NEW YORK, New York (May 1, 2012) – Pátria Investimentos, one of Brazil’s largest alternative investment management and corporate advisory firms, has selected iLevel to provide portfolio monitoring and reporting software solutions. iLevel will help the firm to automate portfolio company data collection, improve efficiencies, and achieve integrated, real-time access to all of its investment data.

iLevel will provide Pátria with an end-to-end solution for collecting, analyzing, and reporting on investment data, which will be leveraged across numerous departments, including Investor Relations, Deal Teams, and Operations. Pátria’s investment portfolio is one of the most diversified in Brazil, and includes private equity, real estate, and infrastructure. iLevel was selected as a result of its ability to support any alternative asset class, and its deep integration with Microsoft Excel, which allows users from all departments to easily access key data in an environment that will not disrupt day-to-day workflow.

“iLevel will help us to streamline internal workflows, like data collection and valuation, by eliminating manual and redundant re-keying of investment data,” said Marcelo Nogueira, Chief Financial Officer of Pátria. Nogueira continued, “Perhaps more importantly, though, having all of our investment data in a single, centralized repository gives us better control of our information, and enables managers to quickly and easily analyze it. Having on-demand access to all of our vital data assets gives us the power to manage risk more effectively and take advantage of opportunities within our portfolio.”

iLevel enables users to retrieve investment data for Excel analysis via intuitive, straightforward formulas. Alternatively, users can take advantage of iLevel’s robust web-based business intelligence portal. Advanced configuration options incorporate “smart views,” which provide flexible data grids that can be customized to each user’s preferences for a personalized view of portfolio or investment data.

“We are very pleased about the opportunity to work with Pátria Investimentos,” said Rick Kushel, CEO of iLevel Solutions. “We believe that iLevel’s streamlined solutions for efficient, on-demand access to investment data will provide Pátria with a first-mover advantage in the rapidly growing Brazilian market. Real-time access to data means that our clients can turn their investment information into operational intelligence – and drive performance and returns.”

About Pátria Investimentos
Pátria Investimentos has been active for the last 24 years and is one of the largest Brazilian alternative investment management and corporate advisory firms in Brazil. It is a pioneer in the private equity industry in this country, having gradually expanded its portfolio with the development of new business like infrastructure, real estate and capital management. Currently, the Company manages over US $6 billion in assets under management. It is a local partner of Blackstone, the global leader in alternative investment management and corporate consulting. Additional information available at: www.patriainvestimentos.com.br.

About iLevel Solutions
iLevel Solutions’ Portfolio Management Platform is an innovative, secure Software-as-a-Service technology solution that automates the collection, storage, analysis, and reporting of portfolio data. iLevel provides a seamless platform that integrates all information for GPs and LPs to monitor investments, prepare and report valuations, and exchange information. This comprehensive, end-to-end platform includes components for Private Equity, Venture Capital, Real Estate, Debt, and LP Reporting. Investors in iLevel Solutions include Blackstone (NYSE: BX), The Carlyle Group, Duff & Phelps (NYSE: DUF), Swift River Investments, and Egis Capital Partners. For more information, please visit www.ilevelsolutions.com.

Pátria Investimentos Selects iLevel to Provide Portfolio Monitoring and Reporting Software

Whether or not you view the ILPA Principles as acceptable “Best Practices” standards, both GPs and LPs alike now have a set of guidelines established by the International Private Equity and Venture Capital Valuation Board to contrast and compare against the ILPA Principles.  Apparently, ILPA had received so many inquiries about the IPEV Guidelines release that ILPA issued a breakdown of the similarities and differences.

Check out the actual release here: http://bit.ly/JwwM5l

From my experience, two organizations trying to create strategic industry focus is great for the industry. Each and every GP and LP can review the different vantage points and choose how they follow any or all of the guidelines.  I’ve seen, literally, tens of thousands of GP financial reports dating back to the 1980s and there is a tremendously wide spectrum of what has/is being reported as well as the structure and format.

Industry players on both sides now have a better idea of the ultimate goals these guidelines, principles, and/or best practices have been set out to improve. (Read last month’s blog on what regulation is coming to PE)

These Billion Dollar fund managers and investors are preparing themselves (either consciously or subconsciously) for sharing their data electronically.  It’s a matter of time, organization, and momentum; we are seeing (you are reading) the inevitable so stay in front of the curve.

