New, independent Joint Venture integrates Ipreo’s iLEVEL technology with Hamilton Lane’s premiere LP data services operations
New York and Bala Cynwyd, Penn. — Ipreo and Hamilton Lane (NASDAQ: HLNE) today announced the launch of Private Market Connect LLC, a joint venture developed to help solve the existing data challenges faced by Limited Partners and address the information inefficiencies that exist throughout the private markets globally. Private Market Connect will focus on scaling, automating and normalizing the information flow between General Partners (GPs) and Limited Partners (LPs) – ultimately resulting in straight-through processing.
This venture represents the latest evolution in an existing strategic partnership forged between the firms in 2012. Both Ipreo and Hamilton Lane continue to build upon their original shared goal of advancing industry cooperation and addressing the considerable data challenges that exist between GPs and LPs.
Combining market expertise and insight, along with industry-leading technology, Private Market Connect was formed as a separate entity to provide end-to-end support of a representative community of market participants that will create the next generation of straight-through processing within the industry. Private Market Connect integrates Ipreo’s iLEVEL technology with Hamilton Lane’s premiere LP data management services to automate and normalize the collection of fund and underlying portfolio company data from GPs. This unique combination aims to provide institutional investors with accurate transparency into the lifecycle of their investments.
Hamilton Lane has long been committed to investing in its internal resources and infrastructure as a means of enhancing portfolio monitoring on behalf of its clients. Likewise, iLEVEL has continually demonstrated its ability to support the ongoing development and implementation of cutting-edge communication and monitoring technologies for the private markets. As a result of this venture, Hamilton Lane’s current and future clients will continue to benefit from the firm’s premiere Reporting and Analytics Solutions, which will include the full power of Private Market Connect; in addition, iLEVEL will now offer its clients data management services provided by Private Market Connect.
"We are excited to expand upon our strategic partnership with Ipreo in an effort to further scale our best-in-class portfolio administration service offerings for LPs," said Erik Hirsch, Vice Chairman at Hamilton Lane. "In partnership with Ipreo, we are transforming the private capital markets to create a more well-connected ecosystem with technology as the backbone and with the ultimate objective of driving greater transparency and efficiency in our asset class."
Hamilton Lane’s experience in private market data aggregation dates back to the firm’s inception in 1991. Over the years, Hamilton Lane has developed a unique data control environment to assist its clients in data management, while seeking to ensure compliance with the highest standards of data controls and quality. Hamilton Lane has also amassed one of the largest and most robust private markets databases in the industry, tracking 4,400 unique funds and $3 trillion in private markets commitments managed by more than 1,200 GPs with vintage years dating back to 1974. Ipreo’s iLEVEL platform supports more than 450 clients today, including seven of the top 10 private equity firms1, five of the top 10 venture capital firms worldwide2, and many of the world’s largest limited partners.
"Developing Private Market Connect with Hamilton Lane is an exciting and transformational milestone – both for our businesses and for the evolution of the private markets as a whole," said Kevin Black, EVP and Head of Ipreo Private Capital Markets. "The need for simple, technology-enabled, straight-through processing of data in the private markets has been intensifying for many years. With Private Market Connect, we believe we have the right vehicle with the right capabilities to bring this much-needed solution to the market."
Ipreo is a leading global provider of financial services technology, data, and analytical services, supporting all participants in the capital-raising process including sell-side professionals, finance officers at private and public companies, institutional investors, and asset managers. Ipreo’s solutions for private capital markets are the premier choice for the private capital industry to address growing pressures for transparency and regulatory compliance. Our full range of products offers solutions for portfolio assessment, valuations, investor reporting, operating metrics, or investment performance. Ipreo is private-equity held by Blackstone and Goldman Sachs Merchant Banking Division, and has more than 1,100 employees serving clients in every major financial hub around the world. Learn more at PCM.Ipreo.com.
About Hamilton Lane
Hamilton Lane (NASDAQ:HLNE) is a leading alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. Dedicated to private markets investing for 25 years, the firm currently employs more than 290 professionals operating in offices throughout the U.S., Europe, Asia, Latin America and the Middle East. With more than $332 billion in total assets under management and supervision as of December 31, 2016, Hamilton Lane offers a full range of investment products and services that enable clients to participate in the private markets asset class on a global and customized basis. For more information, please visit www.hamiltonlane.com, or follow Hamilton Lane on Twitter: @hamilton_lane.
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1 2017 PEI 300
2 Pitchbook, January 2017