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LP Reporting: Keeping Up with LP Requests


Our ability to aggregate the latest data across funds, sectors, and portfolio companies is one of Baxon’s key strengths. When several of our clients requested automations for their LP reporting, we knew we could help.

Commonly, private equity firms meet LP reporting requirements by maintaining a spreadsheet with key information and then using that data to build individual files for each LP. Excel is a powerful tool, but the key problem with using it for LP reporting is that it produces a static picture that requires manual updates. Data sources should be fresh and the output should be dynamic. When data sits on a hard drive, it is already becoming stale.

In addition to the risk of data stored on a drive becoming obsolete, it is a challenge to aggregate that data in different ways. An LP might request company performance over several quarters, LTM, or against previous fiscal year. While the format of an LP’s report might stay the same over several years, it needs to be filled with fresh data quarterly, bi-annually, or as an ad hoc request.

For our clients, we customize an LP request tool that pulls directly from the latest information provided by portfolio company CFOs. All the data is brought into one file, quickly reviewed, and used to drive the varied requests and formats across many LP reports, each with a different format.

This is done by pulling fresh data into Excel using our Baxon Excel Live Link feature, but that same data can be accessed from anywhere on the cloud in Baxon PCMS.

We’re also looking toward the future of LP reporting. We know the latest expectations of LPs through feedback from our clients, and we stay ahead of the curve following main industry standards such as ILPA or IPEV, which sets an industry best practices and standards for LP portfolio reporting.

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