Funds Industry Report - Flipbook - Page 17
Karen Malone Centaur Fund Services
Karen Malone
Founding Partner
Centaur Fund Services
Centaur Fund Services: Centaur is a leading
independent fund administrator with ofces in
the United States, Canada, Bermuda, Cayman,
Luxembourg, the U.K and Ireland. Centaur
delivers independent fund administration and
regulatory services globally to the alternative
investment fund industry, focusing on hedge
funds, private equity and real estate funds,
family ofces and ILS funds.
For more information, visit www.centaurfs.com.
Why Private Equity Funds Are
Turning To Administrators
without doubt the fastest growing area of our
business is private equity. All indications show
that the level of growth for private equity will
Fund administration has become a major con-
continue to be steep into the future. Over the
sideration for many private equity (“PE”) funds
past decade we have seen a huge increase in
who have come to realize the benets of
demand for our PE fund services.
outsourcing this function to specialist third
parties. Beyond the obvious savings for the PE
Technology Is A Game-Changer
rm, this trend has been driven by investors
who are demanding greater efciencies, more
Most private equity funds realize at this stage
transparency and better reporting.
that the Excel spreadsheet is no longer suf-
New regulations such as ILP 2.0 have further
cient when it comes to their reporting require-
driven the demand as PE rms are increasingly
ments. Reporting risk is a real concern and Gen-
having
reporting
eral Partners are growing more serious about
demands and operational risk as a result of
offering the long-term reliability and audit trail
greater regulation. Delegating these functions
that is provided by third party administrators.
to an external provider with specialist skills
Beyond security, private equity structures have
enables fund managers to focus on their
become increasingly complex and basic spread-
investments and generating returns.
sheet-based tools no longer full the increasing
At Centaur, we can see rst-hand the huge
need for accurate and timely reporting. As
growth of PE funds moving to an out-sourced
investors become ever more sophisticated, they
administration model. This year we are cele-
are also requiring real-time access through
brating ten years in fund administration and
portals where they can drill down into data at
to
deal
with
growing
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