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Portfolio Advisors Selects Canoe Intelligence and Exchangelodge to Automate Alternatives Data Management

The combination of Canoe Intelligence for document retrieval and data extraction technology and Exchangelodge as a data validation and integration platform supports Portfolio Advisors’ vision for automating alternatives data management.

Canoe Intelligence, a financial technology company redefining data management processes for alternative investors and allocators, and Exchangelodge, a data integration platform built for the alternative investment industry, announced that Portfolio Advisors, LLC selected a combination of Canoe and Exchangelodge technologies to scale the document and data management processes for its private markets investments.

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“Working with the category leader in Canoe, we will eliminate the manual nature of managing the entirety of the private markets document and data workflow. We’re excited to empower the Portfolio Advisors team with the technology to consistently and sustainably support their firm’s growth.”

Since its inception in 1994, Portfolio Advisors has concentrated entirely on private markets – first in an advisory capacity, then in combination with dedicated fund vehicles, custom portfolio solutions, and portfolio administration. Managing more than $30.6 billion in discretionary and non-discretionary assets, Portfolio Advisors serves a roster of institutional investors from its five global offices.

“The combination of Canoe Intelligence and Exchangelodge will enable our team to transition from data laborers to data managers with exceptional data extraction and validation capabilities,” said Steve Scolnik, CTO at Portfolio Advisors. “By implementing this solution into our technology stack, we expect to continue innovating our approach to alternative investment management, free up time for additional data analysis and reporting, and deliver even better service to our clients.”

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Portfolio Advisors achieves improved data accuracy and timeliness combined with streamlined operationally efficient workflow. This is accomplished by leveraging the open architecture of both Canoe Intelligence and Exchangelodge platforms for alternatives document collection and data management. As part of the partnership, Canoe will automate the retrieval and categorization of Portfolio Advisors’ documents from multiple sources including investor and administrator portals and email, and extract the relevant data. Through a fully automated API integration, Exchangelodge will consume the extracted data and documents from Canoe to fill in any data gaps and intelligently identify, cleanse, review and approve any data discrepancies or anomalies. This results in enriched and trustworthy data delivered to other internal systems for reporting and analysis.

“We are thrilled to be partnering with the team at Exchangelodge to design and deliver an automated and scalable data management solution for leading alternative investors like Portfolio Advisors,” said Mike Muniz, Chief Revenue Officer at Canoe Intelligence. “Like Canoe, Exchangelodge is an innovator transforming the industry. Their knowledge in enriching and validating private capital data is the perfect complement to our platform. We’re looking forward to implementing this combined solution at Portfolio Advisors and aiding the team in realizing new operational efficiencies. We think this is a gamechanger for the industry.”

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Canoe leverages a shared intelligence from its diverse client base of more than 150 institutional investors, capital allocators, asset servicing firms and wealth managers, and built a fund master database of over 14,000 funds across numerous asset classes. This scale enables Canoe to ingest high volumes of complex documents and create instantaneous access to actionable data. Portfolio Advisors is joining other innovators including Blackstone, AlpInvest Partners and Lexington Partners that are applying this industry-standard approach for automating alternatives documents and data management.

“We’re proud to share our expertise in unifying data disconnections across investment managers, investors and service providers for clients like Portfolio Advisors,” said Ian Rubenstein, CEO at Exchangelodge. “Working with the category leader in Canoe, we will eliminate the manual nature of managing the entirety of the private markets document and data workflow. We’re excited to empower the Portfolio Advisors team with the technology to consistently and sustainably support their firm’s growth.”

This announcement follows Canoe’s recent accomplishments including the completion of a record 2021 year in terms of revenue, client and team growth, as well as numerous new institutional client and partner relationships.

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