LEXINGTON, S.C., Oct. 8, 2020 /PRNewswire-PRWeb/ -- Adopting Data Standards (ADS), a non-profit private investments industry coalition, recently marked its one-year anniversary electing its first board of directors.
Appointments to the ADS board of directors include Marianne Stenberg of Swedish pension fund AP2, Paulo Nunes of IHS Markit, Daniel Gregor of Allianz Capital Partners, and Rich Carson of Cambridge Associates.
A purpose-driven organization, ADS also marked its anniversary by holding its first annual meeting of members. ADS is bringing together asset owners, fund managers, and other industry providers to define much needed digital data standards for the benefit of all participants in the markets for private capital.
As an independent organization, ADS' goal is not to develop another reporting template, but instead to develop a data standard (or a "data dictionary") to support the many templates and best practices already used in the industry.
Speaking on behalf of ADS, director Marianne Stenberg of Swedish pension fund AP2 explained, "It takes an enormous amount of time and money for investors like AP2 to scrub and normalize the data they are receiving from their private fund managers; but if institutions work together, with ADS, we can solve this."
Director Paulo Nunes of IHS Market added, "There is significant potential for scale and automation with ADS because a common reporting language is the key to unlocking data efficiency for everyone. IHS is teaming up to benefit all market participants."
Finally, board member Rich Carson of Cambridge Associates added, "Cambridge Associates supports ADS because we think - working together - we have a shot at making investing in private markets better for investors, fund managers, and service providers. We want to work with like-minded industry leaders to try and make that happen."
Find out how to join one of the most forward-thinking organizations in private capital at http://www.adsinitiative.org.
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SOURCE Adopting Data Standards Initiative
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