AST Private Company Solutions partners with Standish Management
AST Private Company Solutions has formed a strategic partnership with Standish Management, a leading private equity fund administration provider to private equity with over USD130 billion in AUM.
Users of PCS’s Astrella capitalisation (cap) table and ownership tracking platform will be able to integrate relevant ownership data from Astrella to Standish. Standish will use this data to support limited partner (LP) financial reporting and communications, capital calls and distributions and partnership accounting.
Astrella was built by AST PCS, the Silicon Valley-based business unit of ownership data management leader AST, as a new cloud-based software-as-a-service (SaaS) platform to manage private company ownership data. The solution brings together private blockchain technology, artificial intelligence (AI) and predictive analytics and includes an API ecosystem readymade to allow seamless integration with established leaders like Standish, which now supports over 1800 funds in the US and Europe.
Launched this spring, Astrella has developed a strong roster of premier technology and service partners covering a wide range of related private shareholder requirements, all with the objective of providing rapid data access, efficient workflow and the best possible end-to-end user experience and now includes clients from the US, Canada, Australia, New Zealand and The Netherlands.
“In many ways Standish and AST PCS are kindred spirits, as our company grew out of a clear and growing need for the private equity market at a time of great change. Astrella is set to do the same today,” Standish Management CEO Bob Raynard says. “Today, LPs are more diverse, dispersed and invested in different private equity arrangements than ever before, and it is crucial they have effective technology enabling fund performance reporting and accounting. They don’t want to be calling CFOs at portfolio companies to receive out-of-date cap table data via email. They want the data available to them whenever they need it. Astrella will form the bridge between companies on its system and our clients, creating efficiencies and accuracy in reporting benefiting the entire private equity ecosystem.”
AST PCS President Carine Schneider adds: “Standish Management is truly a model for solving some of private equity’s trickiest administration challenges, and we are excited to announce this partnership with their firm. In many ways, our work building Astrella was meant for exactly this kind of relationship. Working closely with Bob and his team, including his service on our Advisory Council, has driven our team to build an innovative solution. We expect this to be a fruitful integration going forward.”