Gen II Fund Services, LLC, a leading independent private equity fund administrator, today announced the launch of a free iPad and iPhone application for the private equity industry designed to enable investors to quickly and easily compute IRR and exit multiples on their investments.
“We are pleased to be one of the first to offer the private equity industry an easy and accessible way to calculate complex IRR returns,” said Gen II Managing Principal Norman Leben. “With institutional investors constantly traveling, the mobility of this application allows them to make a quick determination of the performance of their investment. There are other IRR calculators in the market but we believe none is as easy to use as the Gen II IRR Calculator.”
“It’s hard to keep it simple and yet be comprehensive. We put a lot of effort into the design of this application so investors can, in a few easy steps, professionally calculate their return on a given portfolio investment,” said Steven Millner, Managing Principal at Gen II. Mr. Millner noted that by inserting the amount and date of the initial investment, and the cash flow activity, the IRR can be calculated in as few as three steps.”
The Gen II IRR Calculator is available for download on the iTunes App Store.
Messrs. Leben and Millner are entrepreneurs who pioneered the private equity administration business in the mid 1990’s as co-heads of DML. They are widely known and respected within the industry and are credited today with the advent of many of the private equity industry’s best reporting practices.