French venture capital firm France Active has moved away from spreadsheets and manual processes and will automate its investment accounting operations as well as centralize its accounting book of record via a Clearwater Analytics platform. Based in Montreuil, France, France Active, founded in 1988, is a nonprofit that invests in “socially committed” French companies such… Read More >>
Hudson Bay Capital Management Taps SS&C GlobeOp
Hudson Bay Capital Management has tapped SS&C GlobeOp to be its fund administrator, which is in addition to the multi-strategy investment firm’s usage of trade operations and investor support solutions from SS&C Technologies, officials say. Hudson Bay, which is headquartered in Greenwich, Conn., picked SS&C “after a thorough evaluation process,” according to the official announcement…. Read More >>
Emerging PE Firms Must Bolster Ops IT: Survey
Emerging managers in the private equity space are facing the tightly related challenges of having to increase their allocation to private debt and private equity over the next 12 months while also bolstering their operational technology to meet the transparency and reporting demands of limited partners (LPs). This is the topline result of a survey… Read More >>
The SEC Wants More Reporting via Form PF
A regulatory change of importance got lost in the avalanche of news that we deal with every day — the SEC is adopting amendments to Form PF, the confidential reporting form launched 12 years ago for hedge funds and private equity funds. “Currently, advisers to private funds file Form PF on a quarterly or annual… Read More >>
USAA Outsources Fund Accounting to SS&C & Other News
USAA to Shift 60 Staff Members to SS&C GlobeOp SS&C Technologies Holdings, Inc. reports that it has entered into an “outsourced administration arrangement with USAA Real Estate.” Based in San Antonio, Texas, USAA Real Estate acquires, develops, finances, and manages real estate assets in North America and Europe, and manages approximately $35 billion in net… Read More >>
OCIE Warns Private Funds Against Conflicts, Hidden Fees
A recent Risk Alert issued by the SEC’s Office of Compliance Inspections and Examinations (OCIE) has found “deficiencies” and possible conflicts of interest in the actions of private equity and hedge fund advisors that might have “caused investors in private funds … to pay more in fees and expenses than they should have or resulted… Read More >>
Regulators Move to Refine Volcker Rule Requirements
Federal regulators overseeing financial markets are taking major steps to refine the Dodd-Frank Act’s Volcker Rule restricting proprietary trading so that it has a narrower focus. Since the recovery from the Great Recession, the rule, inspired by Paul Volcker, the former chairman of the U.S. Federal Reserve, has held back banks from proprietary trading and… Read More >>
Private Equity Firms Beset by IT Woes: SunGard Report
The private equity industry sees some bright spots in its future, but higher-ups are clear-eyed about the difficulties “mounting pressure on fees, costs and the amount of information provided,” might pose going forward, according to a new survey out by financial software and systems vendor SunGard. The report, “Global Private Equity Report 2015: Insights, Relationships… Read More >>
Q&A: ‘The PDF Report is Dead for Private Equity’
Editor’s Note: FTF News spoke this week with Brendan Tyne, managing director, New York, of Augentius (U.S.) Inc., a private equity fund administrator, about the changing operational data demands of the private equity business. The new data demands are causing Tyne to declare that the era of the PDF is dead. Q: How certain are… Read More >>
Q&A with UBS: ‘Things are moving beyond Excel’
Mike Dickey, director, product deployment, UBS Fund Services, spoke to FTF News about UBS Fund Services’ recent news that it has deployed SunGard’s Investran Insight. The installation will yield a portal that integrates the client web portal, dubbed the UBS Fund Services Online. In addition, UBS clients and their limited partners will have access to… Read More >>
