Market intelligence group Ipreo is adding ILevel to form a private capital markets division.
ILevel developed a portfolio monitoring, analytics and transparency tool for private capital markets, which can link private equity firms' general partners and limited partners. Valuations advisers and ILevel owners, Hamilton Lane and Duff & Phelps, will roll portions of their ownership into a stake in Ipreo. Terms of the deal were not disclosed.
Ipreo, headquartered in New York, provides data, market intelligence and other capital-raising services to capital markets and corporate professionals. Buying ILevel allows Ipreo to build out the private capital markets division, which it says should help provide more data flexibility and deeper insights to customers.
Managed funds of Blackstone and Goldman Sachs Merchant Banking Division bought the business in 2014. Since that deal, the business has acquired Shareholder InSite and ClearMomentum to expand in alternative assets. Before Blackstone and Goldman, since 2011, Kohlberg Kravis Roberts & Co. LP (NYSE: KKR), owned the business. Under KKR, Ipreo acquired Debtdomain and Discovery Data to grow services.
Macquarie Capital is acting as Ipreo's financial adviser, and Locke Lord LLP is providing legal advice. Barclays Bank plc is ILevel's financial adviser, and Goodwin Procter LLP is legal counsel.