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With the desire to have private market exposure alongside publicly traded stocks gaining traction among investors, Morningstar has developed a benchmark to reflect the trend.

The Morningstar PitchBook US Modern Market 100 Index, or the Modern Market 100, is the first to combine public and private equity exposure in one index, the investment research company announced Wednesday. The benchmark is meant to capture the performance of 100 of the largest U.S. companies, broken down to 90 public firms and 10 venture-backed companies, the firm said.

The 90/10 skew is designed to reflect what Morningstar considers the modern asset universe, which is one where opportunities are expanding in the private markets and companies

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