NEW YORK /PRNewswire/ -- Ipreo, a global
leader of data, market intelligence and productivity solutions to
capital markets and corporate professionals, today announced the
acquisition of iLEVEL, a leading portfolio monitoring, analytics
and transparency platform for global private capital
markets. iLEVEL will be merged with Ipreo's Alternative Assets
group to form a new Private Capital Markets division within
Ipreo.
The
newly formed Private Capital Markets division will be dedicated to
driving new levels of data flexibility, quality, control and
efficiency, while enabling private market participants to generate
deeper insights, create more value, demonstrate performance and –
ultimately – increase allocations. In the immediate term, the new
division's suite of solutions will include the iLEVEL platform,
CapControls, QVAL and ClearMomentum, with plans to integrate data
and technology into a comprehensive and cutting-edge platform.
"We
have long seen a need for greater transparency in the alternative
assets space. The acquisition and integration of a company of
iLEVEL's caliber is a clear demonstration of our commitment to
deliver high-quality, innovative solutions to the private capital
markets," said Kevin Marcus, President and COO of Ipreo. "Ipreo will
provide a combination of platforms, content and expertise,
empowering us to bring unique solutions to market."
"As a
leader in providing world-class data solutions for the private
markets, we are excited to become part of Ipreo and to further grow
the company's participation in this asset class,"
said Kevin Black, CEO of iLEVEL. "Ipreo has deep expertise in
capital-raising solutions, global scale and a strong leadership
team. The merger of these solutions will bring long-term
benefits to iLEVEL and all Ipreo Private Capital Markets clients
across multiple work streams through a single integrated
platform."
Erik Hirsch, chief investment officer of Hamilton
Lane and a member of the iLEVEL board of directors added, "iLEVEL
has been at the forefront of linking GPs and LPs through greater
communication, improved connectivity and enhanced data
transparency. We view this strategic alliance as the next positive
step in furthering those initiatives and believe the new Private
Capital Markets division will greatly benefit from iLEVEL's
sophisticated technology, scaled commercial infrastructure and
strong client presence in the private markets."
Hamilton Lane as well as Duff & Phelps - a leading global
valuation and corporate finance advisor - have agreed to roll
significant portions of their iLEVEL ownership into an investment
stake in Ipreo. Beyond this vested interest, both Hamilton Lane and
Duff & Phelps will remain closely aligned with Ipreo's Private
Capital Markets division as critical strategic partners.
Ipreo
is a leading provider of primary new-issuance solutions and
investor data to all participants in the global capital markets,
enabling clients to execute deals more efficiently. Ipreo was
acquired in August 2014 by private equity funds managed by
Blackstone and Goldman Sachs Merchant Banking Division, and shortly
thereafter expanded into the Alternative Assets space with the
acquisitions of Shareholder InSite and ClearMomentum.
Originated from within the Blackstone Group in 2006 and spun off as
an independent entity in 2010, iLEVEL has changed the way the
industry manages, communicates and delivers private capital data.
The iLEVEL platform streamlines data collection, analysis and
reporting, allowing private capital firms, their LPs and service
providers to manage the overall data flow across their respective
asset classes. Today, iLEVEL is a leader in private market
portfolio management solutions, and counts many of the world's top
private capital firms, fund managers and institutional investors as
its clients.
The
Ipreo Private Capital Markets Division will be led
by Kevin Black, current CEO of iLEVEL. Black is a proven
leader in the financial data and analytics space and has
successfully led and scaled some of the largest and most successful
products and teams in the industry. His deep experience
includes serving as an early member of the Capital IQ executive
team where he built their global operations and helped drive growth
from start-up stage to over 4,000 clients and $400mm in
revenue. Prior to that he served as President of Nelson
Information, and - following its sale to Thomson Financial - led
Thomson's global data product management and operations.
Macquarie Capital is acting as financial advisor to Ipreo,
and Locke Lord LLP is acting as Ipreo's legal counsel in
respect to the transaction. Barclays Bank PLC is acting as
financial advisor to iLEVEL Solutions Holdings LLC,
and Goodwin Procter LLP is acting as iLEVEL's legal
counsel in respect to the transaction. Financial details of the
transaction were not disclosed.
About Ipreo
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. Our unique, cross-asset class solutions equip
our clients with the information and tools they need for more
effective decision-making and more efficient workflow. Ipreo is the
only financial services provider to offer solutions across all
asset classes for the Equity, Fixed Income, Municipal, Syndicated
Loans, and Alternative Assets markets. Ipreo is private-equity held
by Blackstone and Goldman Sachs Merchant Banking Division, and has
more than 800 employees supporting clients in every major financial
center around the world. For more information, please go
to www.ipreo.com.
About iLEVEL
iLEVEL
enables increased allocation of capital to alternatives by
empowering private capital market participants to more effectively
control their data. Whether it is for portfolio assessment,
valuations, investor reporting, on-demand insight into the
operating metrics of a specific asset, or cash transaction
monitoring, iLEVEL is the platform of choice for the private
capital industry. The number of firms on iLEVEL has
doubled in the past year and includes alternative investment firms
of varying sizes that employ a wide range of investment strategies
including Private Equity, Real Estate, Credit and Venture
Capital. GP clients use iLEVEL to track over 11,500 assets
while leading LPs track over 62,000 assets across more than 7,000
fund investments. In aggregate, iLEVEL users track over 1
billion data points across their investment portfolios.
Visit www.ilevelsolutions.com.