Investment Book of Record for Private Markets

This document is a technical report that discusses the Investment Book of Record (IBOR) and its relevance to private markets. It outlines the limitations of traditional operating models that asset owners have relied upon, particularly in the context of private assets becoming increasingly central to institutional portfolios. The report details the advantages of adopting a modern IBOR, including timeliness, operational independence, integrated oversight, and enhanced decision-making speed during market volatility. It explains how a modern IBOR can provide a unified dataset, improve governance, and support real-time portfolio management. The report also describes best practices for IBOR architecture, emphasizing the importance of comprehensive position management, valuation controls, and integrated risk analytics. The trend toward IBOR adoption is highlighted, with institutions recognizing its role as a single source of truth for investment decision-making, crucial for effective portfolio oversight in a complex market environment.