eVestment Forms Alliance To Improve Private Market Due Diligence

Nov 3 2016 | 10:41pm ET

Alternative industry data provider eVestment has launched a new consortium aimed at establishing standards for reporting private equity fund performance data.

Named the eVestment Private Markets Alliance, eVestment’s consortium is comprised of eleven leading investment consulting companies advising on more than $8 trillion in assets. The group aims to establish a common approach for communicating quantitative and qualitative performance data and eventually develop a clearinghouse platform whereby the fund manager maintains control over data distribution, eVestment said in a statement. 

Participants in the Alliance to date include Angeles Investment Advisors, Colonial Consulting, Ellwood Associates, Marquette Associates, NEPC, RCLCO, Rocaton Investment Advisors, Pension Consulting Alliance, Russell Investments, RVK and Segal Rogerscasey.

eVestment will continue to expand the Alliance globally to involve additional consulting, investor and fund of funds members, the company said. 

“The current state of information flow in private markets greatly resembles that of the traditional assets space 16 years ago,” said Heath Wilson, co-founder of eVestment. “Investors and consultants need access to granular information and are overwhelming fund managers’ investor relations resources. By putting the weight of influential consultants and allocators behind this effort and utilizing our best-in-class data collection and analytics solutions, eVestment is streamlining the workflow for both parties during research and due diligence.”

With Alliance members adopting eVestment TopQ as their preferred method to receive and analyze private markets investment performance, fund managers gain a single, efficient way to privately and securely report performance with investors and consultants of their choice. 

This clearing-house approach will dramatically reduce the amount of time managers spend responding to data requests, allowing them to focus on other valuable aspects of investor relations, eVestment added. This approach to permission-based track record sharing is the first truly GP-friendly solution in the marketplace.

For consultants and investors, the Alliance offers access and analysis of private markets managers’ track records in a transparent and consistent format. eVestment believes the ability to compare managers on an apples-to-apples basis will facilitate due diligence, inprove decision-making, eliminate the chasing of data and remove the potential for human error during analysis.

Atlanta-based eVestment was founded in 2000 by Wilson, Jim Minnick, and Matt Crisp. The company boasts one of the largest, most comprehensive global databases of traditional and alternative strategies and provides institutional investment data intelligence and analytic solutions to clients worldwide.

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