AltExchange Alliance says membership up 50% in two months
The AltExchange Alliance, an industry group launched for the global private equity induustry in May says its membership has grown by half again over the past two months.
AltExchange says the new members include: Aberdeen SVG Private Equity, Apollo Global Management, The Carlyle Group, CVC Capital Partners, Encore Funds, Franklin Park, LLC; Lupton Company, LLC; Partners Group AG, and Pine Brook Partners.
The objectives of the group include developing and enforcing investment data standards, which include guidelines from ILPA and IPEV, aligning the interests of private equity sector players such as LPs, GPs, advisers, consultants and vendors, it said.
Members have the opportunity to feed into the development of standards, AltExchange added.
Thomas Mayrhofer, chief financial officer of Corporate Private Equity at The Carlyle Group, said: “The opportunity to help finalize the AltExchange Standard was an important reason for joining now. As investors’ needs increase, this initiative will enable us to have a common data format that saves time and resources for both GPs and LPs, while providing more useful data to our Limited Partners.”
Nick Archer of CVC said: “We believe a collaborative approach between GPs and LPs to define, agree and adopt an industry standard single format which all investors, large or small, can use to feed their own in house reports is the way forward.”
And Raymond Schnidrig, chief technology officer of Partners Group, a GP member of the alliance focusing on middle market direct investments across private markets, said: “We are convinced that this important initiative has the potential to significantly impact private markets from an operational perspective over the coming years. It will allow our firm to interact with our institutional client base in an easy and transparent manner while fully respecting the confidential nature of Partners Group’s investments on behalf of its clients.”
For the latest list of members please see www.AltExchange.com.