Improving Operations by Creating Back-Office Efficiencies
Our client, a spin off of a well established management company with more than $24 billion in assets under management sponsors several products with approximately $1.8 billion in assets under management. The products are multi-strategy master feeder and stand-alone funds with multiple side-pockets that invest in multi-currency bonds, bank debt, mezzanine debt, trade claims, asset backed securities, limited partnerships, equities, options, forwards, total return, and credit default swaps.
They were intent on improving operational efficiencies and were in need of customizable reporting specifically related to risk-management oversight, performance measurement, and investor servicing. In addition, the manager was looking for support of their management company and general partnerships’ books, records, and tax reporting needs.
To develop our client’s service plan, our executive management team worked with them to:
- Design, update, and communicate their service plan which included 24 hour, seven days per week support.
- Identify operational and reporting needs on an ongoing basis and proactively work with independent auditors, tax accountants, fund and investment legal counsel, and valuation agents to ensure their needs were properly met.
- Develop reports, interfaces, and a centralized branded secure web portal for investor, accounting, audit, legal, compliance, and tax reports that investors, the manager, and other parties could view and retrieve information from.
- Consult with our client on their operational risks and changes to investment strategies.
We developed a highly tenured service team for our client with specific investment expertise in structured finance investment strategies and corporate accounting for their management company. We supplemented the team with experts in other complicated investments such as film financing companies and life settlement programs as these types of investment were added to their portfolio.
In addition to a host of daily reconciliation and risk management reports, a highly custom reporting package was developed and distributed monthly to increase transparency of the accounting information. Their accounting reporting package was made available within two to five hours of receiving final pricing, regardless of when the pricing was received, and used as interim financial statements and a turn-key audit package at year-end.
By customizing our client’s process flow and service plan, we were able to deliver 100 percent of all their accounting, financial statement, tax, and investor reporting for the last seven years within or better than the client’s expectations and reporting timeline.