Luxembourg and New York, January 23, 2024 – Alter Domus, a leading provider of tech-enabled fund administration, private debt, and corporate services for the alternative investment industry, today unveiled the creation of its Key Client Partnerships (KCP) practice to help private markets firms scale their middle- and back-office infrastructure to meet increasing investor demands and mounting complexity. This creation comes as a natural consequence of the firm’s 20-year track record of building long-lasting relationships with major private markets firms.
As the pace of growth in the private markets continues to increase, so too has technology, regulatory and investor reporting requirements. In response, Alter Domus’ KCP practice aims to meet private markets firms’ need for dedicated support on defining and implementing new target operating models to support their future growth and scalability.
The Key Client Partnerships approach is centered on investing in long-term relationships with clients that covers everything from migrating products from one platform to another, to handling all outsourcing and technology interfacing, to managing all the governance and risk mitigation aspects of team and technology transitions.
Depending on their strategic priorities, joint operating models are built on one of three broad operational foundations:
- Co-sourced: Alter Domus’ expert administration team continues to use a client’s technology, processes and data infrastructure. The benefits of this model include Alter Domus managing HR responsibilities for the client’s team, no disruptions from the client’s current model, and retention of any bespoke technology platform developments.
- Managed service: An expert team actively manages a client’s technology and processes, while the client controls its data infrastructure. The advantages of this model include access to Alter Domus’ deep administration, technology and process expertise, its absorption of technology costs, and retention of bespoke data interfaces and developments on behalf of the client, as well as Alter Domus’ ongoing investments in technology platform upgrading and innovation.
- Out-sourced: Alter Domus experts handle every aspect of a client’s administration needs, including technology and data infrastructure. Information is delivered through Alter Domus’ client portal, CorPro, or direct API connectivity. Alter Domus absorbs data and infrastructure costs and provides the client with full access to its industry-leading platforms, servicing and technology developments and innovation.
In addition, Alter Domus’ KCP team will support its clients in building the relevant financial model for the partnership, and lead the transition to the target operating model.
Alter Domus head of Key Client Partnerships Steve Krieger, said: “The focus of clients is investment management – raising money, deploying capital, managing risks – not fund servicing, accounting and compliance. Our new practice responds to private markets managers’ growing requirement for hands-on support on how to renew entire operating models that are no longer fit for purpose. Supported by our decades of administration expertise and industry-leading technology, fund managers can now partner with a dedicated team of Alter Domus experts to ‘co-create’ global operating models customized to their specific priorities.”
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