Private markets are now core financial infrastructure, funding companies and credit where banks have pulled back, and that scale brings scrutiny. This bobsguide piece sets out why the pressure point is operational: back offices have to turn complex fund structures into accurate books, defensible valuations, and investor-ready reporting, then repeat it on a tighter clock as evergreen and credit products move toward monthly NAVs. It points to intensifying oversight from the SEC and IOSCO, and to investors who now expect to trace numbers back to the underlying positions. The core argument: the real fault line is the spreadsheet outside the system, and modernization has to start with a data model that reflects the fund as it actually exists.
Read the full article in bobsguide: https://www.bobsguide.com/private-markets-are-growing-back-offices-are-struggling-to-keep-up/
