Partners Group has launched an iPad app which will allow its LPs to review performance data and explore possible investments, Private Equity International sister title pfm has learned.
LPs using the app, which is available from today, will receive personalised intelligence on portfolio summaries, including sliced and diced performance analysis on their investments. They will also have the option to review activities, performance and investment programs in detail using interactive charts. In addition, investors will be able to download recent investor reporting materials as PDF documents and watch videos about the firm’s latest direct investment opportunities.
Technology is becoming “increasingly important in the private equity industry, because of the timeliness and accuracy it can provide, alongside the interaction it can provide between firms and clients,” Raymond Schnidrig, chief technology officer at Partners Group, told pfm.
Schnidrig expects decision-makers within an LP to use the app to gain a “consolidated, high-end view” on their investments and any new opportunities.
The app is an extension of the firm’s internal app, which it created three years ago for fund managers.
“It has been a big effort on our side to upgrade our back-office capabilities to get us to a level where we can carry out aggregated reporting across all of the investments that clients have with us,” says Schnidrig.
Private equity firms often use investor portals to relay fund information to investors and Schnidrig says that Partners Group still intends for its investors to use their portal as a tool for more detailed fund information. “The app will give clients access to the most relevant information only. If they want the full history or more detailed data to process in their own systems then they are expected to access the investor portal.”
Two years ago KKR launched an app which would enable limited partners to search performance data and receive investment updates. But it never materialised, due to lack of interest from clients, pfm understands.
Find out more about Partners Group’s reporting app in pfm’s interview with Raymond Schnidrig in this month’s magazine.