iLEVEL, the cloud-based software provider to the private capital market, has opened a European data centre in the UK.
The iLEVEL private capital data platform streamlines data collection across a portfolio into a central repository, enabling fund managers and institutional investors to track investment performance with real-time, standardised reporting.
“iLEVEL has made a strong commitment to the Europe, Middle East and Africa [EMEA} market and continues to invest in infrastructure and staff to support that commitment,” said Melissa Ferraz, vice president (VP) of EMEA sales for iLEVEL.
“This has been a year of rapid growth for iLEVEL in EMEA and we are excited about the continued momentum. Three of the top seven European-based private equity firms track their portfolios on iLEVEL and we expect our client numbers to continue to grow.”
The data centre houses iLEVEL’s private cloud in the Europe, which is hosted and managed by the managed cloud company Rackspace.
The number of firms on iLEVEL has doubled in the past year and includes alternative investment firms of varying sizes that employ a wide range of investment strategies.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
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