HBSE selects GPX for partners’ investment interests

CAMDEN, N.J., Sept. 9, 2021 /PRNewswire/ — Harris Blitzer Sports and Entertainment («HBSE»), a leading sports and entertainment company, selected GP…

CAMDEN, N.J., Sept. 9, 2021 /PRNewswire/ — Harris Blitzer Sports and Entertainment («HBSE»), a leading sports and entertainment company, selected GP Power X («GPX»), a dedicated carried interest software solution for Alternative Investments.

Bringing its General Partner accounting capabilities to the next level, HBSE selected GPX to build a modern GP platform. The solution will help to simulate in real time GP carried interest allocations, monitor capital events, and centralize financial reporting.

«We are pleased to bring GPX on board to support our partners and various ownership allocations. It’s an exciting time for our growth and the need to structure our partners’ interests with full data security and workflow integration,» said Paul DiCicco, Senior VP and Corporate Controller at HBSE. «Our goal is to eliminate manual work, improve data quality and efficiently deliver simulations and reporting to our senior executives. We will also improve our auditability and make a sensitive and complex process more secure. Our partners look forward to having a dedicated portal to access their information.»

«We are very excited to count HBSE as one of our new clients. HBSE has some complex allocation rules via diverse investment vehicles; we look forward to bringing HBSE to the next level of partner’s investments information. We are working to expand the product’s capabilities for distribution waterfalls, fund modeling and use artificial intelligence for deal performance analysis. Since Excel is still widely used in the Private Markets industry when dealing with complexity, we have a tremendous opportunity to provide a professional software alternative,» said Xavier Joly, CEO and Co-Founder at GPX.

About GP Power X (www.gppowerx.com)

GPX is an innovative software provider of partner compensation and fund modeling solutions dedicated to alternative investments. GPX has recognized expertise in partner allocation, capital events management, carried interest, waterfall calculation, fund modeling and reporting through its dedicated partner portal. GPX has offices in New York, Paris and Bucharest.

About Harris Blitzer Sports & Entertainment (www.hbse.com)

Harris Blitzer Sports & Entertainment is a leading sports and entertainment company, with a focus on delivering the ultimate fan experience and developing and enhancing the communities in which their teams live, work, play and win. HBSE’s portfolio includes premier franchises, brands, venues, and investment platforms, centered around three marquee assets, the NBA’s Philadelphia 76ers, the NHL’s New Jersey Devils and the Prudential Center in Newark, NJ.

Contact: Xavier Joly, xavierjoly@gppowerx.com

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SOURCE GP Power X