The AltExchange Alliance, the non-profit global private equity group with the objective to define and maintain a set of common data standards for the industry, has added four new members The Institutional Limited Partners Association (ILPA), SunGard, private equity firm AlpInvest, and PwC.
The Alliance says that as it progresses from formulating the standards to promoting adoption, ILPA’s participation is important since the group has previously campaigned for harmonized data standards within the industry, and ILPA’s best practice guidelines set a precedent for the AltExchange project.
Since forming in May 2013, the Alliance now has 50 member firms ranging from Limited Partners (LPs) and General Partners (GPs) to consultants and service providers. It has also published the Group One standard, which is the industry’s first detailed template for the exchange of data related to capital accounts, schedules of investments, and cash flow activity.
“Developing a common data standard, that can be practically applied by the industry, has taken an incredible amount of work over the past year and we are delighted to see that effort is now paying off with heavy-weights such as PwC, ILPA, AlpInvest and SunGard joining our ranks,” says Fraser Booth, senior investment manager at Universities Superannuation Scheme (USS), a U.K. higher education pension scheme. “It is proof positive that AltExchange is a truly collaborative undertaking with the full backing of the wider industry. Having the support and expertise of these highly influential players will help tremendously as we seek to communicate more widely within the industry, and drive adoption during the second half of the year.”
“In defining common data standards and promoting their adoption, AltExchange will have transformational value for the alternative investment industry…ultimately these standards will enable technology solutions to help increase efficiency and provide more insightful data and analytics,” says Doug Morgan, president of institutional asset management at SunGard.
Private Equity Alliance for Data Standards Adds Four New Members
The AltExchange Alliance, the non-profit global private equity group with the objective to define and maintain a set of common data standards for the industry, has added four new members The Institutional Limited Partners Association (ILPA), SunGard, private equity firm AlpInvest, and PwC.