News

Alter Domus rises again in PwC’s 2024 Observatory for Management Companies Barometer

The observatory uses figures from a sample of 125 Luxembourg management companies to reveal key trends in the industry.


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We’re proud to share that we’ve been listed in PwC’s Observatory for Management Companies 2024 Barometer and that we’ve come out even better than before. This year we’ve seen another jump in our rankings with the highest AUM progression (25%) in both Top 10 Luxembourg AIFMs and Top 10 Third Party ManCos.

We’re particularly pleased that to be listed as the only company with true Luxembourgish origins.

Alter Domus is proud to have moved up in the following rankings:

Top 10 Luxembourg AIFMs as of 31/12/2023:

Moving from 7th to 6th  with the highest AUM progression of 25%

Top 10 Third Party ManCos as of 31/12/2023:

Moving from 8th to 7th also with the highest AUM progression of 25%

A rise of 3 places since 2021!

With 5, 000 professionals in 23 jurisdictions speaking 51 languages and having invested €103m in tech development and M&A, Alter Domus are unrivalled in our ability to provide end-to-end support for clients launching, managing and administrating regulated and unregulated investment vehicles.  We offer our third-party AIFM Services in both Luxembourg and Ireland. To find out more about how we can support you in the alternatives space, please get in touch.

Key contacts

Alain Delobbe

Alain Delobbe

Luxembourg

Head of Management Company Luxembourg

Insights

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AnalysisJune 6, 2024

The real state of real estate: deal volume, fundraising, and usage patterns 

Location in London
EventsJune 25, 2024

AREF Conference 2024

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EventsJune 27-28, 2024

The Drawdown Operational Leaders’ Summit 2024

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AREF Conference 2024


Join Sam Wade, Tim Trott, and Karen Race at the AREF annual conference 2024 this June 25th. We are looking forward to connecting with peers and engaging conversations with the positive changes in the real estate funds industry. #AREFConf24

Key contacts

Sam Wade

Sam Wade

United Kingdom

Associate Director, Sales & Relationship Management

Tim Trott

Tim Trott

United Kingdom

Director – Head of Corporate Services – United Kingdom

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Join Catherine Kavanagh, Andy Clark, and Patrick McCullagh at the Drawdown Operational Leaders’ Summit 2024. We are proud to be a sponsor of this event that dives into the insights of senior professionals in the private markets. Patrick will be moderating the panel: technology and private capital creating a holistic digital infrastructure.

Key contacts

Andy Clark

Andy Clark

United Kingdom

Director, Sales & Relationship Management

Patrick McCullagh

Patrick McCullagh

United Kingdom

Managing Director, Sales, Europe & United States

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IMN’s 24th Annual U.S. Real Estate Opportunity & Private Fund Investing Forum


Alter Domus’ Ned Siegel, Michael Dombai, and Lizzie Heil will be at IMN’s 24th Annual U.S. Real Estate Opportunity & Private Fund Investing Forum this June 19-21 in Newport.

Join Michael as he will be speaking on the Fund Admin & Reporting Eye Openers & Surprises and Transitioning From an Emerging to an Established Fund Manager sessions. We can’t wait to connect with you there and discuss more about the CRE industry.

Key contacts

Michael Dombai

Michael Dombai

United States

Managing Director, Sales, North America

Ned Siegel

Ned Siegel

United States

Managing Director, Sales and Relationship Management, Private Equity

Lizzie Heil

Lizzie Heil

North America

Managing Director, North America

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Insight

A supportive function

Chief Commercial Officer, Alex Traub spoke to The Drawdown this month about the value of bespoke investor administrative operations as the private equity industry grows and matures, and in response to increased operational, regulatory and reporting demands. For those with leaner back-office teams, the twin challenges of global increased compliance and reporting requirements, alongside increasingly diverse investor bases are applying a further strain.

At Alter Domus, we specialize in best of class fund accounting, reporting, regulatory expertise, and technology platforms. By working with us, asset managers can reduce their burden while ensuring their obligations are addressed efficiently and effectively. Reach out to Alex to hear more.


technology data on screen pencil in hand scaled

As the private equity industry has grown and matured, so have the operational, regulatory and reporting demands on the asset class. This has been particularly challenging for those managers with leaner back-office teams, who have had to focus resources on the core business of finding and backing great businesses and management teams. This model, which has served managers so well for so long, is now pushing against its limits.

On the regulatory front, US managers are bracing for the implementation of new SEC rules that will oblige managers to produce audit and quarterly performance reports and provide more detailed disclosure on fund expenses. In Europe, meanwhile, managers are readying for the rollout of the next version of the AIFMD II in 2026, which will add to compliance disclosure and reporting requirements. In addition to a higher volume of regulatory disclosure, managers are also navigating the complexities of working with an increasingly international and diverse investor base and the accompanying increase in requests for bespoke, tailored investor reporting. For managers with the scale to invest in large back-office infrastructure adapting to higher disclosure and reporting volumes has been manageable. For other managers, however, existing operating models simply cannot ramp in the same way.

Fund administrators: key partners for long-term success
As private equity evolves, regulation increases and investors become more sophisticated, certain fund services providers are emerging as key partners in the midmarket and will have a crucial role to play in the sector’s long-term success. Rather than facing a scenario where €10-15m of capital expenditure has to be ploughed into upgrading the back-office capacity – at the expense of the core front-office functions of deal sourcing and execution – smaller managers can turn to fund administration partners to support their back-office obligations and free-up resources to focus on transactions and value creation.


Fund administrators, working with hundreds of managers across multiple jurisdictions, have the economies of scale and operational synergies to invest in fund accounting and reporting, regulatory expertise and technology platforms at levels that would be impossible for a single manager trying to carry the load in isolation. Outsourcing back-office functions to regulatory and reporting experts, who have the technology and human capital to handle more complex and intense workflows, gives managers the comfort that their obligations to investors and regulators are being addressed by expert service providers that know the market and have the muscle to scale-up capacity to meet intensifying back-office demands.

