TopQ Software, a technology company founded by former private equity investors, has announced its launch on topquartile.com. TopQ is a tool for the secure exchange and analysis of track record data between private equity fund managers and institutional investors.
TopQ allows private equity fund managers to upload their fund performance data securely and quickly, and share their data with invited institutional investors. Using TopQ, investors can then analyze the data with levels of accuracy, speed and data visualization that have until now been unavailable in the private equity industry.
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TopQ contains an array of proprietary technology, which will change the way private equity track record data is analyzed. These include: an ‘intelligent import’ capability, which means the platform can interpret track record data from a variety of spreadsheet formats; ‘dynamic filtering’ which allows track record data to be filtered by geography, industry, individual team member etc, at the touch of a button; and a range of customizable charts and configurable tools, designed specifically to illustrate aspects of private equity fund performance, which can be arranged within TopQ’s ‘widget framework’.
TopQ has locations in Edinburgh, London and Boston. The company was founded in 2013 by Graeme Faulds and Graham Paterson, both founding partners of SL Capital Partners, one of the world’s leading private equity fund of funds, and Drake Paulson, a veteran of the private equity software industry.
Graeme Faulds, co-founder of TopQ, said: "It was always unbelievable to us that we were working in a $3 trillion industry still predominantly run on spreadsheets. This has always made track record analysis a painstaking and long-winded process for both fund managers and investors."
TopQ’s sharing function means that track records are viewed only by their intended recipients and all the key data is encrypted using the latest 256bit AES technology. The system also provides an audit trail of who has worked on a track record and when.
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By GlobalDataGraham Paterson, co-founder of TopQ, said: "Experienced investors in private equity will be familiar with the conundrum that every fund manager claims to be a top quartile performer. Even the worst performers can manage to dig up one particular metric which puts their fund in the top quartile, which means as an investor you end up having to cut through a lot of layers of data before you can perform an apples-to-apples comparison."
