PEF Services has launched a new investor portal in response to private equity firms demanding more transparency from their service providers.
The private equity fund administrator introduced the new proprietary portal, ViewPoint, to give its clients access to self-service performance reporting, data visualisation and access to underlying data.
As private markets mature as a wider-adopted asset class, so are investor expectations, particularly around reporting and transparency.
In Global Custodian’s Hedge Fund Annual this year, we highlighted how clients have demanding more granular, near real-time performance reports.
Meanwhile, many are making their investments conditional on GPs filling out the ILPA (Institutional Limited Partners Association) fee disclosure template – a transparency framework introduced in the wake of regulatory and investor criticism about erroneous costs and charges creeping in at private equity managers.
The increased reporting has been draining on private equity operational teams, prompting some firms to farm it out to their external vendors to appease their investors.
“The growing number of investors who are no longer satisfied with investor portals that are limited to document storage and delivery represent a significant underserved group of professionals,” said Anne Anquillare, CEO and president, PEF Services.
“We developed ViewPoint for our clients and their investors that are looking for a purpose-built portal that delivers greater visibility and real-time access to underlying investment performance data sourced directly from the books and records of the fund.”
Through PEF’s, ViewPoint, investors are able drill down into data specific to their individual commitments, contributions, distributions, capital accounts, and fund performance, according to the fund administrator.