Posted by:  Justin Marchi

ILPA Clears Up Comparison to IPEV Guidelines: Right, Wrong, Different, Alike

However, that was then. This is now. Current regulatory proposals and (according to a recent survey released by Corgentum Consulting) Limited Partner sentiment have the potential to change the way the alternative asset management community conducts business both domestically and internationally. It seems that the time for private equity regulatory scrutiny is drawing closer.

Corgentum Consulting’s survey of over 150 Limited Partners indicated that investors intend to spend more time assessing operational risk within private equity groups over the next year, specifically within traditionally “back office” functional areas, including compliance, risk management, and finance. Most investors (34 percent) outlined explicit concern around valuation practices, followed closely by 22 percent of respondents citing compliance and corporate governance issues as a major concern.

Having addressed concerns within public equity markets and other areas of the financial markets, regulators and investors are looking for new targets, and tighter regulation of private equity may well be on the horizon. PE firms need to keep a close eye on these developments. If compliance and valuation become subject to greater regulatory oversight, firms need to be prepared with a “plan of action” for developing streamlined, repeatable, systematic valuation processes and tighter controls over internal workflow and record keeping.

Posted by: Ashley Larson

LPs Increase Operational Due Diligence Requirements

iLevel Releases v5.0

May 22, 2012 (New York)

The Private Equity Software and Service Provider Showcases are held annually in London and New York and are the leading events for private equity professionals to meet suppliers and assess their products and services. The Showcases include exhibition booths, presentations, test drive facilities and unparalleled networking opportunities. Whether you are actively looking for a new supplier to improve your operations, or just monitoring developments and best practice in the market place, PESS 2012 is the leading event to bring the buy-side and the supply-side together.  The event is designed for senior decision makers within private equity GP and LP organizations, including: Senior Executives, Investor Relations, COO/CFOs, FDs, Portfolio Analysts, IT Directors and their appointed representatives. For more information about the 2012 PESS NY event, visit www.pessnet.com/newyork

PESS NY 2012 – The Private Equity Software and Service Provider Showcase

PEI’s seventh annual Investor Relations & Communications Forum will help private equity and venture capital firms address the increasing challenges facing investor relations, marketing, and communications professionals. The industry’s leading experts will share key insights on how firms can effectively deal with the press, manage informational demands from LPs, benchmark strategies on the recent trend towards co-investing, and demonstrate operational value add to their LPs.   This unique event consistently brings together the industry’s largest gathering of private equity investor relations, marketing, and communication professionals for peer-to-peer networking and an in depth analysis of the most pressing issues facing the community.  For more information on the 2012 PEI Investor Relations & Communications Forum, visit www.peimedia.com/IRNY12

PEI NY 2012 – Investor Relations & Communications Forum

PESS London 20112– The Private Equity Software and Service Provider Showcase

June 21, 2012 (London)

The Private Equity Software and Service Provider Showcases are held annually in London and New York and are the leading events for private equity professionals to meet the suppliers and assess their products and services. The Showcases include exhibition booths, presentations, test drive facilities and unparalleled networking opportunities. Whether you are actively looking for a new supplier to improve your operations, or just monitoring developments and best practice in the market place, PESS 2012 is the leading event to bring the buy-side and the supply-side together.  The event is designed for senior decision makers within private equity GP and LP organizations, including: Senior Executives, Investor Relations, COO/CFOs, FDs, Portfolio Analysts, IT Directors and their appointed representatives. For more information about the 2012 PESS London event, visit www.pessnet.com/london

PESS London 2012 – The Private Equity Software and Service Provider Showcase

One major theme prevails:  Conflicts of Interest within Private Equity

In order to prepare for the microscope that is coming to your firm, you must be able to address the following investor concerns:

1. Consistent, documented valuation methodologies are used across investments and funds
2. Preferential treatment given to selected Limited Partners is fairly disclosed
3. Funds are raised to execute on a defined strategy, not to generate management fees
4. All funds have equal opportunity to invest in relevant investments
5. Transparent, accurate fund performance is provided to investors in a timely manner
6. Portfolio company fees are fairly disclosed
7. Full disclosure of holding period and exit strategy for older vintage funds

Can your firm effectively provide the details to address questions such as the above?

