Fund administrator aims to help sponsors struggling to find suitable finance chiefs, and it landed a former GP CFO who is joining the offering’s team.
Service provider boosts European presence in a deal meant to follow clientele that are also growing into international markets.
Offering will give LPs – including those who act as GPs of secondaries funds and fund of funds – and fund administrators asset-level data.
New offering relies on AI for data gathering and processing, with people reviewing the work.
'We went from everybody wants to have an ILPA template to everybody wants ILPA-plus,' Petra managing partner Stephen Coats said.
The service provider created the new role to help bring together Guernsey businesses.
Private Funds CFO's Management Company report, produced in partnership with Gen II Fund Services LLLC, shows that GPs should vet service providers with the same care and rigor as any full-time employee.
Service provider uses Canoe Intelligence product to lift productivity and cut errors.
The procurement firm will work with portfolio companies to cut costs as PE firms prepare to sell or reinvest with a business.
Most fund administrators use antiquated technology that doesn’t allow clients access to their data. Co-sourcing turns the tables on that, writes Celeste Barone of 4Pines Funds Services.