An independent information platform on semi-liquid private markets funds. We collate what prospectuses and PRIIPs KIDs say, and make it comparable.
Niko Hatziiosifidis is Senior Portfolio Manager and Head of Fund Selection at a renowned Swiss private bank. He holds bachelor’s and master’s degrees in industrial engineering and management from TU Darmstadt and the Karlsruhe Institute of Technology. semiliquid.info is his private, independent project — with the aim of bringing transparency and an overview to the growing ecosystem of semi-liquid private-markets funds.
LinkedIn profileProspectus, PRIIPs KID, annual and semi-annual reports, provider information. Each data field with source and as-at date.
Privately initiated and privately funded, without a mandate from any provider. No ranking, no paid placements — pointers and corrections from readers are expressly welcome.
Fully disclosed. A score whose calculation you cannot follow is worthless — and open to challenge.
| Factor | Weight | Best value (5) | Worst (1) |
|---|---|---|---|
| Redemption frequency | 40 % | monthly or more often | annually or less often |
| Gate per period | 25 % | no gate or above 10 % | below 2.5 % |
| Notice period | 20 % | up to 15 days | more than 90 days |
| Redemption discount | 15 % | none | over 3 % |
One equally weighted total return index per segment, built from the net asset values of the funds in this database. What is averaged is each fund’s return for the period, not its net asset value; the mean of those is chained into an index, base 100. Fund size does not enter — every constituent counts the same.
| Index family | semiliquid.info peer group indices |
| Segments | Private equity, private credit, infrastructure, real estate |
| Return type | Total return, net of the ongoing charges of the share class used |
| Weighting | Equally weighted, reset at the start of each period |
| Index currency | Euro, unhedged |
| Base value | 100 |
| Base date | Per segment, the period preceding the first qualifying observation |
| Calculation frequency | Monthly and quarterly |
| First published | August 2026; history prior to that date is back-calculated |
| Data basis | Net asset values from provider documents, price feeds and market data vendors |
| Exchange rates | ECB reference rates at month end |
| Update cycle | Monthly, as fund valuations are received |
Eligibility, the treatment of unvalued periods and of distributions, the revision policy and the known limitations — back-calculation, survivorship bias, valuation smoothing — are set out in full in the index methodology.
Semi-liquid private markets funds accessible to investors in Europe: regular redemption opportunities, mainly unlisted assets, a publicly available prospectus or key information document. Whether a fund is actually accessible in your country and for your investor category is answered by the access check — we cover it either way.
Closed-ended funds without redemption, vehicles without publicly available documents, and structures open solely to institutional investors with no share class accessible to retail investors.
Enquiries, feedback and suggestions for improvement are welcome at contact@semiliquid.info.
If an entry does not match the current prospectus, we are glad to receive a note with the fund name or ISIN — we check against the original document and correct it promptly.
Is your fund missing or has it changed? Requests about data use and charts also go to the address above — inclusion follows the documented criteria, at no cost.