The Gemini Companies (Gemini) (now Ultimus Fund Solutions) today announced that the organization has experienced double digit growth of new private equity (PE) fund clients to date for 2018.
“The growth potential for PE funds has no ceiling. In a competitive marketplace, the ability to adapt to investor demands is key. We strive to deliver to our clients cost-effective, data-driven insights, with a level of transparency that serves as an operational differentiator for us,” said Dominique Severino from Orthogon Partners, one of Gemini’s recently launched PE funds. “Gemini has partnered with us to provide the information, efficiently and securely, which is critical to our investors.”
When surveyed, Gemini’s PE fund manager clients stated that outsourcing private equity fund administration provides them important expertise to manage growing regulatory pressures and deliver the unique reporting, communications, and capital calls/distribution their funds require. These managers noted that they selected as their partner based on the organization’s ability to deliver accurate and timely reporting, third-party validation of AUM and NAV, and greater portfolio transparency, which meets the needs of today’s PE investor demands.
Other elements of Gemini’s offering that they valued included:
- Robust reporting to respond to new U.S. tax laws
- Optimal data connectivity for better insights and execution
- Access to a team of professionals that can be leveraged as an extension of their core team
- Streamlined operations resulting in ease of workload
- Cost savings that impact their bottom line and flow thru to their fund clients
“Gemini has extensive experience in the private equity space and we understand these funds’ complexities and need for sophisticated, customizable, and flexible portfolio accounting, partnership accounting, and investor reporting options,” said David Young, Gemini’s President of Hedge/Alternative Fund Solutions. “We continue to invest in technology to refine our fully-integrated platform in order to provide PE funds solutions specific to their own unique set of services and deliverables.”
Gemini CEO Kevin Hesselbirg added, “We are thrilled by the success in the PE area and our offering, which supports a firm’s finite life cycles, closed-end structures, limited partnership structures, and investments in alternative asset portfolios. As a direct result of this, we are delighted to add another seasoned professional to our organization, knowing that our clients will benefit from Joseph’s 25+ years of experience with major asset management organizations. I’m expecting he will help elevate Gemini to the next level of our growth trajectory.”
7688 GFS 5/16/2018