HOBOKEN, N.J., March 20, 2012 (GLOBE NEWSWIRE) -- The Illinois State Board of Investments, with a portfolio of over $5 Billion of private capital investments consisting of limited partnerships, co-investments and direct holdings, has implemented The Burgiss Group's Private i solution to consolidate investment data and enhance reporting capability. Private i was selected as the best fit from responses to an RFI sent to vendors in the fall of 2011.
"We didn't need another accounting system or general ledger," said Alise White, ISBI's CFO. "Our search was for a solution that would help us analyze all our portfolio data in one place, and provide the type of reporting needed for a large portfolio of complex investments."
"We also wanted this to be simple, and not a prolonged technology project," she continued. "We're an investment team with only so much time and resources to manage change. One of the big benefits we saw in Private i was the ease of implementation. With support from Burgiss, we had all our historical data in the system and our users trained within a month's time."
Burgiss provides easy-to-use upload utilities so ISBI can transfer their cash flow data from the custodian's system into Private i periodically, thus eliminating any need to manually enter data. Tim Kominiarek, ISBI's portfolio manager of Private Markets adds, "Beyond the operation function, the software supports dynamic analysis we need to report on performance by fund, vintage, manager, strategy, and asset type. A key requirement for us was to have an easy-to-use, excellent reporting capability. Private i was a clear choice here."
"We're extremely pleased with ISBI's decision," said James Kocis, President of the Burgiss Group. "Private i's analytics and reporting capabilities make it the clear favorite among state employee and teachers' retirement systems. ISBI joins the more than 50 public pension plans who have adopted Private i."
The Burgiss Group, LLC, headquartered in Hoboken, New Jersey (USA), is a privately-held solutions provider catering to limited partners, advisors and fund of funds in the private capital market. With over 350 clients worldwide, Burgiss provides solutions to manage investments through every stage of the private capital investment life cycle. The Burgiss Group counts many of the world's largest investors in alternative assets among its customers, including pension funds, endowments, foundations, funds of funds, gatekeepers, consultants and family offices. For more information, visit www.burgiss.com
The Burgiss Group, LLC logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12046
About ISBI: The Illinois State Board of Investment (ISBI or Board) has fiduciary responsibility for managing the pension assets of the General Assembly Retirement System, the Judges' Retirement System of Illinois and the State Employees' Retirement System of Illinois.