Partnership provides private markets more transparency through iLevel, a single source for data collection and reporting
NEW YORK, Sept. 21, 2022 /PRNewswire/ -- Novata, a leading ESG data platform built for the private markets, and S&P Global Market Intelligence, a provider of information services and solutions to the global markets, today announced a strategic partnership to provide private market investors with a holistic data solution that simplifies the process of collecting both financial and ESG data.
Through this partnership, Novata's platform will be made available for S&P Global Market Intelligence customers to bridge their ESG data with financial data in order to provide a single source of insights. This proposed integration will help market participants make informed decisions about how ESG drives financial outcomes, and enable transparent communication to investors, auditors, boards and other key stakeholders. The platform is intended to be made available through S&P Global Market Intelligence's iLEVEL offering, a leading portfolio monitoring software solution that enables General Partners (GPs) and Limited Partners (LPs) to streamline financial data collection.
Novata's cutting-edge platform provides customers with a clear starting point for selecting relevant ESG metrics, painless data collection into a secure database, along with both analytics to inform investment decisions and reporting capabilities for key stakeholders. The integration with iLEVEL's platform will enable private market investors to manage their financial and ESG data all in one place and assess the financial materiality of ESG data.
"Novata and S&P Global Market Intelligence have come together to empower private companies to better assess the financial implications of their critical ESG data," said Scott Kennedy, President and co-founder of Novata. "Until this point, ESG data has existed in a vacuum and there hasn't been a way to effectively connect ESG and financial data. Through this partnership clients will now be able to incorporate ESG dynamics into discount rates to better value companies."
With mounting pressure from regulators, investors, customers, and employees to increase data transparency, this partnership will ease the process for GPs and LPs to collect all the key data necessary for their stakeholders.
"Our customers want the best of both worlds: all of their important data, both financial and non-financial, in one place, as well as a solution that is tailor-made for the unique challenges of collecting ESG data within the private capital markets," said Andrew Eisen, head of Software Solutions at S&P Global Market Intelligence. "By teaming up, S&P Global Market Intelligence and Novata are able to provide our customers the trust and transparency they have been looking for to better manage risks and opportunities through an integrated solution."
S&P Global (NYSE: SPGI) is part of the consortium of organizations that supported Novata upon its launch in 2021.
Novata is a public benefit corporation created to enable the private markets to achieve a more sustainable and inclusive form of capitalism. Novata helps GPs and private companies navigate the complex ESG landscape more easily by providing a unique technology platform that simplifies the process of selecting relevant metrics, clear and simple guidance for painless data collection, a cutting-edge secure contributory database to store data, and unique tools for analysis and seamless reporting to key stakeholders, including limited partners and regulators. Novata was formed as a partnership of the Ford Foundation, S&P Global, Hamilton Lane and Omidyar Network and is majority-controlled by mission-driven organizations and its employees. For more information, please visit https://www.novata.com/.
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