If so, will your costs increase in order to do so and how will your workflow change?

 “An ounce of prevention is worth a pound of cure.” — Benjamin Franklin

Posted by: Justin Marchi

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Scrutiny is Coming to Private Equity: Be Prepared!

Using figures from Bain & Company’s 2012 private equity report, there is roughly $1 trillion in dry powder throughout the Private Equity industry with nearly half of that amount idling within Buyout firms.  The rest remains scattered in other strategies.

What does this mean?

• It’s a seller’s environment
• LPs are thirsty for distributions from their earlier capital commitments
• The fundraising environment is difficult to navigate for most GPs— prior relationships will be key for those GPs that have made the effort
• The industry goal of raising 2.8 times that of 2011 is unlikely

Other facts of the report:

• More than 60% of fund capital is invested in investments with less than stellar multiples (<1.5x)
• GP carried interest will be non-existent if this remains

Translation:

The GPs must differentiate themselves from their competition by having tighter controls and monitoring capabilities at the: Portfolio Level, Fund Level, and investment Level.  Tracking KPIs must be as dynamic as possible.  Valuations must be as accurate and auditable.  There is such a tight spread between being successful and unsuccessful this year that GPs must find a way to leverage their assets, cut unnecessary expenditures, and develop better rapport with their LPs of the past as well as prospective investors going forward.

Now, let’s see how fast these fish can swim…

Posted by: Justin Marchi

Too Many Fish and Not Enough Bait in the Private Equity Pond

The Private Equity industry has been buzzing about solidifying a reporting standard that mutually benefits GPs and LPs. Much of this buzz began with the introduction of ILPA’s principles, which were originally intended as guidelines for bridging the data and communication gap among Private Equity counterparties.

PEI Media recently published an article providing an overview of the “search” currently underway to find the best combination of structure, content, and flexibility.

Earlier this month, I depicted the events surrounding the TRS and Apollo/KKR commitment agreements.  In this post, I outlined how full-ILPA compliance was used in the agreements.  However, the aftermath shined light on only ‘certain’ ILPA guidelines being observed.  I introduced the notion if the GP/LP relationship is truly bespoke and, today, I’m inserting this statement, again, in regards to the standardization of reporting.

The Black & White

LPs have certain expectations relative to the content and format of the reports they receive from Private Equity firms.  In exchange for their financial commitment (often in the tens of millions of dollars), LPs expect timeliness, auditability, and transparency in the reports they receive each quarter.  In order to make performance comparisons among their portfolio of investments, many LPs are moving to a standardized quarterly report format.  The real kicker, though, is that even though LPs have the ability to demand certain information in report format, they also want the ability to pick up the phone and have a conversation with their GPs about any questions they may have on an ad-hoc basis.

On the other hand, the job of a GP is, ultimately, to improve the performance of the portfolio companies it holds in order to drive returns.  Daily workflow for GPs may include a myriad of other administrative tasks that, while important, can detract from its core mission.  Responding to ad-hoc LP requests, investment valuations, and other tasks can be time consuming and distracting if not managed in a systematic, organized, repeatable manner.

The Grey

A LP needs to allocate a portion of its investments to private equity in order to manage the portfolio towards an optimal rate of return needed to meet future obligations.  In order to do so, LPs commit capital to GPs of various sizes and strategies.  Regardless of the differences in GP investments, LPs must receive similar financial reporting from each in order for its team to process and analyze the data, and provide reporting to the LPs constituents.

Meanwhile, GPs want to focus on their “bread and butter” of investing, minimize operational costs, and provide quarterly reporting to its suite of LP investors (Pension Funds, Endowments, Family Offices, FoFs, etc.).  By streamlining the process of compiling basic performance information into easily digestible quarterly reports, GPs can focus on having high-level, strategic conversations with each of their LPs.  Ultimately, minimizing the time and resources spent on providing basic reporting gives GPs the ability to deepen their LP relationships and position themselves favorably in advance of their next fundraise.

From Issues to Resolutions

GPs have expressed that LP requests can be labor and time intensive; LPs have expressed that GPs have not made their reporting easy to interpret and navigate.

LPs pushed for all GPs that want their commitments to follow the ILPA principles; GPs have endorsed the principles, but have found some of the guidelines unrealistic because of timing, costs, or subjectivity of LP focus only.

