|By Business Wire||
|May 14, 2014 09:10 AM EDT||
iLEVEL, the cloud-based software provider to the private capital market, today announced the immediate and general availability of iLEVEL v6.6 with new features that extend iLEVEL’s lead in the fast-growing portfolio monitoring market. Additionally, iLEVEL is pleased to announce that BC Partners, a leading European private equity firm with advised funds of $17.5 billion, has selected iLEVEL to track its investment portfolio. iLEVEL’s client list is larger than the combined lists of all its competitors.
Jerome Losson, Partner at BC Partners on selecting iLEVEL:
"In the context of optimizing our portfolio monitoring tools and processes, we compared iLEVEL to other solutions available on the market. We felt that the functionality it offered was best-in-class, and were able to talk to iLEVEL clients satisfied with deployment and support services. On this basis, the choice was clear and we look forward to working with the iLEVEL team."
New and enhanced features of iLEVEL help Fund Managers:
- Further streamline the collection of data across their portfolio into a central database that acts as their single source of truth. Improvements to the cloud-based iLEVEL platform include advancements to the relational database design to accommodate highly complex ownership structures across funds and funds of funds as well as enhanced features to automate data collection for GPs that collect on behalf of their portfolio companies or send iLEVEL-enabled Excel templates to their portfolio company CFOs.
- Analyze portfolio performance, connect portfolio company data to their valuation process, and report to Limited Partners using new portfolio analytics from iLEVEL. The iLEVEL iGet ArrayTM function now empowers fund managers with one-click screening of their entire portfolio. For example, a GP can return all investments that are tracking above/below forecast or are close to tripping any debt covenant. iLEVEL 6.6 also provides additional security features for real-time reporting on your iPad and with these features, one of the 3 largest Private Equity firms has gone live on iLEVEL mobile for its investment professionals and senior management.
“iLEVEL 6.6 is the ninth straight release that has been on-time and delivered at no extra license cost to our clients. Also, unlike other software products in the private capital market, iLEVEL upgrades don’t require any services fees,” said Rick Kushel, CEO of iLEVEL.
“The features in this upgrade were requested by our clients in buyout, real estate, infrastructure, lending and our limited partner and fund of fund clients,” Kushel continued. “Other systems that were designed as partnership accounting work from the fund performance backwards whereas iLEVEL builds fund performance from the ground up, beginning with the raw data collected from portfolios, derived calculations and valuations. All of this is auditable in a system designed to audit data collection workflow."
“iLEVEL Mobile is the most powerful and most secure iPad-based reporting tool in our market and after a lengthy security diligence process, it’s a big milestone to see a top 3 firm roll it out to their staff that travels the world to meet with investors and management teams. Their portfolio performance will be securely available wherever they travel and will not fall into the wrong hands should they misplace their iPad,” said Lokesh Seth, CTO of iLEVEL.
In addition to a growing client base of fund managers, iLEVEL also supports the needs of institutional investors who need to monitor investment performance, track capital calls and distributions and calculate their own IRRs. Hamilton Lane, a leading global private equity asset management firm, has been testing iLEVEL as a replacement for its current reporting platform for LP clients and will use iLEVEL to monitor investments in over 2,300 funds including positions in 55,000 assets and over 650,000 cash transaction notices.
Matt Herzog, Vice President at Hamilton Lane on iLEVEL 6.6:
“The iLEVEL team listens to its clients and builds the features we need to deliver a great Reporting & Analytics experience for our clients and investors. With iLEVEL 6.6, we now have a system that gives us the flexibility necessary to continue providing exceptional services to our clients in an evolving data environment.”
iLEVEL offers a market-leading cloud-based Private Capital Data Platform that empowers fund managers and investors to control information and gain actionable insights by taking data collection, investment analysis and performance reporting to a whole new level. Investors in iLEVEL include Blackstone (NYSE: BX), The Carlyle Group (NASDAQ: CG), Duff & Phelps, Hamilton Lane, Swift River Investments, and Egis Capital Partners.
For more information, visit www.ilevelsolutions.com.