The Gemini Companies (Gemini) 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,” says 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 Gemini as their partner based on the organisation’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.
“Gemini has extensive experience in the private equity space and we understand these funds’ complexities and need for sophisticated, customisable, and flexible portfolio accounting, partnership accounting, and investor reporting options,” says 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 organisation. 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, says: “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 organisation, knowing that our clients will benefit from Joseph’s 25 plus years of experience with major asset management organisations. I’m expecting he will help elevate Gemini to the next level of our growth trajectory.”