As of this week (2/27/2012), CalPERS adopted a standardized reporting form for any General Partners to which it commits capital .  This form will be required as of 3/1/2012 for all GPs and FoFs managers.

With $235 Billion AUM, GPs will conform, right?

They should and here’s why:

The tedious process of preparing reports that cater specifically to an individual LP is not as labor, cost, or time intensive as it once was if the GP is leveraging the best, most flexible, cutting-edge software in existence today.  Utilizing the iLevel Solutions platform allows the GP to create any report or enhance any existing report in minutes rather than hours or days.  The report, form, or package only needs to be created once with the iLevel proprietary iGets.  The rest is business as usual.

From that point, the report can refresh data on a monthly, quarterly, semi-annually, or annual basis at any time.  There is no need for manual entry or reconfiguration.  This ensures the same values are used throughout the entire firm and if a LP contacts investor relations, the associates will be speaking about the same values and information used by the valuation team, deal team, fund accounting team, external auditors, and every departmental group that exists.

Thank You Very Much

CalPERS,

I applaud your action of putting a stake in the ground with a standardized form for all your managers because you have provided the best example of how my firm, iLevel Solutions, can assist the entire Private Equity industry with adapting to changes of today as well as those to come.

Posted by:  Justin Marchi, CAIA

The Give and Take of Standardized Reporting

A recent survey of UK-Based GPs indicated that a growing number of LPs are pressuring GPs to increase their personal commitment totals in their new funds.

The survey included managers from the lower and upper ends of the market, but does not attribute the results to a specific investor size. That said, the average size of personal investment (£200,000; $316,000) seems most in line with traditional personal investment amounts found in the lower to mid-market.

Given the current economic environment, many Partners are facing a personal liquidity crunch and may not have the required cash readily available. Many specialty finance shops, including Investec, have experienced significant increases in demand from GPs, who seek financing to meet personal commitment requirements.

But what is truly going on with this?

The real question is whether fund performance will increase proportionally with the increased personal investment – or if it will increase at all. In other words, if LPs demand a 10% increase in GP’s personal commitments to a fund, will this translate to a 10% increase in fund performance (as measured by IRRs and multiples)? If this is the case, then likely we’ll see GPs rushing to invest more in their own funds.
Conversely, what if GP’s increased “skin in the game” makes them more risk averse in devising and executing growth strategies at their portfolio companies, given that they have significant personal wealth at stake.

The most successful General Partners have demonstrated a clear core competency around driving growth and creating value through operational improvements and M&A. Will additional “skin in the game” detract from the GP’s core competency? Possibly.

If requiring GPs to have more skin in the game makes them more risk averse in their strategies, then LP demands for increased personal commitment may not be in the best interest of fund performance, economic growth, and LP portfolio returns. Clearly, there is a delicate balancing act between having “enough” skin in the game to align interests, versus “too much.” Are better aligned financial interest and increased performance mutually exclusive? Not necessarily.

Are GPs committing more of their personal money because they believe in the benefits of better aligned investment objectives — or is it merely a method of keeping their investors content?

Food for thought.

To be continued…

Posted by: Justin Marchi

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Should GPs Put More “Skin in the Game”? : Pleasing your LP versus Aligning your Mutual Interests

An interesting article was recently written about the Teacher Retirement System of Texas “TRS” and two top Private Equity firms, Apollo Global Management “APO” and Kohlberg Kravis Roberts & Co. “KKR”.

To summarize, there was an explicit statement made that the committed capital agreements made from TRS to APO and KKR were to be compliant with all ILPA Principles. However, once the agreements had been executed, TRS expressed only compliance with “certain” ILPA Principles were contained in the agreements.

So why the change?  Is it possible that the natural order of the Private Equity Industry-wide agreements is truly bespoke? Perhaps.

With ILPA representing the sentiment of the LPs, most of the top GPs have recognized and endorsed the ILPA principles, but there is little to support public knowledge after these deals have been executed. The transparency that the industry has requested is not present in the TRS example above.

My take on this is —Opportunity. There is tremendous opportunity in monitoring and tracking the rhetoric of the industry versus the facts of the industry—“if what is being said, is what is actually occurring.”

