Alter Domus, a tech-enabled fund administrator specializing in alternative investments, recently added new services to support the launch and administration of funds with the growing democratization of private assets in mind.
The new services cater to open-ended private market funds and closed-ended private market funds with liquidity management features including European Long-Term Investment Funds. The firm said the demand for capabilities to manage open-ended funds among its clients has grown as a result of the ongoing regulatory changes in the EU, U.S., and U.K. The new open-ended fund solutions are geared to its clientele that includes 90% of the top 30 alternative investment managers.
“Increased appetite from individual investors in private assets, coupled with regulatory tailwinds such as ELTIF 2.0 in the EU, and redefinition of accredited investors in the U.S., are creating significant opportunities for our clients to serve a broadening base of investors,” said Alter Domus CEO Doug Hart. “As a leader in our space and a trusted partner to our clients for more than 20 years, we’re committed to being ahead of the curve to deliver the solutions they need to explore new fund structures and seize the opportunities in front of them.”
Alter Domus’ fund administration offering includes fund formation, investor and transfer agency services, investor and regulatory reporting, fund accounting, cash management, capital administration and tax services.
The multi-layered service expansion includes an increased frequency of NAV calculation and more streamlined settlement processes. Clients will also see a boost in connectivity to distribution networks for settlement of trades in addition more functionality to handle more complex distribution channels, such as individual investors and wealth advisers.
The firm said it is also offering enhanced investor and regulatory reporting to account for increased volume of liquidity events, which is something of great interest as retail investors enter the alternative investment sphere.
Alter Domus said that for its Luxembourg-based fund clients it now provides direct support as a registered transfer agent. The firm is also in partnership with transfer agent systems in North America and the U.K.
The added offerings will be supported in part by a partnership with Temenos Multifonds, which offers a platform that seamlessly integrate SWIFT and NSCC counterparties to find new efficiencies and reduce risk to support retail-style scale and volume and facilitate open-ended fund liquidity management via a suite of tools, officials said.