Alternative investment industry data provider Preqin has launched a new division, dubbed Preqin Solutions, to streamline the portfolio management process for private capital fund managers and investors.

The launch of the new platform follows Preqin’s acquisition of a controlling stake in Baxon Solutions, a UK-based provider of cloud-based monitoring solutions for the private equity sector, in last November.

Preqin said that its new platform comprises tools that have been designed to streamline the collection of portfolio company data, enhance the valuation and reporting processes by fund managers, and supports quick and easy implementation.

Preqin added that the platform will eventually emphasise on integrating workflow solutions and analytics with Preqin’s datasets to offer more high-value tools to clients.

Preqin Solutions CEO Chris Ferguson said: “The private equity industry is facing a period of increasing reporting and regulatory challenges, in addition to unprecedented levels of competition for capital. Our solution aims to assist firms with not only the underlying data challenges of managing their portfolios, but also in conveying the effectiveness of their value creation initiatives to their investor or trustee base.

“The flexibility of our solution allows us to offer this kind of service to firms of all shapes and sizes, and we are excited about the possibilities and impact that this democratization of best reporting practice and data will have on the industry.”