Resources

Research, Education, and
Market Perspective

Proprietary research, allocation frameworks, and market analysis from BIP Capital's leadership team — designed to inform private market strategy at the advisory firm and investment committee level.

Registered advisor? Access our BIP Capital Intelligence platform for deeper research.
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Advisor Insights
Growth Equity
Private Credit
Market Outlook
Portfolio
Advisor Insights

Vintage Discipline When Deployment Never Stops

What the 2019 to 2021 vintages cost allocators, why continuous deployment transfers pacing control rather than removing it, and what to ask a manager.

Oct 29, 2026
BIP Capital
Advisor Insights

Questions to Ask a Venture or Growth Equity Manager About AI in Their Portfolio

Six questions to ask a venture or growth equity manager about AI exposure in their portfolio.

Oct 27, 2026
BIP Capital
Private Credit

Private Credit for RIAs: A Complete Guide

How private credit works, how to access it, and how to size it for clients. A preview of the 13-chapter guide for RIAs.

Oct 26, 2026
BIP Capital
Advisor Insights

The Indexing Instinct in an Inefficient Market

The two conditions indexing requires, why private benchmarks measure a reporting population rather than an asset class, and how to use one in diligence.

Oct 22, 2026
BIP Capital
Growth Equity

How RIAs Build and Document a Private Equity Allocation

How RIAs pace private equity commitments across vintages, choose drawdown or evergreen vehicles, set manager count, and document each recommendation.

Oct 20, 2026
BIP Capital
Advisor Insights

A Framework for Evaluating Private Market Funds

A four-layer framework for calculating the all-in cost of any private-market fund across fund types, share classes, and direct or platform access.

Oct 19, 2026
Mark Buffington
Advisor Insights

Does Manager Persistence Still Exist?

The 2026 research disagreement on manager persistence, the transition probabilities behind it, and what to examine instead of a quartile ranking.

Oct 15, 2026
BIP Capital
Advisor Insights

How RIAs Size a Private Equity Allocation

RIAs size private equity by working back from what each household can commit for ten years under stress, then letting manager access set how much to use.

Oct 13, 2026
BIP Capital
Advisor Insights

Diversification, or Buying the Median

Why diversification behaves differently in a skewed distribution, what the research says about optimal fund count, and the case against concentration.

Oct 8, 2026
BIP Capital
Advisor Insights

Private Markets, Explained: Access The Private Markets Primer

How private equity, venture capital, and private credit work, and how to explain them to clients. A preview of the 2026 Private Markets Primer.

Oct 5, 2026
BIP Capital
Advisor Insights

Access or Selection: What Actually Decides a Private Markets Outcome

The gap between the best and worst private equity managers is roughly 13 percentage points. The asset class premium is roughly two.

Oct 1, 2026
BIP Capital
Advisor Insights

How Advisory Firms Assess Multi-Stage Private Equity Strategies: Return Metrics, Due Diligence, and Portfolio Fit

How RIAs evaluate multi-stage venture and growth equity: DPI vs. TVPI and IRR, follow-on and valuation diligence, and sizing in a private markets sleeve.

Sep 29, 2026
BIP Capital
Advisor Insights

What Two Decades of Public Pension Data Tell Us About Private Equity

Mature private equity funds at CalSTRS and CalPERS returned a 13.3% mean IRR. What vintage year, manager persistence, and fund size actually explain.

Sep 22, 2026
Mark Buffington
Advisor Insights

Marking Honestly: Turning a Measurement Problem into an Operating Advantage

Appraised marks understate private-market risk. How desmoothing, look-through, and manager dispersion change what allocators should demand.

Sep 17, 2026
BIP Capital
Market Outlook

Reading McKinsey's State of AI in 2026 as an Investor

What McKinsey's 2026 State of AI data mean for advisors and allocators: workflow redesign, build-versus-buy, and which operating models stay durable.

Sep 15, 2026
BIP Capital
Growth Equity

Private Equity for RIAs: A Complete Guide

How to evaluate private equity against liquidity, fiduciary, and portfolio construction tradeoffs. A preview of the 13-chapter guide for RIAs.

Sep 14, 2026
BIP Capital
Advisor Insights

Interval Funds and Evergreen Structures: How They Work and What RIAs Should Ask

Interval funds repurchase shares quarterly at NAV, usually capped at 5-25%. Here is how evergreen structures work and what RIAs should ask before allocating.

Sep 10, 2026
BIP Capital
Market Outlook

Future of Organizations: Mathematical Expressions of Work

How automation and mathematical modeling are essential to transforming organizational roles, workflows, and competitiveness

Sep 9, 2026
BIP Capital
Advisor Insights

Why Does Manager Selection Matter More in Private Markets Than in Public Markets?

