AltExchange Alliance Aims To Standardize PE Data

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.

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