Waterfalls

Tim Eberle, managing director of Citco Fund Services (USA), outlines the firm’s recommended steps to reduce heightened clawback risk.

The tech companies’ partnership will give clients automated carry and waterfall calculations, as well as instant access to relevant data from fund documents for audits and more.

Provider aims to make calculating overall carry faster and less error prone, and will soon offer automated employee-specific carry calculations.

A long-standing aversion toward using technology and automated processes to calculate carry and waterfalls is slowly dissipating, but the private funds industry has some way to go before adoption takes hold across the board.

Petra Funds arrives as the weight of back-office burdens is set to grow. Regulators are starting to roll out proposals aimed at making private markets more transparent and leveling the playing field.

Whether it’s tenders, intervals, evergreens or hybrids, the private funds industry is seeing a re-emergence of novel fund structures. We spoke to managers and service providers trying to tap a growing base of investors.

Growth in separate accounts and retail evergreen products means the investment firm’s carry mix will change, its vice-chairman said on its latest earnings call.

The firm announced the acquisition of Investors Economic Assurance. It is the fund administrator’s third US-based acquisition in six months.

Todd Boudreau argues that ILPA’s model LPAs can give emerging managers an edge in a highly competitive market, helping to attract new relationships and reduce the costs and complexities of negotiation.