Ipreo, a provider of financial services technology, data and analytical services, has acquired iLEVEL, a portfolio monitoring, analytics and transparency platform for global private capital markets.

Financial details of the transaction were not disclosed.

iLEVEL will be merged with Ipreo’s Alternative Assets group to form a new Private Capital Markets division within Ipreo.

The newly formed Private Capital Markets division will be dedicated to driving new levels of data flexibility, quality, control and efficiency, while enabling private market participants to generate deeper insights, create more value, demonstrate performance and – ultimately – increase allocations.

In the immediate term, the new division’s suite of solutions will include the iLEVEL platform, CapControls, QVAL and ClearMomentum, with plans to integrate data and technology into a comprehensive platform.

Kevin Marcus, President and COO of Ipreo, said: “We have long seen a need for greater transparency in the alternative assets space. The acquisition and integration of a company of iLEVEL’s caliber is a clear demonstration of our commitment to deliver high-quality, innovative solutions to the private capital markets.”

Hamilton Lane as well as Duff & Phelps - a leading global valuation and corporate finance advisor - have agreed to roll significant portions of their iLEVEL ownership into an investment stake in Ipreo.

Beyond this vested interest, both Hamilton Lane and Duff & Phelps will remain closely aligned with Ipreo’s Private Capital Markets division as critical strategic partners.

Erik Hirsch, CIO of Hamilton Lane and a member of the iLEVEL board of directors, said: “iLEVEL has been at the forefront of linking GPs and LPs through greater communication, improved connectivity and enhanced data transparency.”

“We view this strategic alliance as the next positive step in furthering those initiatives and believe the new Private Capital Markets division will greatly benefit from iLEVEL’s sophisticated technology, scaled commercial infrastructure and strong client presence in the private markets,” he said.

Ipreo is a provider of primary new-issuance solutions and investor data to all participants in the global capital markets, enabling clients to execute deals more efficiently.

Ipreo was acquired in August 2014 by private equity funds managed by Blackstone and Goldman Sachs Merchant Banking Division, and shortly thereafter expanded into the Alternative Assets space with the acquisitions of Shareholder InSite and ClearMomentum.

Kevin Black, CEO of iLEVEL, said "Ipreo has deep expertise in capital-raising solutions, global scale and a strong leadership team. The merger of these solutions will bring long-term benefits to iLEVEL and all Ipreo Private Capital Markets clients across multiple work streams through a single integrated platform.”

The Ipreo Private Capital Markets Division will be led by Kevin Black, current CEO of iLEVEL.

Macquarie Capital is acting as financial advisor to Ipreo, and Locke Lord is acting as Ipreo's legal counsel in respect to the transaction.

Barclays Bank is acting as financial advisor to iLEVEL Solutions Holdings, and Goodwin Procter is acting as iLEVEL's legal counsel in respect to the transaction.