Conduit

Facts about private funds, from the public record

Conduit reads public registers, regulator filings and pension plans' own published tables, and turns them into documents a reader can use without further work. Two pieces of research are free to download. The other two are samples of what Conduit prepares for clients.

Research · free to download

Register facts · English and Japanese

Who reports private funds to the US SEC

A count of the 12,122 firms that tell the US Securities and Exchange Commission they run private funds, by head-office country and fund type, from the SEC's adviser lists dated 2 October 2026. 49 of the firms are in Japan and Korea. The workbook lists every firm with its CRD number (the SEC's permanent firm number), so a reader can check a manager without relying on name spelling.

Jurisdiction survey · English

Where LP data is public

What 65 jurisdictions make public pension plans release about the private funds they hold, and where to find it. Only 9 make a plan release each fund's returns. Plans post far more than the law asks: 12,357 fund rows. Every verdict cites the statute, regulation or published table behind it.

Samples of client work

For a pension plan

Manager news brief

Conduit checks a period's public news against a plan's published fund holdings and reports what happened at the firms behind its funds: deals, exits, lawsuits, people. Each item links to the original report. This sample was built for a real US public pension plan; the plan's name, its funds and its commitments are withheld. The news, the managers and the sources are real.

One page per company · for a lender, buyer or investor

Who owns this company

A one-page answer to “which private fund owns this UK company?”, traced through Companies House, the GLEIF register of legal entity identifiers and the fund manager's SEC filing, with a diagram and a source for every step. Client reports name real companies. In this example every company, fund, manager and number is made up; the structure and the sources are those of a real report.

Everything here is information only. Conduit does not rate, rank or recommend any fund or manager. To ask about a brief or a report for your own holdings, write to kyasuda@stargira.com.