Luxembourg, London, and Chicago, January 4, 2024 – Alter Domus, a leading provider of tech-enabled fund administration, private debt, and corporate services for the alternative investment industry, announced today new capabilities to support the launch and ongoing administration of open-ended private market funds and closed-ended private market funds with liquidity management features including European Long-term Investment Funds (ELTIFs).
A confluence of factors, including an increase in retail demand for non-traditional assets, as well as regulatory changes in the EU, US, and UK to broaden access to private market investments, are enabling the democratization of alternative funds. This is driving significant demand for capabilities to manage open-ended funds among Alter Domus’ clients, which include 90% of the top 30 alternative investment managers.
The new open-ended fund solution expands the capacity of Alter Domus’ comprehensive fund administration suite, which includes fund formation, investor and transfer agency services, investor and regulatory reporting, fund accounting, cash management, capital administration and tax services.
Key features and functionality include:
- Ability to support increased frequency of net asset value (NAV) calculation and more streamlined settlement processes.
- Increased connectivity to distribution networks for settlement of trades and more responsive functionality to handle more complex distribution channels, such as individual investors and wealth advisers.
- Enhanced investor and regulatory reporting to account for increased volume of liquidity events.
- For Luxembourg-based funds, Alter Domus provides direct support as a registered transfer agent (TA). For North American and UK-based funds, Alter Domus works in partnership with leading TA systems.
The new capabilities will be supported in part by a partnership with Temenos Multifonds, featuring 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.
Alter Domus CEO Doug Hart, said: “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. 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.”
About Alter Domus
Alter Domus is a leading provider of tech-enabled fund administration, private debt, and corporate services for the alternative investment industry with more than 5,100 employees across 39 offices globally. Solely dedicated to alternatives, Alter Domus offers fund administration, corporate services, depositary services, capital administration, transfer pricing, domiciliation, management company services, loan administration, agency services, trade settlement and CLO manager services.
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