In a recent article by Nicole Miskelly of Private Funds Management entitled, PE firms should get savvier with data, Altvia’s CEO, Kevin Kelly, was interviewed for a perspective on the “big data” trend and in particular how Private Equity firms are using data to help make the business and fundraising process more efficient.
“Forward-looking firms are the ones that realize that there is a lot of data in their operations; they just need to do a better job of capturing it,” comments Kevin. This trend is driven in part by the increasing breadth and depth of LP requests and in part by fund managers realizing the massive potential of big data. For instance, fund managers are starting to better leverage data during the fundraising process to track more of the indicators that make an investor a viable prospect.
“Fund managers are starting to realize that they do not only need to be in front of LPs more frequently with more information at hand but they also need to be more targeted to make sure that their efforts are targeted at LPs that are their ideal prospects,” shares Kevin. With better data to target investors, fund managers can gain a stronger competitive advantage.
And for LPs, who are experiencing greater challenges in resource management, better data is especially relevant to help drive better decision-making surrounding Private Equity allocations and determine benchmarks of fund performance. By leveraging data in these ways, LPs are able to access more market insights and increase their operational efficiency.
Read more about Private Funds Management’s article, PE firms should get savvier with data.