March 13, 2014
Thomson Reuters and Cambridge Associates Create Innovative Online Platform for Private Fund Performance Benchmarks
NEW YORK - Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today announced an agreement with Cambridge Associates, a leading global investment firm, to provide Cambridge’s private fund performance benchmarks through a jointly-developed online platform. Thomson Reuters will work closely with Cambridge Associates to develop a range of product offerings which will be made available through Thomson Reuters Eikon for the benefit of the global alternative investment community.
Thomson Reuters Eikon subscribers will benefit from Cambridge Associates' strong coverage of the asset classes and geographic categories traditionally offered within Thomson Reuters benchmarking solutions (buyout, venture capital, real estate), but the new joint offering will also provide expanded asset class coverage including frequently-requested benchmarks such as growth equity, fund of funds, secondaries, energy, mezzanine and distressed. In addition the platform will provide expanded coverage of regional benchmarks, including Asia-Pacific, Latin America & Caribbean, Canada, the Middle East and Africa.
"We are pleased to be working with Cambridge Associates to offer a next-generation benchmarking system for the industry based on Cambridge’s world-class dataset," said Stephen Case, global head of deals & private equity for Thomson Reuters. "As we've looked to optimize our internal and external investments in this market segment, we are excited to have chosen a valued partner in Cambridge Associates, whose benchmarks will provide our global customer base with high-quality data sourced directly from fund managers. This jointly developed benchmarking system will serve as a perfect companion to Thomson Reuters own private equity and venture capital fundraising, investment activity, and exits solutions."
Thomson Reuters conducted an exhaustive worldwide analysis of potential data providers and based its ultimate selection on several key aspects of the Cambridge Associates franchise. Cambridge’s benchmarks are founded upon one of the industry’s largest institutional quality datasets, which includes the aggregated historical performance records of over 1,600 fund managers and 5,600 funds worldwide. The data is sourced directly from contributing fund managers’ financial statements and is subject to rigorous quality control via independent verification processes. With access to this performance data, Thomson Reuters Eikon subscribers will immediately benefit from increased regional and asset class coverage.
Rich Carson, director of benchmark services at Cambridge Associates, added: "It is a real privilege to have been chosen by Thomson Reuters as their benchmarking partner. Participants in the private investments ecosystem, whether they are investors, fund managers, advisors or thought leaders, have depended on Thomson Reuters private investments offerings for many years now. We look forward to serving Eikon customers and expanding the distribution of our private benchmarks into new market segments via Thomson Reuters extensive global networks."
Cambridge Associates' aggregate private fund performance data and statistics will be available to Thomson Reuters Eikon subscribers coinciding with the release of benchmarks beginning in August 2014. In addition to the agreement with Thomson Reuters, Cambridge Associates will continue to provide its private benchmark information and systems directly to its own clients.
Thomson Reuters Eikon is designed to provide a powerful and intuitive next-generation solution for consuming real-time and historical data, connecting with the financial markets community and executing financial markets transactions across asset classes such as foreign exchange (FX), fixed income, commodities, equities and derivatives. Eikon realizes Thomson Reuters vision of a financial markets desktop that is intelligent, simple and social. Driven by powerful search engine technology, Eikon carries real-time data, news, charts, insightful commentary, analytics and trade execution tools through views that can be customized to individual user preferences and workflow.
Founded in 1973, Cambridge Associates is a provider of independent investment advice and research to institutional investors and private clients worldwide. Today the firm serves over 950 global investors and delivers a range of services, including investment consulting, outsourced portfolio solutions, research services and tools (Research Navigatorsm and Benchmark Calculator), and performance monitoring, across asset classes. The firm compiles the performance results for over 5,600 private partnerships and their nearly 70,000 portfolio company investments to publish its proprietary private investments benchmarks, of which the Cambridge Associates LLC U.S. Venture Capital Index® and Cambridge Associates LLC U.S. Private Equity Index® are widely considered to be among the standard benchmark statistics for these asset classes. Cambridge Associates has more than 1,100 employees serving its client base globally and maintains offices in Arlington, VA; Boston; Dallas; Menlo Park, CA; London; Singapore; Sydney; and Beijing. Cambridge Associates consists of five global investment consulting affiliates that are all under common ownership and control. For more information about Cambridge Associates, please visit www.cambridgeassociates.com.
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to http://thomsonreuters.com.