How wide the manager spread really runs in private equity, why the market never corrects it, and what advisors should evaluate before committing capital.

Sep 3, 2026
BIP Capital
Advisor Insights

After the Exit: How Distribution Waterfalls Decide Who Gets Paid, and When

Return of capital, preferred return, GP catch-up, residual split: how each waterfall tier works, and why identical gross returns can pay investors very differently.

Sep 2, 2026
BIP Capital
Advisor Insights

Volatility Laundering and the Efficient Frontier: Why Smoothed Private‑Market Marks Distort Allocation

Volatility laundering is the understatement of private-market risk caused by infrequent appraisals. How much unsmoothing changes volatility by strategy, and what it means for the efficient frontier and the Total Portfolio Approach.

Aug 25, 2026
BIP Capital
Portfolio

Nine BIP Ventures Portfolio Companies Named to the 2026 Inc. 5000

Nine companies in the BIP Ventures portfolio have been named to this year's Inc. 5000, Inc. magazine's annual ranking of the fastest-growing privately held companies in America. Ranking is based on percentage revenue growth over a three-year period.

Aug 19, 2026
BIP Capital
Advisor Insights

When the Signal Breaks: Private Markets and the Erosion of the Standard Diligence Test

Private credit default rates and private equity interim marks have lost diagnostic power. What allocators should evaluate instead in 2026 — PIK trajectory, covenant structure, and DPI.

Aug 18, 2026
BIP Capital
Market Outlook

Future of Organizations Series: The Impact of AI on HR

AI is not an upgrade cycle. It is reshaping every layer of the org chart at once. How C-suite, managers, and individual contributors are being repriced.

Aug 13, 2026
BIP Capital
Advisor Insights

Carried Interest, the 8% Hurdle, and the Terms That Determine Whether a GP's Incentives Align With the LP's

What carried interest, the 8% preferred return, catch-up, waterfall, and clawback terms reveal about whether a fund manager's incentives align with investors.

Aug 11, 2026
BIP Capital
Advisor Insights

Illiquidity in Private Market Investing Is Not a Flaw. It Is the Tradeoff.

The illiquidity premium is the extra return investors may earn for locking up capital. It is not guaranteed. What Cambridge Associates and Cliffwater data show, how it varies by vehicle, and why manager selection matters most.

Aug 5, 2026
BIP Capital
Market Outlook

The Future of Organizations: Five Framework Models for an AI-Driven Company

How AI reshapes organizational structure, the value chain, and the manager's decision to convert freed capacity to margin or redeploy it to growth.

Jul 28, 2026
BIP Capital
Advisor Insights

The J-Curve in Private Markets: What Advisors Need to Know Before the First Statement Arrives

Why early private fund returns dip, how evergreen and credit structures change the J-curve, and how advisors can set client expectations.

Jul 8, 2026
BIP Capital
Market Outlook

The Future of Organizations: This Time, It’s Different

Mark Buffington on why nearly three decades of financial history — from LTCM to COVID — didn't prepare him for AI. The first in BIP Capital's Organization of the Future series.

Jul 1, 2026
Mark Buffington
Advisor Insights

Why the Traditional 60/40 Portfolio Was Built for a Market That No Longer Fully Exists

The 60/40 portfolio was built when public markets captured most value creation. That has changed. A structural look at where private markets now fit.

Jun 24, 2026
BIP Capital
Advisor Insights

Private Markets and the Case Against Public Market Concentration Risk

S&P 500 concentration risk is at historic highs while public companies have nearly halved. What the structural shift means for advisor portfolios.

Jun 9, 2026
BIP Capital
Growth Equity

BIP Capital Welcomes John Gu as Partner

An experienced investor and engaged partner, John Gu has been a driving force on the BIP Capital investment team since joining as Partner in 2025.

Apr 9, 2026
BIP Capital
Market Outlook

The Great Repricing

AI is simultaneously repricing businesses across every sector. BIP Capital's Mark Buffington breaks down which companies are being disrupted — and which are being amplified — and what investors should do about it.

Apr 8, 2026
Mark Buffington
Private Credit

Taking a Deeper Dive into Private Credit

Private credit markets are experiencing a clear division between managers who prioritize disciplined credit underwriting and those focused on capital deployment, leading to varied fund performance and market repricing of risk.

Mar 2, 2026
Mark Buffington
Advisor Insights

The Advisory Firm of the Future

How advisory firms are using AI to enhance human judgment—not replace it. Explore the future of wealth management where technology amplifies what advisors do best for their clients.

Feb 25, 2026
Mark Buffington
Market Outlook

The 2025 State of Startups in the Southeast Investor Implications

The 2025 State of Startups report shows a mature, disciplined Southeast venture market. Discover what it means for private market investors and wealth advisors.

