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PE embraces alternative data

Alternative data has been commonplace in hedge funds for 15 years, but private equity firms are now upping their use of this information flow.

Allvue opens Singapore office

Edward Bee joined Allvue as region head for APAC and will head up the new office

Procensus extends to PE

The regulated platform aims to help investors understand market consensus on macro topics such as key ESG issues, market transactions (M&A and IPOs), stocks and stock specific events

Cobalt updates portfolio monitoring platform

Cobalt claims this is the industry’s first self-service portfolio monitoring solution

HWM acquires Koger

The deal has been backed by Lovell Minnick Partners, a financial services and tech-focused PE firm

Digital transformation still in early stages

According to RFA only 10% of firms have completed their digital transformations, while 34% are in the decision making stage

Domicile watch: April 2021

Key takeaways from the major PE domiciles: including JFSC's concerns in JPF service provision, Guernsey's updated PIF rules and Cyprus' growing funds industry

Guernsey updates PIF rules

The amended rules offer three routes to register PIFs in Guernsey

Accountability main focus for improving DE&I

ILPA Diversity in Action (DIA) signatories have set up cross-functional councils, committees or task forces

FundRock launches EU distribution service

The operation aim to support US, UK, Asia and other third country asset managers distributing funds across the EU.

Holland Mountain partners with Canoe

The partnership enables Holland Mountain’s newly-upgraded ATLAS data platform to connect with Canoe’s technology, for mutual clients

ACA enhances regulatory tech platform

The upgrades have been driven by the evolving risk from Covid-19, as well as the continually developing regulatory environment

MUFG IS partners with MJ Hudson on ESG reporting tool

The solution allows data to be collected in an automated way, with an overlay of ESG expertise from analysts, while being tailored to private markets

TMF Group buys Venture Back Office

VBO provides fund admin, investor services, as well as portfolio management solutions to PE, real assets, credit and emerging manager funds

Sanne acquires STRAIT

STRAIT provides fund administration, financial oversight and regulatory compliance services for PE, FoF, SPVs, family offices, hedge funds and other investment vehicles

Holland Mountain upgrades data platform

ATLAS aggregates data from any source and provides business users and senior executives with centralised access to real-time data

Hark Capital raises $400m for NAV fund

Hark III’s initial target was $300m

MUFG IS launches ESG reporting tool

The reporting tool initially uses RepRisk data and MUFG IS plans to add further data sources

Allvue partners with Got Your Back

The partnership provides fund accounting solutions for Got Your Back's alternative fund management clients

European GPs continue to outperform on ESG

New ratings from ASI’s 2020 ESG survey found the majority of European GPs scored highly

Sanne granted Irish depositary services licence

Sanne Depositary Services provides depositary services to collective investment schemes

Hermance launches digital investment platform

The platform connects HNWs and institutional investors with private markets funds via low minimum ticket sizes

Jersey PE and VC funds grow by 21%

JFSC figures also showed the number of registered Jersey Private Funds reach 403, an increase of more than 100 during 2020

Domicile watch: March 2021

Key takeaways from the major PE domiciles: including Jersey's changes to its AML/CFT handbooks, Guernsey's review of its Green Fund accreditation and Ireland's Green Team network launch

Valutico explores ESG valuations

Valutico has received a €200,000 innovation grant from the Vienna Business Agency to support the project

Advent achieves top rank D&I score

The firm is closely followed by EQT (65%) as well as TowerBrook Capital Partners and Investcorp (both 63%)

InCloudCounsel launches Insight

Insight aims to allow fund managers to manage LP obligations to across all funds in one centralised platform

Mainspring partners with Aspida Group

The partnership aims to service Guernsey-domiciled private equity and venture capital funds

IQ-EQ selects Allvue for private debt & credit

The debt desk will employ FIS software for accounting and transfer agency services, DX as the 24/7 online client portal, as well as IQ-EQ’s proprietary reporting system, IQ-EQ Cosmos

Moonfare partners with Fidelity International

The partnership aims to provide institutional and wholesale clients with access to private market strategies

Allvue updates performance & portfolio monitoring solution

The platform provides an overview of accurate investment performance down to asset level

