iLevel, the cloud-based software provider to the private capital market, today announced that RCF Management L.L.C., the advisor to Resource Capital Funds ("RCF), has selected the iLevel Private Capital Data Platform to track the performance of its investments in mining and mining-services companies located on 6 continents.
Fund managers leverage iLEVEL to replace manual, error-prone and complex data collection processes, accelerate reporting and expedite performance measurement to drive value creation. The Denver-based private equity firm is currently investing its sixth fund, Resource Capital Fund VI L.P., with committed capital of $2.04 billion and manages approximately US$1 billion of assets through its three other active private equity funds, Resource Capital Fund V L.P., Resource Capital Fund IV L.P. and Resource Capital Fund III L.P.
"Our ability to demonstrate value creation and build businesses is based on a combination of comprehensive analysis of investments and partnering with talented management teams," said Sherri Croasdale, Chief Financial Officer, RCF. "We need to efficiently measure the performance of our funds and portfolio companies and chose iLEVEL to help us monitor cash flows and various other metrics."
"Private equity firms have rapidly become key players in the mining industry with significant pools of capital seeking outsized returns from the sector," said Rick Kushel, CEO of iLEVEL Solutions. "We are excited that RCF a specialist and veritable leader in the space, has selected the iLEVEL platform to measure investment performance and welcome them to our community."
The number of firms on iLEVEL has doubled in the past year and now includes 8 of the world's 15 largest private equity firms, a significant number of middle-market fund managers as well as institutional investors. Clients of iLEVEL account for 1 in every 4 dollars raised by fund managers during the last ten years. In addition, the platform hosts half a billion data points for nearly 750 funds invested in over 6,000 portfolio companies.