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Eze Software simplifies private equity accounting

Eze Software Group has rolled out a series of enhancements to its back-office operations workflows for private equity funds, simplifying a series of complex tasks to a single click.

Eze Investor Accounting (formerly known as Penny-It-Works) handles partnership and investor accounting for some of the largest hedge funds and their administrators.
It is now extending its reach into private equity by automating some PE-specific complex processes, such as waterfall schedules, with its v12.3 release.
“Institutional investors are demanding more concessions from private equity firms, thus making already complex waterfalls more elaborate. The new version of Eze Investor Accounting enhances market-leading technology to handle these new nuances without sacrificing ease of use,” says Ron Kashden, managing director, Eze Investor Accounting.
Enhancements to Eze Investor Accounting include simplified distributions according to a waterfall schedule. Users now can enter the total, or deal-by-deal distribution for the fund, and the system will allocate the amounts based upon the waterfall as well as determine the hypothetical liquidation—all of which is available for reporting on statements or internal reports.
In addition, Waterfall details are now available on customisable partner statements, while management calls for capital can now be excluded from the unfunded balance, simplifying unfunded balance calculations, and calculation of interest for preferred return tiers has also been simplified. Funds can now manage the waterfall definition to determine whether the interest should stop once capital is returned. Likewise, the waterfall definition can be changed to compound interest annually.
Enhanced intelligence for follow-on commitments.
Eze Investor Accounting is the new name of TKS Solutions’ Penny-It-Works shareholder and limited partner accounting application, which joined Eze Software Investment Suite after a merger in late 2015. 

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