The days of “Do as I say, not as do” are long gone.

Posted by Justin Marchi

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Are GPs and LPs following the ILPA Principles in their Executed Agreements?

Historically, the SEC’s investigative reach was limited to firms that trade primarily in public securities, including mutual funds, hedge funds, and investment advisors.  As Private Equity becomes an increasingly mainstream asset class, SEC scrutiny grows – most recently around the industry’s methods of portfolio valuation.

As private equity firms have proliferated, state pension funds have begun funneling progressively more money into these investments.  According to Prequin, “large” Public Pension plans (defined as those firms with excess of $1bn in AUM) have an average allocation to Private Equity of 11.2% as of December 2011 – up 3.1% since 2001.  However, Public Pensions aren’t the only investors increasing their allocation to Private Equity.  The wave of Private Equity firms “going public” – including Blackstone, Carlyle, and others means that Private Equity can now directly impact “Main Street” investors.

Now that “Main Street” has a larger stake in the performance of Private Equity the industry is pressed for more transparency through the FOIA (Freedom of Information Act).  We are seeing a public outcry to ensure the policeman that patrols our streets, the fireman awaiting an alarm, and the teacher motivating our children all have security where their investment and retirement money is allocated.

The SEC has begun its initial ‘interviewing’ of Private Equity firms and their practice of valuing their investment holdings.  The questions provided to several PE firms requests information such as supporting evidence for the valuations of all fund assets and any document establishing an assigned value for any assets owned by the fund.  Here’s the kicker: For the past three years!

The Valuation process has traditionally been an art that is mastered by each PE firm in their own way.  In today’s world filled with Ponzi schemes and questionable ethical practices, the SEC wants to not only see the finished work of “ART”, but they also want to see the paint brushes used, the various hues of each color in the art, and if there has been a consistent use of artistic technique in valuations done across Private Equity funds.

Two questions clearly need to be answered:

1. How does a PE firm consistently and efficiently provide the information needed to justify its valuations to its internal and external constituents (SEC, Auditors, Valuation Firms), all while keeping costs low and data integrity high?
2. How does a PE firm accurately monitor the “true” numbers from the investment data collection process to the external distribution recipients while maintaining data integrity across all groups (Valuation, Finance, Investor Relations, Fund Accounting, etc.) within their firm?

The answer is simple:  iLevel Solutions

iLevel Solutions provides the flexibility to integrate any data point into any existing model or reporting package while providing the transparency required by the current stakeholders and potential stakeholders of their proprietary data.  By incorporating the iLevel platform, General Partners have the capability to provide an audit trail of its values in real-time, across standard and ad hoc forms, all while minimizing any disruption to its day-to-day workflow.

Justin Marchi Twitter: https://twitter.com/#!/JustinMarchi

Effectively & Painlessly Navigate SEC Regulatory Scrutiny

NEW YORK, New York (February 7, 2012) – iLevel Solutions named Jim Weber Chief Financial Officer and Member of the Executive Committee. Mr. Weber comes to iLevel from FalconStor Software (NASDAQ: FALC) where he was Chief Financial Officer and Vice President of Operations.

Weber will report to Chief Executive Officer Rick Kushel. As CFO, he will oversee iLevel’s finance, accounting, and administrative functions. In addition, Weber joins the Executive Committee, which directs the firm’s strategy, planning and operations.

“Jim is a great hire for us,” said Rick Kushel. “We quickly realized that Jim was the right person for iLevel. While he was FalconStor’s CFO, the company’s revenue grew by almost 18 times. Jim’s proven success in scaling the finance and operation division of a rapidly growing software company is critical for iLevel.”

“Upon meeting Rick and the team I was immediately impressed with everyone’s drive and enthusiasm. You could almost feel the collective energy behind developing the platform and growing the business,” noted Weber. “Rick is passionate about providing the Private Equity industry with more a more efficient and transparent means of portfolio company management. He’s built a world-class team that is delivering solid results for our clients and our business. I’m excited to be a part of this organization and this rapidly-changing industry.”

Weber joined FalconStor in 2001. He served as the firm’s Vice President of Operations and CFO from 2004 through January 2012, and as its Worldwide Corporate Controller from 2001 to 2004. Prior to joining FalconStor he was the Worldwide Corporate Controller of theglobe.com, a publicly traded social networking site. Previously, he was an Audit Manager at KPMG and had several years of public accounting experience.

