JPMorgan Creates New Index Tracking 6,400 Private Companies (1)

JPMorgan Chase & Co. created an index tracking private midsize companies in the US with a combined $1 trillion in annual revenue, the first of a series of planned tools to provide investors with greater transparency into the world of closely held firms.

The product is aimed at providing general partners, limited partners, corporations and middle-market firms “an institutional-grade measuring stick,” according to a pair of JPMorgan research reports this week announcing the new benchmark. It includes about 6,400 firms, each with annual revenue of $10 million to $1 billion.

The index’s levels will be estimated based on revenue growth ...