PMAR 2025 Recap: Performance at a Crossroads – Private Markets, AI, and Global Volatility

Meradia was proud to attend the Performance Management & Risk (PMAR) Conference, where leaders in performance measurement, risk, and investment operations convened to exchange ideas and insights. With sessions focused on the continued growth of private markets, the rise of data automation and artificial intelligence (AI), and the changing global economic landscape, this year’s event spotlighted transformation across all facets of performance.

Meradia’s Andrew Rankin, Brad Waitsman, and Jenny Xu joined fellow industry professionals to explore how firms are adapting performance reporting frameworks to meet the increasing complexity of today’s investment environment.

Global Market Strategy: Rethinking Risk Amid Uncertainty

In a dynamic keynote, Dr. John Longo examined how today’s macroeconomic instability, ranging from inflationary pressures and shifting monetary policy to global trade tensions, is shaping investment opportunities. He highlighted the potential for non-U.S. equities, emerging market consumers, and alternative hedging strategies to drive returns in a volatile environment.

Dr. Longo also outlined various trading strategies leveraging derivatives to consider in a high-volume, uncertain environment. His session underscored the importance of agility and innovation in portfolio construction, principles that align with Meradia’s work helping clients implement flexible, insight-driven performance and risk frameworks.

Private Markets & Derivatives: Advancing Measurement Methodologies

With institutional investors increasing their exposure to private equity, tangible assets, and private credit, PMAR featured a timely discussion from Dax Johnson on performance methodologies across complex and illiquid asset classes. The session emphasized the need for improved data quality, benchmark alignment, and the integration of both IRR and TWR measures, depending on fund structure and investor goals.

There was also a consistent theme that tackled performance reporting approaches and considerations for derivatives, including futures, currency forwards, swaps, and options, highlighting the need for customized, strategy-aligned reporting. These are key areas where Meradia supports clients in navigating data complexity and modernizing performance workflows.

Performance Technology: Automation, AI, and Scalable Solutions

In one of the conference’s most future-focused panels, Todd Juillerat, Damian Handzy, and Jose Zayas explored how automation and artificial intelligence are reshaping performance operations. Natural language processing, data validation tools, and cloud-native reporting platforms are enabling faster insights; however, they require robust governance and control frameworks to manage risk effectively.

As asset managers and asset owners scale across asset classes, performance functions must modernize in parallel. Meradia helps clients implement performance technologies that strike a balance between innovation, compliance, auditability, and long-term scalability.

Meradia Keynote:

Meradia’s Jose Michaelraj delivered a standout keynote on how machine learning can enhance data quality across investment operations. In his presentation, “The Future of Data Quality: Harnessing Machine Learning to Enhance Investment Operations,” Jose outlined a path away from traditional, rule-based data checks toward an adaptive machine learning framework that improves over time.

Rather than relying on static rules that decay or generate false positives, Jose demonstrated how Meradia developed a working prototype that mimics human intuition, identifying meaningful patterns, reducing operational noise, and scaling exception management more effectively. His approach combines classical machine learning algorithms, statistical analysis, and workflow integration, enabling firms to build intelligence directly into their operational infrastructure.

For those looking to dive deeper, Jose’s ideas are further explored in his recent white paper, Applying Machine Learning Techniques in Investment Performance: Uncovering Heuristics to Decipher Data Quality Checks, and his blog, Machine Learning: Transforming Data Quality in Investment Operations.

Key Takeaway:

PMAR 2025 made clear that the role of performance professionals is expanding. From AI-driven data validation to bespoke private markets reporting frameworks, performance is now a strategic function, critical to investment decision-making, regulatory readiness, and client transparency.

Meradia continues to partner with firms to modernize operations, enhance performance measurement, and future-proof their capabilities across asset classes.

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