CSC, a provider of business, legal, tax, and digital brand services, has acquired PEF Services LLC (PEF), a leading provider of technology-enabled fund administration services to private capital firms and their investors, including private equity, private debt, venture capital and US-based small business investment companies (SBICs).
This strategic acquisition greatly accelerates CSC’s fund services growth plans in the US, adding expertise and a robust technology platform to CSC’s increasingly sophisticated solutions. The deal underscores CSC’s commitment to the growing private capital fund administration market and builds upon CSC’s other recent expansion efforts in the US, Europe, and Asia.
“We’re very excited to welcome Anne Anquillare and the entire PEF team to CSC,” says CSC Executive Vice President John Hebert. “Their deep expertise in fund administration complements our existing capabilities, while their commitment to service excellence aligns well with our company culture.”
US-based PEF was founded in 2002 to support the unique compliance and reporting needs of SBICs. As federally licensed entities, these alternative investment vehicles have requirements that other service firms struggle to meet. PEF’s success in managing these intricate requirements allowed it to expand easily to include all types of illiquid alternative asset firms, especially those with customised needs, which aligns nicely with CSC’s passion for complex structures. PEF’s deep understanding of the complexities and customer needs in the illiquid alternative asset class has resulted in its reputation for thought leadership. CSC’s acquisition of PEF Services furthers CSC’s unwavering commitment to alternative asset managers and their investors.
In addition to PEF’s client services team, CSC will now have access to PEF’s industry-leading ViewPointTM investor and general partner portal. Since its inception, PEF has been at the forefront of fund administration technology, providing their clients a mix of proprietary technologies and industry-standard platforms, resulting in a system that is powerful, flexible, and purpose-built for private capital fund financial reporting, investor communications, and data management.
Anne Anquillare, CFA, chief executive officer and president of PEF, joins CSC as the head of CSC US Fund Services. Beth Manzi, CPA, chief operating officer of PEF, joins CSC to lead U.S. operations for fund administration. Oleg Yablonovskiy, managing director of CSC US Fund Services, will move into a strategic role to drive synergies between the businesses. CSC values that PEF is a woman-led business, and these new roles reinforce CSC’s strong commitment to diversity and inclusion. PEF’s high-quality tenured team of professionals will join CSC immediately as part of the acquisition.
“As market requirements expanded, we searched for the perfect partner to enhance the exceptional fund administration services and technology solutions we provide,” says Anquillare. “CSC already has tremendous resources supporting private capital firms on a global scale and we will be a natural extension of those services. In turn, CSC recognised PEF’s reputation for having one of the most skilled and respected teams in the industry, leading-edge portal technology, and thought leadership in private capital. Both firms share a commitment in supporting private capital firms with excellent customer service, innovative technology, and investing in our people.”
