Gen II launches automated ILPA tool

Gen II, a US-based fund administrator, has launched its Institutional Limited Partner Association reporting template, to simplify the transfer of ILPA guideline data between LPs and GPs.

The tool integrates a specialist alternative asset fund administration platform from DTCC, a US compliance technology firm.

Gen II’s launch follows the release of Citco’s automated ILPA platform. The financial services firm cited a climate of increased pressure from ILPA to report on more metrics to LPs. Fund administration is also ripe for digitization, said Citco head of private equity, Nick Perros.

“Most of the activities underlying administration function (outside of the general ledger) are not automated. Existing tools are okay, but they could be much better,” he said.