Deal-level benchmarks are transforming private market analysis, unlocking significant benefits for LPs, GPs and service providers, says StepStone Group partner and chief technology officer Tyler Johnson. This article is sponsored by StepStone Group Is private markets’ historic reputation for a lack of transparency deserved? Tyler Johnson It’s true that private markets have historically been opaque. Some transparency has existed at the fund level through public disclosures and the proliferation of data gathering by fund-level information providers, but deal- and company-level information has long been difficult to find.