Enhancing technology capability is an example of how fund administrators are adding value for clients. In addition to opening access to best-of-breed industry software offerings and realistic price points, fund services partners also have the size and resources to build and maintain proprietary technology that can help clients to operate more efficiently. Alter Domus’ Digital Workflows Application, which uses AI and automation technology to handle the increasing volume and complexity of reporting and transaction flow, for example, is available to clients and can help managers to secure significant operational efficiencies.

Opportunities emerge from challenges
Partnering with a fund services provider to boost back-office bandwidth is not only a defensive play for managers. Harnessing a fund administrator’s service capability can help to unlock new sources of liquidity and new investor bases.


With liquidity for example, a slowdown in exit volumes in the face of higher interest rates has seen managers explore continuation fund vehicles as an alternative exit route to secondary buyouts, as well as trade sales and IPOs, to realize distributions for investors. Fund administrators can help managers to undertake continuation fund deals more frequently and in higher volumes. In addition to complex deal execution and organization, continuation fund vehicles also require ongoing administration and reporting.

Fund administrators can scale-up support to assist managers, as continuation fund deals are secured without placing the additional demand of back-offices. The back-office heft of a fund services partner also opens up pathways into non-institutional investor bases. The administrative demands of raising capital from individual investors – typically through private wealth feeder funds, or semi-liquid funds and open-ended structures, such as Europe’s emerging ELTIF regime – can be a non-starter for managers with small back-office teams. These structures require more regular reporting of portfolio NAV and the capacity to provide liquidity for capped redemptions during fixed windows. Client onboarding and compliance volumes also ramp up significantly when capital is raised from large numbers of non-institutional clients rather than the limited groups of institutional investors that are the norm in closed-ended private equity funds.


Managers can turn to fund administrators that are already operating at scale to digest the additional know-your-client, cashflow monitoring and reporting workflows that come with raising capital from
non-institutional channels.


Partners for the long-term
Shifts in what investors and regulators expect from private equity managers, the types of investors
managers are raising capital from, and the exit pathways available in a more sophisticated market, are reshaping how the asset class is thinking about its back-office requirements. This transformation is particularly challenging for smaller players, but through long-term partnerships with fund administration experts, managers can share the administrative load of operating in a more mature industry and stay focused on what they do best.

Insights

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NewsJune 17, 2024

Alter Domus rises again in PwC’s 2024 Observatory for Management Companies Barometer

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The real state of real estate: deal volume, fundraising, and usage patterns 

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Insight

Navigating retailization’s back-office challenges

Chief Operating Officer, Mike Janiszewski spoke to PEI Fund Services report about the value of outsourcing administrative functions to respond to the increased market demand from individual investors. Get in touch to partner with a proven third-party provider to harness this potential.


Technology data on screen plus fountain pen and notepad

Mike Janiszewski, Chief Operating Officer, spoke to PEI Fund Services report about the value of outsourcing administrative functions to respond to the increased market demand from individual investors. With about half of global assets under management (AUM) held by individuals, private fund managers are keen to tap into this vast potential. Large asset managers, like Blackstone, have ambitious goals for increasing their retail capital offer. However, accommodating individual investors in alternatives, presents significant complexity- complicated structures, dealing with varying regulations, individual tax burdens and increasing back-office administration.

Mike opined that “Taking on investment from private wealth investors will require a step-change in middle- and back-office infrastructure” Private markets have responded to this already and multiple investment structures are being adopted to accommodate the differing needs of individual investors, as well as new distribution channels and digital platforms. At AD, we have been specializing in this for the past 20 years; delivering for our clients via a combination of jurisdictional, technological and administrative expertise.

Ultimately, leveraging technology for automation and data streamlining must come alongside partnership with third-party providers who can harness new tools for great success. Reach out to to find out more.

Insights

architecture bridge traffic
NewsJune 17, 2024

Alter Domus rises again in PwC’s 2024 Observatory for Management Companies Barometer

architecture Manhattan building
AnalysisJune 6, 2024

The real state of real estate: deal volume, fundraising, and usage patterns 

Location in London
EventsJune 25, 2024

AREF Conference 2024

Conference

ALTSHK


We are delighted to sponsor the ALTSHK forum this year in Hong Kong on June 13th. Join Jamie Loke at this investor-centered, education-focused forum from all sectors of the alternative investment sector.

Key contacts

Jamie Loke

Jamie Loke

Singapore

Head of Sales and Relationship Management, SEA

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Private Funds CFO Network Chicago Roundup


David Traverso and TJ Veneris are looking forward to networking and discussing what matters in private equity and venture capital at the PEI Private Funds CFO Network Chicago Roundup this June 6. Reach out via the contact below.

Key contacts

David Traverso

David Traverso

North America

Managing Director, Sales at Alter Domus North America

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Global ABS 2024


Alter Domus are looking forward to attending the Global ABS in Barcelona this June, 4-6. This conference is a great opportunity to connect within the structured finance community, gain market insights and make deals.

Be on the lookout for our US team Tim Ruxton, Tom Gandolfo and Lora Peloquin as well members of our European team Juliana Ritchie, Amit Varma, Steve Baxter and James McEvoy.

Key contacts

Tim Ruxton

Tim Ruxton

United States

Managing Director, Sales, North America

Juliana Ritchie

Juliana Ritchie

United Kingdom

Head of Sales & Relationship Management, Debt Capital Markets, Europe

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NAREIM Portfolio Manager Meeting


Key contacts

Benay Kirk

Benay Kirk

United States

Managing Director, Real Estate, North America

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