contained product certificates (infraMetrics Equity, infraMetrics Debt, privateMetrics Equity, privateAlpha), each with a required factsheet and a graded online assessment

## Contact

- **Demo requests:** https://pei.sipametrics.com/#contact
- **Sales (Americas):** Felipe Villegas — felipe.villegas@pei.group
- **Sales (Europe/RoW):** Iona Anderson — iona.anderson@pei.group