SFDR comes into effect

SFDR imposes new transparency obligations and periodic reporting requirements on financial market participants

Auxadi appoints five

Inflexion-backed Auxadi provides corporate services to private equity and real estate firms

Palatine invests in Anthesis

The fresh capital will support Anthesis’ growth plans, both organic and acquisitive, as well as accelerating its digitalisation

Long Ridge backs Drawbridge

Cyber security provider Drawbridge currently counts 300 alternative asset manager clients

Former Apex trio launch Oakbridge Funds

The independent fund administrator is majority owned by investment firm ED Group

GCV launches new end-to-end SaaS

Quva was developed by GCV’s venture builder division G-Labs

Crestbridge opens Dublin office

The firm is currently authorised to provide corporate services in Ireland and is aiming to provide fund admin services soon

And the winner is…

Entrants to The Drawdown's Awards were asked to demonstrate business growth, innovation and client satisfaction. While the winners were rewarded based on these metrics, what's clear from speaking to all of the successful groups is they all shared three additional commonalities

TiG acquires ThirdSpace

The deal was backed by BGF, with financing provided by Santander’s Growth Capital team.

Ocorian purchases Platinum Compliance

Deal follows the fund administrator's acquisition of Newgate Compliance in December 2020

Consero buys BridgeView CFO Solutions

The deal expands Consero’s suite of solutions to include HR and payroll services for its existing client base

IQ-EQ targets fund services in Ireland

The firm received fund administrator authorisation from the Central Bank of Ireland in December

Hawksford receives investment from STAR

The fresh capital will be used to support Hawksford’s acquisitive growth strategy

ESAs publish statement on application of SFDR

The objective is to “achieve an effective and consistent application and national supervision of the SFDR, promoting a level playing field and the protection of investors"

InCloudCounsel opens Singapore office

The firm has hired Jon Crandall as managing director for APAC to lead the office

PE and private debt behind on adopting tech

Broadridge's latest report found only 9% of PE and private debt respondents identified as leaders when it came to using AI, blockchain, the cloud and digital

LP location most important factor in fund structure selection

Alternatives Watch’s 2021 Fund Formation Survey found 20% of respondents cited regulatory regime as another important consideration for dictating the type of fund launched

Standish partners with Redwood Valuation

The partnership enables Redwood to offer Standish clients a wide array of valuation services in a streamlined, high quality and cost effective manner

LPs push for DE&I in private markets portfolios

According to Mercer, LPs want DE&I manager programmes implemented and an expansion of DD frameworks to include diversity metrics

PE and VC funds reached $325.9bn in Jersey in 2020

Monterey's latest report found more than 120 new Jersey funds were launched during 2020 collectively totalling $14.5bn

AIFs and UCITS totalled €174bn in December

EFAMA's latest report found AIFs and UCITs net sales totalled €174bn in December, a significant increase from €78bn in November

BWAM launches leadership accelerator course

The six-month programme aims to fast track the careers of mid-to-senior level black female professionals

Domicile watch: February 2021

Key takeaways from the major PE domiciles: including Jersey's recommendations to adapt its framework, Guernsey's latest guidance on cyber security and countering financial crime and terrorist financing, as well as Luxembourg's response to OpenLux

Cost of compliance: 5% of revenue

According to Duff & Phelps latest survey, 23.5% of senior decision-makers of financial services firms expect to spend between 1%-5% of 2021 revenue on regs compliance

iCapital and CAIA Association launch AltsEdge

AltsEdge is an education system which aims to help financial advisors understand alts investment strategies

Cost of meeting LP data demands: $5.5bn

Intertrust's latest report found 64% of CFOs expect LPs to want daily/live updates on ESG, while 50% expect them to require frequent updates on operational service level agreements

Luxembourg Government and ALFI respond to OpenLux investigations

Statements defend the Grand Duchy’s regulatory standards following the OpenLux investigations, which claimed Luxembourg uses flawed AML frameworks

JTC acquires INDOS

INDOS provides depository, ESG and AML oversight services to the alternative funds sector

BVCA publishes D&I guidelines

The guidance aims to help increase investment in under-represented founders and drive diversity and returns across PE and VC