Sunday, 3 May 2015
Last updated 2 days ago
May 1 2013 | 8:55am ET
A new private equity industry group aims to standardize the way firms present their data.
The AltExchange Alliance—founding members of which include industry players like Kohlberg Kravis Roberts, Neuberger Berman and Capital Dynamics—has introduced what it's billing as the p.e. industry's first comprehensive standard for data formats.
“The problem the industry has been facing for years is the ability to effectively process ever increasing volumes of data,” commented Johnny Randel, CFO of StepStone and AltExchange founding member. “Firms have been spending considerable time and resources manually re-keying and reconciling information and less time analyzing data. Having the transfer of data automated and having agreed upon industry-defined data standards will help address this significant inefficiency.
The data standard uses tailored XML taxonomies and covers portfolio company financials, investor organizations and contacts, fund information, cash flows, capital accounts and more. The AltExchange also offers a validation platform, which certifies data prior to distribution.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…