About iLevel Solutions

iLevel Solutions’ Portfolio Management Platform is an innovative, highly secure Software-as-a-Service technology solution that automates the collection, storage, collaboration, analysis, and reporting of portfolio data. iLevel provides the seamless platform that integrates all information for GPs and LPs to monitor investments, prepare and report valuations, and exchange information. This comprehensive, end-to-end platform serves as the backbone to completely integrate reporting, analytical tools, and dynamic information sharing, and includes components for Private Equity, Real Estate, Debt, and LP Reporting. For more information, please visit www.ilevelsolutions.com.

iLevel Solutions Names Jim Weber as Chief Financial Officer

The Private Equity International CFOs and COOs Forum is the premier annual event for Private Equity Finance and Operating Professionals.  Now in its 9th year, this forum remains consistent with its founding principle: an annual meeting for those who deal with the operational, financial and legal challenges facing private equity firms today. This Forum consistently attracts an audience of over 250 CFOs and COOs from across the private equity and venture capital community. It is an opportunity for senior managers to share best practices and highlight thought leadership in the areas of private equity finance, operations, valuation, regulation, compliance, tax and many more increasingly critical functions within the firm.  For more information about the 2011 Private Equity International CFOs and COOs Forum, visit www.peimedia.com.

PEI CFOs and COOs Forum 2012

Women’s Alternative Investment Summit

New York, NY (November 29, 2011) – iLevel Solutions, a leading provider of private equity software and reporting solutions, today announced that The Carlyle Group and Duff & Phelps have selected iLevel’s Portfolio Management Platform. The Carlyle Group, a global alternative asset manager, has selected iLevel to help automate the collection, analysis and reporting of financial performance information. Duff & Phelps, a leading provider of financial advisory and investment banking services, has selected iLevel to enhance its technology valuation and analytics platform. In addition to these commercial relationships, iLevel also announced the closing of an additional round of funding led by Carlyle and Duff & Phelps to support the continued development of iLevel’s suite of software products focused on the Alternative
Investment Management and Valuation markets.  iLevel now boasts an investor base that includes The Blackstone Group (NYSE: BX), The Carlyle Group, Duff & Phelps & Swift River Investments.

The Carlyle Group, which invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Fund Solutions globally – sought a solution to facilitate timely, accurate data collection, and transparent reporting. Carlyle selected iLevel to provide a comprehensive technology platform to achieve greater visibility into their investments while providing greater transparency, speed, and frequency of reporting to their investors.

“iLevel’s combination of technology and expertise will enable Carlyle to provide greater levels of transparency and more timely reporting to our investors while providing us with a platform that supports the continued growth of our business,” said Adena Friedman, Chief Financial Officer of The Carlyle Group, who is joining iLevel’s Board of Directors. She added, “This will better enable us to demonstrate the
significant and positive impact our portfolio companies have on the economies in which we invest. In addition to being a client, we are excited to partner with iLevel and support their leadership team’s growth agenda.”

Duff and Phelps’ Alternative Asset Advisory segment specializes in the valuation of complex and illiquid investments.  The iLevel platform will enable Duff & Phelps to collect, analyze and report financial
data more efficiently from a growing number of private equity and hedge fund clients.  Duff & Phelps selected iLevel to provide a solution that will further differentiate its market-leading approach to estimating, monitoring and supporting fair value conclusions.

“iLevel’s technology will enhance Duff & Phelps’ ability to deliver higher quality valuation analytics to our clients, while also providing us with a platform for developing and delivering additional services,” stated Jacob Silverman of Duff & Phelps, who is also joining iLevel’s Board of Directors.  “As a client and an investor, we believe strongly that iLevel’s offerings are key to bringing greater transparency and consistency to the alternative asset marketplace.”

The iLevel platform was incubated within Blackstone and spun out as an independent company in June, 2010. Harry Moseley, Chief Information Officer of The Blackstone Group and iLevel Board Member, stated, “We are delighted that The Carlyle Group and Duff & Phelps will be taking advantage of iLevel’s best-in-class portfolio management platform to enhance information transparency and reporting.  As investors, both firms bring extensive industry-specific experience to iLevel and will play a key role in the future development of the company.”

