Portfolio management technology developer Indus Valley Partners has launched a private equity deal management platform with analytics, due diligence and data collection capabilities.
IVP for Private Equity can be used to manage tasks throughout the deal lifecycle, from capital raising, portfolio performance monitoring and allocations to payment waterfalls.
It integrates front, middle and back office tasks, and produces audit trails that can be used for investor and regulatory reporting.
The platform is one of several to have been launched recently. Analytics provider eVestment launched a private equity platform for data collection and reporting in November, while Exchangelodge, through which general partners can analyze their fund performance data, came to market in 2015.
However, it is widely accepted the private funds sector has been slow to adapt to technological advancement.
Speaking at a conference in London in November, Tim Andrews, director of automated due diligence platform the ID Register, said many firms were still conducting reporting “as if it was 1985.”
“It’s bizarre that in 2016 we face the problem of data being stored in different places, and in different jurisdictions, that just doesn’t talk to each other,” he said.
Eamon Devlin, partner at London-based law firm MJ Hudson, shared this sentiment.
“The rate of IT and technology development within alt assets has been appalling to-date but 2017 could be the year we see some progression. The launch of the ID Register [in 2016] is a good example of IT innovation in the sector but we need more,” he told pfm.