Reference data informs the work. We govern the IC decision.
FactSet is best-in-class public-markets reference data, analytics, and analyst workflow. Capital Refinery is the decision integrity layer for private-markets IC — different lane, complementary stack.
The stack provides reference. Capital Refinery governs private-markets decisions.
What FactSet owns
Public-markets reference data and analyst workflow.
Strong for public-market reference data, comps, screens, and analyst workflow. Deep history, broad coverage, institutional-grade. The right tool for the public-markets reference layer.
What Capital Refinery owns
The private-markets IC decision and the drift after it.
Lane-aware IC memo from raw private deal pack, Risk Signals graded against firm policy, source-backed numbers, IC anchor on approval, drift tracking, signed exports for LP.
Why teams run both
FactSet covers public-markets context. Capital Refinery defends private-markets decisions.
Many private-markets teams use public-markets reference data — comps, sector benchmarks, public-comp multiples — to inform underwriting. FactSet provides that context. Capital Refinery defends the private deal that uses it.
Institutional readiness measurement
FactSet provides public-markets reference data, analytics, and analyst workflow. Capital Refinery operates a category FactSet doesn’t: institutional readiness measurement on specific private operating businesses — graded against the same 10-axis framework that buy-side ICs, lender credit committees, and LPs use to evaluate. The artifact carries a deterministic fingerprint and a public verification URL.
The two product surfaces don’t compete — they operate at different layers of the stack. FactSet handles public-markets reference data; Capital Refinery handles private-markets structural readiness and decision integrity. See institutional readiness and the same-engine architecture for the dimension FactSet doesn’t address.
Keep FactSet for public-markets reference. Add the IC layer for private deals.
Bring us a private deal pack. Same-day diagnostic pack back.
Keep FactSet if you need institutional financial data and analytics. Use Capital Refinery when you need a neutral, evidence-backed readiness artifact that shows what will survive institutional review.
Capital Refinery is the institutional measurement layer. It does not replace FactSet; it sits next to it. The decision to engage is a routing decision, not a swap.
When to use CRIf FactSet is the reference layer for public comps and macro data but the IC memo on a private target still has to be built deal-by-deal from the CIM and management files, that’s when Capital Refinery’s private-markets IC layer enters. FactSet anchors the public-comparable view; CR grades the private deal against institutional-readiness thresholds.
Working with an advisor or AI consultant? Use CR as the independent measurement layer via the Modernization Impact Review. Want to shape the methodology? Apply as a design partner.