Morningstar launches benchmark tracking both public and private markets in 1 index — here’s what it means for investors

Core Insights - Morningstar has launched the Morningstar PitchBook US Modern Market 100 Index, which tracks 100 top public and private market companies, including 90 publicly traded and 10 venture-backed firms like SpaceX and OpenAI [1][2] Group 1: Index Structure and Purpose - The index's 90/10 mix reflects the actual structure of the modern equity landscape, utilizing secondary market transactions for private equity data and official exchanges for public companies [2] - The inclusion of private companies in investment portfolios is essential, as they represent some of the fastest-growing and most dynamic companies [3][4] Group 2: Investment Accessibility - Retail investors face challenges in buying shares of private companies due to securities laws that restrict private firms from selling securities to the general public [5] - Investment in private companies is generally limited to accredited investors, who are defined as individuals or entities with a net worth of at least $1 million, excluding their primary residence [6] Group 3: Types of Private Investments - Private investing can take various forms, including angel investing for early-stage startups, venture capital for growth support, and late-stage investments known as private equity investing [7]