Fund Administration

The proliferation of semi-liquid structures is creating new challenges for administrators

The new group will focus on technology, data management and management reporting for clients.

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.

Luxembourg-based Alter Domus has over $2.5trn assets under administration.

Service provider uses Canoe Intelligence product to lift productivity and cut errors.

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.

The tech provider aims to make calculating overall carry more efficient as firms struggle to attract and retain operational talent.

Service provider will use investment to add talent and scale its offerings.