Author: Sarah Rundell | Date: November, 18 2016 | Source: Top1000funds.com
Almost a year on from the launch of its private equity reporting template on fees, expenses and carried interest, the Washington-based Institutional Limited Partners Association (ILPA) reports “significant progress” in the template’s adoption.
“We require the managers of all new commitments to use the ILPA template,” said a spokesperson for the fund, which has 7.8 per cent of assets in private equity.
“Over half of our managers are either using the ILPA template or are working to use the ILPA template.”
Private Equity Market: Can New Data Standards Win?
Author: Chris Kentouris | Date: March, 12 2014 | Source: FinOps Report
“The private equity fund industry did have high-level guidelines as to what information should be included in reports, but can now count on consistent data formats and data points.
By having the exact same information using consistent XML-based formats in electronic form, institutional investors should have far less difficulty in interpreting the data. Institutional fund managers wanting to consolidate their capital with fewer, better performing private equity fund managers can understand data at the investor and eventually below the portfolio level.” – Stuart Keeler, chief operating officer, eFront
“We think that AltExchange is a worthwhile initiative which is why we joined. We will be testing the formats after we complete our installation of eFront system and have one private equity fund of funds client who says it is interested.” – Gus Tambakis, director of business development, MB Fund Administration
Financial Technology: The New Normal
Author: Tim Burroughs | Date: July, 8 2013 | Source: Asian Venture Capital Journal
“Standardization will come,” says Tarek Chouman, managing director for Asia and the Middle East at eFront, a software solutions provider. “If LPs pressure GPs to report in a specific open format, it will be hard for the GPs to say no – either because a particular LP is important to them or because many LPs are asking for it. And if the GP can report in one format to all LPs, it might be just as happy.”
Private Equity’s Data Play
Author: Tim Bourgaize Murray | Date: June, 13 2013 | Source: www.waterstechnology.com
“For many of the large LP’s, they might be managing 100 GP relationships, and today as they request information quarterly, there will be some level of push, but an awful lot of pull, and so from an investor relations staffing standpoint, that’s challending.” – Ed Brandman, KKR
“If someone isn’t interested in improved portfolio management through better data management through better data management and analysis in today’s environment, it makes you wonder about their overall consideration on being a fiduciary.” – Joncarlo Mark, Upwelling Capital
“Two or three years ago, there would have been zero traction for this. If you look at what firms are already asking for and sharing today – far more than in the past – GP’s are potentially producing 20 to 30 individualized investment packs every quarter, while LPs are receiving those in all different formats. We decided there has to be a smarter way.” – Stuart Keeler, Managing Director, Data Services, eFront
Data Sharing: A bold standard
Author: Matthieu Favas | Date: June, 1 2013 | Source: Private Equity International – The Fund Administration and Technology Special 2013
“As the asset class has become further institutionalized and the number of participants has grown, there’s been a lot of effort put into templates for data population. The ultimate goal of AltExchange is to make the process more automated.” – Karin Lagurlund, Chief Financial Officer, Harbourvest
“It’s not about storing data, or specifying what that data should be. AltExchange is exactly that: an exchange. It’s about making sure that the data comes across in a consistent way.” – Christopher Ward: Head of Business Development, eFront