Oct 15, 2025
Mark Flickinger
Market Outlook

Podcast: Private Market Valuations, Fund Access, and Evergreen BDCs

Mark Flickinger joins the BIP Wealth Ahead in the Count podcast to discuss private market valuations, evergreen funds, and how RIAs and HNWIs can expand portfolio access.

Oct 2, 2025
BIP Capital
Market Outlook

Podcast: Why Private Markets Are Reshaping the Future of Investing

Mark Flickinger joins the Money Tree Investing podcast to explain why private markets are reshaping investing for HNWIs and RIAs seeking to diversify their portfolio and align their wealth goals.

Aug 26, 2025
Mark Flickinger
Market Outlook

Mid‑Year 2025 Venture Capital Update

Drawing on data from PitchBook-NVCA and the State of Startups in the Southeast(SM) 2025 report, this mid-2025 review unpacks U.S. private-capital health, stage-by-stage deal shifts, the AI funding wave, and how Alabama-to-Virginia ecosystems stack up against Bay Area, New York, and Boston.

Aug 12, 2025
BIP Capital
Market Outlook

Podcast: Mark Flickinger on Diary of a High Net Worth Investor

Mark Flickinger of BIP Ventures shares insights on venture capital, private credit, and evergreen BDCs to help HNWIs and RIAs build smarter portfolios.

Jul 25, 2025
BIP Capital
Portfolio

Peregrine Health Names Adam Peebles CEO to Lead Next Chapter of High-Growth Mission

Peregrine Health, a BIP Ventures Evergreen Fund portfolio company, names Adam Peebles CEO to scale tech-enabled behavioral health in underserved communities.

Jul 10, 2025
BIP Capital
Portfolio

Doing Business as Nod Health, Istios Health Announces a $5.6M Seed Funding Round Led by BIP Ventures

Istios Health (dba Nod Health) raises $5.6M led by BIP Ventures to build the first national infectious disease (ID) care platform.

Jun 25, 2025
BIP Capital
Growth Equity

Podcast: How BIP Ventures is Expanding Access to Private Equity Through Evergreen Funds

Mark Flickinger joins the Alt Investing Made Easy podcast to share how BIP Ventures’ Evergreen BDC expands access to private equity for individuals.

Jun 17, 2025
Mark Flickinger
Market Outlook

Semi-Liquid Private Market Investment Assets: A Guide for HNWIs and RIAs

Understand how semi-liquid private market investments—evergreen funds, interval funds, and BDCs—create flexible access, income, and portfolio diversification.

Jun 4, 2025
BIP Capital
Private Credit

Podcast: How Evergreen BDCs Are Widening Access to Private Credit

Mark Flickinger joins the Alternative Investing Advantage podcast to discuss private credit, Evergreen Funds, BDCs, and investor access strategies.

May 13, 2025
Mark Flickinger
Growth Equity

Understanding the Venture Capital Power Law

Why the Venture Capital Power Law model often fails HNWIs and how a diversified, business-building approach can lead to better long-term outcomes.

Apr 16, 2025
BIP Capital
Growth Equity

Understanding MOIC as a Measure of Investment Outcomes

Understanding MOIC can enhance confidence in private market investment decisions. This article explains how to use the metric to evaluate funds, managers, and opportunities and how other metrics like IRR contribute to a holistic snapshot of a fund.

Mar 26, 2025
BIP Capital
Market Outlook

Evergreen Funds Are Reshaping Private Market Investing for RIAs and HNWIs

Insights from the Uncorrelated Alts Conference on how Evergreen funds are transforming private market investing for RIAs and HNWIs with liquidity and growth.

Feb 12, 2025
BIP Capital
Market Outlook

2025 Private Market Outlook: Trends, Challenges, and Opportunities Shaping Alternative Assets

Discover 2025 private market trends: AI deals, Evergreen funds, private credit, and portfolio shifts. Insights for RIAs and HNWIs to drive returns.

Jan 23, 2025
BIP Capital
Market Outlook

The Current and Future State of AI

Mark Buffington explores AI's transformative role in private capital, balancing optimism with responsibility. Discover insights on decision-making and innovation.

Dec 12, 2024
Mark Buffington
Market Outlook

Investor Highlights from the 2024 State of Startups in the Southeast Report

Insights for HNWIs and RIAs from the BIP Ventures 2024 State of Startups in the Southeast report, including private market trends, sector growth, and investment opportunities.

Dec 10, 2024
BIP Capital
Market Outlook

The Case for Integrating Private Market Alternatives

Integrating private market alternatives is redefining portfolios. Discover why private equity, venture capital, and Evergreen funds are essential for investors.

