The Gemini Companies (Gemini) 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.”
As a direct result of new PE fund launches and the surge in Gemini’s hedge and alternative fund assets under administration, Gemini has hired industry veteran Joseph Saldana as Chief Operations Officer. In this role, Mr. Saldana will be actively involved in recommending and implementing operational process enhancements throughout the organization. Mr. Saldana has extensive knowledge of Credit strategies and PE, and vast professional experience in operations, compliance, and administration in senior roles at Pinnacle Advisory Group, Deutsche Bank, Lehman Brothers, Cru Capital Management, FTA Partners, and C Change Investments. He will apply his experience to Gemini’s operations in order to help Gemini scale its business to support their clients’ growth.
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.”
To learn more:
DOWNLOAD: Factors to consider when Outsourcing your PE Fund Services
About Gemini: Since 1983, Gemini has been providing our partners an ever-expanding suite of services for their investment products, such as modern investor servicing tools, portfolio administration and accounting, comprehensive compliance programs, and guidance on regulations, auditing, and distribution. Gemini’s consultative approach and culture of service helps managers and investors navigate and flourish in today’s increasingly sophisticated and dynamic investment landscape.
Gemini provides a single, integrated solution that supports the launching and servicing of mutual funds, hedge funds, ETFs, private equity funds, variable annuity trusts, and state-sponsored 529 plans. We also offer customized structures designed to support the unique needs of pensions, endowments, and foundations.
Gemini is a subsidiary of NorthStar Financial Services Group, LLC, which has over 875 employees and over $777 billion in assets under management and administration as of February 28, 2018. For more information, please visit www.thegeminicompanies.com.
7688 GFS 5/16/2018