"We built Private iQ because we were equipped to build the globally obvious solution that the private capital investment community needs for decision support and benchmarking," said Jim Kocis, President of the Burgiss Group. "We knew our unique position in the market would allow us to create the most complete and accurate private capital database ever assembled and that our deep understanding of the analytical needs of the market would allow us to build an incredibly rich and meaningful product.
"The Burgiss Group provides software and data services to more than 300 of the world's largest investors,with over $1 trillion in total committed capital. Their flagship solution, Private i, was instrumental in this new effort. "Our large install base of Private i clients allows us to make the data gathering process entirely electronic, leading to a faster and more comprehensive result," added Mr. Kocis. "By sourcing cash flow and valuation data from LPs, we are able to eliminate survivorship bias and deliver analytical results that reflect actual investor experience."
The most significant contribution Private iQ makes to its subscribers is that it empowers them to make data-driven decisions. Early clients are leveraging it to evaluate a wider range of investment opportunities because prospective managers can be quantitatively analyzed and screened in a few clicks. Clients facing larger decisions, like capital budgeting and asset allocation, are calibrating their models based on the time-series and variability data that is available in the product.
Private iQ.com underwent a year-long beta process and begins its commercial life with more than 60institutional subscribers. One of these early clients is Craig Nickels, the Director of Private Markets for Washington University in St. Louis. "Private iQ is now indispensable," he said. "It provides us with a tremendous amount of market intelligence."