Allvue Systems, a distinguished provider in technology for alternative asset managers and fund administrators, recently introduced Fund Administration Essentials.
This suite is specifically crafted to meet the rising needs of emerging fund administrators. It aims to enhance operational efficiencies and enrich the investor experience by integrating technology seamlessly with business operations.
Tailored for emerging fund administrators, the Fund Administration Essentials suite is designed to provide outstanding support for General Partners (GPs) and their investors. As these administrators expand, the solution adapts, enhancing efficiencies in back-office processes through complete integration and automation of accounting workflows. It also simplifies client onboarding and improves the investor journey by offering consistent communication and robust fund reporting.
Reflecting on the impact of the Allvue platform, Praxis, a global corporate and fund administrator, has praised its capabilities.
Praxis Group Head of Corporate Services Ava Fairclough commented, “We’re excited to work with Allvue Systems. The Fund Administration Essentials suite will enhance our ability to provide accurate, timely, and transparent reporting while reducing operational burden. This tool positions us to meet the evolving demands of the market and with delivering high-quality services to the funds we support.”
The trend of outsourcing fund administration in the private equity sector is climbing, as highlighted by recent data from the SEC. Over 75% of private capital firms in the US now engage at least one third-party administrator, a sharp rise from previous years. In Europe, the numbers are also significant, with over 60% of funds relying on third-party services for fund administration as per the European Fund and Asset Management Association (EFAMA).
James DiCostanzo, Global Head of Fund Administration at Allvue, expressed the company’s commitment to service enhancement. “Our solution is focused on helping fund administrators attract new business while providing exceptional service to existing clients.
“By automating time-consuming back-office processes, our solution simplifies the complexities fund administrators face, allowing them to maintain their competitive edge and focus on business growth.”
The Fund Administration Essentials solution is currently available and Allvue Systems plans to continually enhance its capabilities to cater to the dynamic needs of the industry.
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