Rick Kushel, CEO of iLevel Solutions, said, “Carlyle and Duff & Phelps join a growing number of firms that are looking to achieve new levels of transparency, visibility and accountability. In addition to having both firms as iLevel clients, we are extremely happy to have the support of these accomplished and highly respected firms to help drive the next phase of iLevel’s aggressive growth plans.”

About The Carlyle Group

The Carlyle Group is a global alternative asset manager with more than $153 billion of assets under management across 86 funds and 49 fund of fund vehicles as of June 30, 2011. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has developed expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,100 people in 34 offices across six continents. For more information please visit www.carlyle.com.

About Duff & Phelps

As a leading global provider of financial advisory and investment banking services, Duff & Phelps balances analytical skills, deep market insight and independence to help clients make sound decisions. The firm provides expertise in the areas of valuation, transactions, financial restructuring, alternative assets, disputes and taxation, with more than 1,200 employees serving clients from offices in North America, Europe and Asia. Investment banking services in the United States are provided by Duff & Phelps Securities, LLC. Member FINRA/SIPC. M&A Advisory services in the United Kingdom and Germany are provided by Duff & Phelps Securities Ltd. Duff & Phelps Securities Ltd. is authorized and regulated by the Financial Services Authority. Investment banking services in France are provided by Duff & Phelps SAS. For more information, visit www.duffandphelps.com. (NYSE: DUF)

About iLevel Solutions

iLevel Solutions’ Portfolio Management Platform is an innovative, highly secure Software-as-a-Service technology solution that automates the collection, storage, collaboration, analysis, and reporting of portfolio data.  iLevel provides the seamless platform that integrates all information for GPs and LPs to monitor investments, prepare and report valuations, and exchange information. This comprehensive, end-to-end platform serves as the backbone to completely integrate reporting, analytical tools, and dynamic information sharing, and includes components for Private Equity, Real Estate, Debt, and LP Reporting.  For more information, please visit www.ilevelsolutions.com.

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iLevel Solutions Announces Commercial and Strategic Relationships with The Carlyle Group and Duff & Phelps

Dow Jones Private Equity Analyst Conference

New York, NY (July 20, 2011) – iLevel Solutions, a leading provider of private equity software and reporting solutions, recently announced the latest version of the firm’s Portfolio Management Platform.  This highly anticipated release incorporates new features and functionality that dramatically enhance how the Alternative Investment industry collects, analyzes, reports, and exchanges investment information.

 “With the growing demand for greater transparency and the challenges of increasingly stringent regulatory requirements, iLevel is focused on continually enhancing the functionality of our Portfolio Management Platform,” stated Rick Kushel, CEO for iLevel Solutions.  “This new release incorporates industry best practices and expanded functionality as a result of direct feedback from a growing client base of the world’s leading private equity firms.”  A short video highlighting the new release is also available by clicking on the following link:  iLevel Video.

Highlights of the new release include:

Streamlined Valuation Process

iLevel’s dynamic, configurable valuation templates provide a consistent, streamlined valuation process.  Increase efficiency and accuracy of valuations using iLevel’s Excel Add-In to quickly populate and update your spreadsheet models with data stored in the iLevel database.  Conversely, leverage iLevel’s Add-In to store key valuation data from your valuation models in the centralized repository for future reporting purposes.

Robust Excel Add-In Functionality  

With iLevel’s unique Excel Add-In, users can take advantage of formula wizards, a powerful calculation engine, and iGet^TM and iPut^TM functionality to access data from – and publish data to – the iLevel database. Users can leverage the iLevel Excel Add-In to analyze portfolio company performance, model valuations and respond to investor inquiries, all in a fraction of the time it would normally take to do so manually.

Dynamic Data Collection Workflow Tools

The iLevel Platform streamlines the portfolio company data collection process by enabling GPs to create dynamic Excel-based templates that can be scheduled and distributed to portfolio companies or internal users for monthly and quarterly data collection. These data templates are integrated into a workflow process allowing data to be efficiently reviewed and approved prior to being accessed for analysis and reporting.

