Creand Wealth & Securities, the Luxembourg-based Asset Servicing & Wealth Management arm of the international Creand Group, has picked NeoXam GP4 as the platform it will use to run fund accounting for its private assets business.
The decision sees Creand W&S retire its existing system for this part of the business and deepen a relationship with NeoXam that already spans other areas, opting for one platform capable of administering both traditional and alternative funds as its activity expands.
The choice comes as Creand W&S looks to industrialise its fund administration operations around a platform designed for the particular demands of private markets. Standard fund accounting tools are often not built to cope with the structures and valuation approaches that private assets require, and running separate systems for traditional and alternative vehicles tends to add cost, complexity and operational risk.
Creand W&S wanted a single, robust platform that could support its expanding private equity activity while keeping all of its funds, whether traditional or alternative, on the same operational basis.
GP4 was selected because it matches the direction of travel of Creand W&S’s private equity business while bringing traditional and alternative fund administration together on one system.
Installed on-premises, the platform offers a modular, end-to-end setup that can handle complex private-asset products, bring data and workflows together in a single environment, and work across several accounting standards, including Luxembourg GAAP, US GAAP and IFRS, within the same solution. Creand W&S expects this to translate into fewer manual steps, more consistent data across its fund range, and room to scale as new mandates are added.
The firm is targeting go-live before the end of the year, after which it expects to run a more industrialised administration model, handle sophisticated private-asset products with greater confidence, and rely on native multi-GAAP reporting from one centralised platform rather than a patchwork of separate systems.
NeoXam GP4 itself is described as a modular, end-to-end investment and fund accounting platform aimed at asset owners, asset managers and asset servicers. It provides centralised, real-time bookkeeping across multiple jurisdictions and accounting standards, extensive workflow automation, and native handling of both traditional and alternative assets, giving institutions one source of truth across their fund range.
Creand Wealth & Securities chief strategy officer Sébastien Leleu said, “As our private assets activity grows, we needed to industrialise the way we administer funds rather than keep adding systems and manual workarounds.
“NeoXam GP4 lets us run our traditional and alternative funds on one platform, handle the complexity of private assets, and produce Lux GAAP, US GAAP and IFRS figures from a single source. It gives us the operational excellence to continue to scale with confidence.”
NeoXam managing director, Continental Europe, Charles Sayac said, “We are delighted that Creand W&S has chosen NeoXam GP4 to support the growth of its private-assets business.
“Private assets demand a fund accounting platform that can absorb sophisticated structures without forcing firms to silo them away from their traditional funds. With GP4, Creand W&S gets exactly that: one platform for the entire fund range, built-in multi-GAAP support, and the ability to industrialise operations as volumes rise. We are proud that this win establishes a new reference for Private Assets administered on GP4.”
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