Oct 31, 2024
BIP Capital
Market Outlook

The 2024 State of Startups in the Southeast Report

The 2024 State of Startups in the Southeast report reveals stable capital growth, rising check sizes, and a resilient innovation landscape across the region.

Oct 25, 2024
Mark Flickinger
Growth Equity

Adding the Stable to the Track, Jockey, Horse Model

This MB on VC updated take on the Track/Horse/Jockey/Stable analogy explains why leadership, market, business model, and capital partner matter for success.

Oct 16, 2024
Mark Buffington
Portfolio

BIP Ventures Evergreen BDC Leads Korio Series A Funding

BIP Ventures leads Series A funding for Korio, driving the growth of its innovative Randomization & Trial Supply Management (RTSM) platform.

Sep 11, 2024
BIP Capital
Advisor Insights

The Rise of the Advisor Mega Platform

Mark Buffington reflects on BIP Capital's innovative approach to private market investing and the factors driving the rise of advisor mega platforms.

Sep 4, 2024
Mark Buffington
Market Outlook

The Smart Investor’s Guide to Private Market Opportunities

Discover the benefits of private market investments and learn how to diversify your portfolio with evergreen funds and expert guidance from a trusted RIA.

Aug 6, 2024
BIP Capital
Market Outlook

Podcast: The State of Private Markets and Evergreen Funds in 2024

Listen to the BIP Wealth podcast to discover the benefits of evergreen funds and the evolving private markets with Mark Flickinger of BIP Capital.

Jul 30, 2024
Mark Flickinger
Growth Equity

Guide to Private Market Individual Investor Classifications

Understand the investment abilities and private market funds for accredited and non-accredited investors, qualified clients, and qualified purchasers.

Jul 15, 2024
BIP Capital
Growth Equity

The Strategic Role of Carve-Outs in Venture Capital Investing

Carve-outs can provide strategic benefits to private market HNWIs and RIAs. This post explains the types, investing processes, and popularity.

Jul 8, 2024
BIP Capital
Advisor Insights

What is an Evergreen BDC Fund?

This post answers the question 'What is an evergreen fund?' and explains how Debt and Equity BDCs work to balance rewards, returns, and risks for accredited investors in the private market.

Jun 24, 2024
BIP Capital
Growth Equity

10 Observations on Venture Capital Investing from an Industry Veteran

Mark Buffington offers seasoned insight into the ethical and market nuances crucial for private market investors participating in the Innovation Economy through venture capital.

Jun 19, 2024
Mark Buffington
Growth Equity

The True Measure of TVPI as a Value Metric

Avoid being fooled by inflated TVPI (Total Value to Paid-In Capital) by understanding the equation, how it can be manipulated, and what questions to ask your investment partners.

Jun 12, 2024
Mark Buffington
Growth Equity

Lies, Damn Lies and TVPI

Explore the limitations of TVPI in venture capital fund evaluation and discover why consistent DPI is a better predictor of future performance. Learn more here.

Jun 12, 2024
Mark Buffington
Growth Equity

The Expert Guide to Compounding Returns with Evergreen Funds

Maximize wealth growth opportunities with compounding returns. Learn how Evergreen Funds like the BIP Ventures Evergreen BDC benefit HNWIs, multi-family offices, and their RIAs.

Jun 10, 2024
BIP Capital
Advisor Insights

The Innovation of Permanent Capital Structures: Improving Access and Liquidity for RIAs

Discover how permanent capital structures enhance access and liquidity for RIAs. Learn from Phil Davidson at BIP Ventures about improving your investment strategy.

Jun 4, 2024
BIP Capital
Advisor Insights

The (Not-so) Secret to Identifying Expert Money Managers

Learn the key factors that differentiate exceptional private market investment advisors and 5 qualifiers that can signal expertise and superior performance – even before long-term portfolio success becomes obvious.

Jun 4, 2024
Mark Buffington
Advisor Insights

16 Insights About Wealth Creation and the Wealth Management Industry

Gain 16 points of wisdom about the wealth management industry from Mark Buffington, who has led BIP Capital for close to 20 years as a wealth advisor, investor, and venture capitalist.

Jun 4, 2024
Mark Buffington
Market Outlook

BIP Capital Announces that BIP Ventures is the North American-focused Venture Capital Division

BIP Capital announces that its core North American venture products will be branded as BIP Ventures and invest in the success of B2B software and tech-enabled service businesses at all stages of maturity.

Jun 15, 2023
BIP Capital
Growth Equity

Track, Jockey, or Horse?

To create startup success, which is most important: the Track, the Jockey, or the Horse? VCs don't always agree. See what we argue for and why.

May 24, 2023
Mark Buffington

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