Sophisticated Data Calculation Engine

A proprietary calculation engine instantly calculates user-defined formulas and aggregates data based on a portfolio company’s fiscal calendar as well as a standard calendar allowing for real-time access.  Reporting periods are automatically aggregated to summary periods including Quarters, Calendar QTD, Fiscal QTD, Calendar YTD, Fiscal YTD and LTM.  In addition, user-defined formulas allow for calculations across periods (i.e. Revenue vs. Prior Year) and across scenarios (i.e. Actual vs. Budget). 

SaaS-based Portal Framework for Web-based Data Presentation & Reporting

A configurable Web portal enables users to visualize fund and portfolio company performance through a wide variety of graphical charts and interactive data grids. Users can filter data based on industry, geography, and funds to drill down into data sets to gain instant insight from any perspective.  The iLevel portal also supports the ability to export data from data grids, charts, and graphs directly to Excel for further analysis. In addition, iLevel’s Report Center acts as an access point for customized reports that can be easily exported to multiple formats including PDF and Excel.

New Document Library & Publishing Capabilities

iLevel provides an integrated, collaborative Document Library to manage and catalog documents and files associated with a specific investment, portfolio or fund. With the Document Library users can take advantage of document management features including full text search and retrieval, check-in/check-out functionality, version history, granular security provisioning, and document tagging for easy document retrieval. The iLevel Publishing Tool enables users to aggregate worksheets from numerous Excel Workbooks and instantly create portfolio-wide PDF reporting packages for print or electronic distribution.

Powerful Chart of Accounts Management & Administration

The iLevel Platform comes out-of-the-box with a standardized, best practices-based Chart of Accounts management tool for creating and managing portfolio-wide, industry-specific and portfolio company-specific metrics.  User friendly tools allow for straight forward maintenance of the chart of accounts as data collection and reporting needs change over time.  A powerful formula and calculation wizard is also available to define and modify calculations, build formulas to aggregate data and to compare metrics and establish ratios for reporting.

About iLevel Solutions

iLevel Solutions’ Portfolio Management Platform is an innovative, highly secure Software-as-a-Service technology solution that automates the collection, storage, collaboration, analysis, and reporting of portfolio data.  iLevel provides the seamless platform that integrates all information for GPs and LPs to monitor investments, prepare and report valuations, and exchange information. This comprehensive, end-to-end platform serves as the backbone to completely integrate reporting, analytical tools, and dynamic information sharing, and includes components for Private Equity, Real Estate, Debt, and LP Reporting.  For more information, please visit www.ilevelsolutions.com.

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iLevel Solutions Enhances Portfolio Management Platform with New Release

New York, NY (May 3, 2011) – iLevel Solutions, a leading provider of private equity software and reporting solutions, today announced the publication of a white paper demonstrating how new technology is empowering private equity firms to be more confident in their reporting and analysis, ushering in a new age of data transparency and information sharing.  This white paper is based on a series of in-depth interviews with private equity executives and reveals how the benefits of information transparency are accruing to PE firms in the areas of:

• Better satisfying Limited Partners’ information needs
• Identifying opportunities to improve portfolio company performance
• Enhancing internal efficiency and productivity
• Easing fundraising in a challenging environment
• Finding the best among potential new deals

“In the aftermath of the global economic downturn and the alternative investment industry’s increasingly stringent regulatory requirements, private equity firms are recognizing the need to provide limited partners with a greater degree of information more frequently,” stated Rick Kushel, CEO of iLevel Solutions.  “In addition, portfolio company hold periods are now longer than in the past, thus increasing firms’ focus on better managing portfolio companies, resulting in a need for better internal information access and sharing.”

To request a copy of this Whitepaper, titled “Greater Transparency Creates New Opportunity for Private Equity Firms” visit iLevel’s Resource Center.

About iLevel Solutions

iLevel Solutions’ Portfolio Management Platform is an innovative, highly secure Software-as-a-Service technology solution that automates the collection, storage, collaboration, analysis, and reporting of portfolio data.  iLevel provides the seamless platform that integrates all information for GPs and LPs to monitor investments, prepare and report valuations, and exchange information. This comprehensive, end-to-end platform serves as the backbone to completely integrate reporting, analytical tools, and dynamic information sharing, and includes components for Private Equity, Real Estate, Debt, and LP Reporting.  For more information, please visit www.ilevelsolutions.com.

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iLevel Solutions Announces Release of Whitepaper on Information Transparency