Alter Domus is expanding its services to support the launch and ongoing administration of open-ended private market funds and closed-ended private market funds with liquidity management features, including European Long-term Investment Funds (ELTIFs).
Alter Domus, which provides tech-enabled fund administration, private debt, and corporate services for the alternative investment industry, believes an increase in retail demand for non-traditional assets, as well as regulatory changes in the EU, US, and UK to broaden access to private market investments, is enabling the democratisation of alternative funds. This, in turn, is driving significant demand for capabilities to manage open-ended funds among its clientbase, which include 90% of the top 30 alternative investment managers.
The new open-ended fund solution expands the capacity of Alter Domus’ fund administration suite, which includes fund formation, investor and transfer agency services, investor and regulatory reporting, fund accounting, cash management, capital administration and tax services.
Key features and functionality include: the ability to support increased frequency of net asset value (NAV) calculation and more streamlined settlement processes; increased connectivity to distribution networks for settlement of trades and more responsive functionality to handle more complex distribution channels, such as individual investors and wealth advisers; enhanced investor and regulatory reporting to account for increased volume of liquidity events.
For Luxembourg-based funds, Alter Domus provides direct support as a registered transfer agent (TA). For North American and UK-based funds, Alter Domus works in partnership with leading TA systems.
The new capabilities will be supported in part by a partnership with Temenos Multifonds, featuring a platform that integrates SWIFT and NSCC counterparties to find new efficiencies and reduce risk to support retail-style scale and volume, and facilitate open-ended fund liquidity management via a suite of tools.