Swati Bairathi
January 2, 2026
Why We Built Peppercorn
Here's a question that should be easy to answer: How does that interval fund in your client's portfolio affect their overall risk exposure?
It's not easy. And it's not because the math is hard—it's because the infrastructure doesn't exist. Private market data is scattered, inconsistent, and nearly impossible to integrate with the sophisticated portfolio tools advisors use every day for public securities.
We've spent our careers building wealth management technology, most recently at 55ip (acquired by J.P. Morgan) where we scaled tax-managed direct indexing and unified managed accounts to thousands of advisors. We knew the public markets tech stack inside and out.
But the market has shifted dramatically. Today, 87% of U.S. companies with over $100M in revenue are private. Meanwhile, public markets are increasingly concentrated in a handful of mega-cap tech stocks. For advisors trying to build diversified portfolios, private markets aren't optional anymore—they're essential. technological shift not only increases efficiency but also opens new avenues for innovation across industries.
The problem? Private investments are a black box.
When we talked to wealth managers, the frustration was universal. Due diligence is mostly qualitative. Performance data is spotty. And even when advisors find good funds, managing them alongside public portfolios becomes a nightmare. Most private investments sit in client accounts without systematic monitoring, rebalancing, or liquidity planning.
The complexity goes deeper. Private funds have unpredictable distribution schedules—when will that interval fund actually let you redeem? How much cash will that BDC distribute next quarter? These aren't edge cases—they're fundamental to portfolio construction. Yet advisors are managing portfolios with one hand tied behind their back, unable to model liquidity events, forecast distributions, or rebalance intelligently around illiquidity constraints.
Want to show a client how that interval fund affects their overall portfolio risk? Or explain when they'll actually be able to access that capital? Good luck. The tools don't exist.
We're fixing this.
At Peppercorn, we're building the comprehensive data infrastructure for evergreen private investments—interval funds, BDCs, tender offer funds—so advisors can finally analyze these assets with the same rigor they apply to stocks and bonds.
We're giving advisors the ability to:
Understand private funds with the same depth as public securities
Model how private investments work within complete client portfolios, including liquidity constraints and distribution patterns
Manage hybrid portfolios holistically, with visibility into redemption windows and cash flow timing
Explain the real benefits and risks to their clients with clarity and confidence
Our goal is simple: make private investments as transparent as public ones.
The wealth management industry is evolving. Your portfolio management technology should too.
Welcome to Peppercorn.
Want to learn more about how we're bringing transparency to private markets? Follow along as we share our insights on portfolio construction, optimization, private market data, and the future of wealth management.
