GPs demand data on the go

Private fund managers are increasingly demanding mobile access to their fund data, according to industry sources. 

In response to market demand Gen II Fund Services recently unveiled its latest dashboard with iPad functionality. “It’s everything that you could have got on your computer; now you can get it wherever you are,” said managing principal Steven Millner. 

The service allows GPs to monitor capital drawdowns and distributions, remaining capital commitments, the health of portfolio companies and other metrics.

Lyceum Capital managing partner Jeremy Hands told PE Manager his firm has incorporated iPads into meetings and wants to use the tablet as part of an updated CRM system. “I think it will be something that will enable us really to manage our deal flow and LP relationships much more interactively.”

Other fund service providers agree remote monitoring tools for the industry is a growing market and something GPs are increasingly asking for. One fund administration provider described their use as becoming more relevant in GP management, especially with the iPad as a “vogue toy”.
 
Senior manager at Vistra Jersey, Richard Hughes, said his firm’s online portal is compatible with the iPad but that the creation of a bespoke app for GPs was still sometime away. 

A separate fund administration provider said his firm was developing software tools that would allow GPs to remotely share quarterly and annual reports with investors.