News & Analysis

Carlyle and CVC join AltExchange Alliance influx

PE Manager tracks third party service providers: Carlyle and CVC become the latest GPs to endorse a new data reporting standard; Citi prepares to be a AIFMD depositary throughout Europe; and more

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• AltExchange Alliance, a not-for-profit consortium of GPs, LPs and service providers looking to standardize data reporting formats, has added The Carlyle Group and CVC Capital Partners to its ranks.
 
Aberdeen SVG Private Equity, Apollo Global Management, Encore Funds, Franklin Park, Lupton Company, Partners Group and Pine Brook Partners have also joined the alliance, whose founding members include Kohlberg Kravis Roberts, HarbourVest Partners and Coller Capital. The group, which is trying to produce a uniform format for private equity players to send and receive data, has now grown by 50 percent since its inception in May.

• Citi has launched depositary services capable of meeting the Alternative Investment Fund Managers Directive (AIFMD) across 12 European jurisdictions, including Ireland, Luxembourg, Netherlands, Sweden and the UK. Under the AIFMD, fund managers must appoint a depositary for the safekeeping of funds' financial assets, monitoring cash flows and ensuring a GP complies with its own governing documents. 

• iLevel Solutions, the cloud-based software provider, has released iLevel 6.0. The update allows private equity firms to track portfolio, fund, asset and segment exposure and performance. iLevel also updated its web portal, adding new iGetAggregate and iGetIRR functions that can aggregate cash transactions and calculate IRRs respectively.

• KPMG has bolstered its real estate advisory team with the appointment of James Wakelin. Based in London, Wakelin will work with KPMG’s team on transaction structuring to investors, fund managers, developers and occupiers. Wakelin previously worked as a director at Pacific Real Estate Capital Partners and UBS Investment Bank.

• Nina Tannenbaum has joined investment management firm AllianceBernstein as managing director of its alternatives sales and client services. Tannenbaum joins AllianceBernstein from asset management firm Napier Park, where she was director of marketing and product management. 

• Deutsche Bank has hired Phumchai Kambhato as head of its Thailand corporate banking, securities and corporate finance business. He previously was head of Thailand investment banking for UBS.

• Recruitment firm Pinstripe acquired UK-based recruitment rivals Ochre House, according to a statement from the firm.

• Recruitment company Private Equity Headhunters has appointed Jaree Zafar as chief technology officer. Zafar previously worked as an adviser and consultant with the company's IT department and executive team.

• Trust, corporate and fund administration services provider, First Names Group, has completed its acquisition of fiduciary services business The Basel Group. The transaction will expand First Names' service offering in Jersey and Switzerland.

• FrontLine Compliance, a regulatory compliance consulting firm, will open its new office headquarters in Rockville, Maryland on 1 August. The firm will continue to operate in the Washington, DC metropolitan area.