Integrated solutions provider Alter Domus has made substantial investments in its central operations as it looks to enhance its European service offering.
As part of the initiative, Alter Domus plans to build its technology capability, expand its European footprint, and continue to recruit specialised, multilingual talent to support the company in providing corporate and fund services to investors and managers in private equity, real assets, and debt capital markets.
A huge part of Alter Domus’ €50 million capital investment is focused on technology. The firm is looking to improve software development, network and infrastructure, security and systems engineering, and quality assurance.
The move follows the rollout of CorPro, its new client-facing technology, through which it claims to digitise investors’ and managers’ traditional workflows to significantly improve access to data and achieve efficiencies across different geographies, funds, and product types.
Alter Domus’ CorPro technology was enhanced with the acquisition of Credit-Vision, a London-based SaaS platform which was vertically integrated into Alter Domus’ technology offering this year.
Alongside technological improvements, Alter Domus has expanded its European footprint by opening in Lithuania – following an expansion of its Irish operations in 2021. It now benefits from operations centres in Cork, Vilnius, and Malta that house central operations, technology and HR.
In addition, Luxembourg continues to play a key role in knowledge-sharing to Alter Domus’ new operations centres.
Over the last year, Alter Domus has hired over 200 new employees in Ireland and Lithuania alone.
To scale across Europe, the firm is looking to hire an additional 270 technology, accounting, legal, compliance and tax specialists in Luxembourg, Cork and Vilnius next year.
Alter Domus said in a statement that this will support the company in capturing the growing demand for incremental outsourcing as global alternatives investment managers in North America and Asia – who have an estimated $2.5 trillion in dry powder to deploy – increasingly look to Europe to launch and manage new funds.
In addition to hiring new talent, Alter Domus’ proprietary programme, The acADemy, looks to enhance existing employees’ technical, professional and leadership skills. The programme has seen 1,800 employees across 13 European locations benefit from over 30,000 hours of training delivery.
“In a year when Alter Domus has topped $1 trillion in assets under administration, we have in place the strongest technological capabilities and expanded our talented central operations team to support our clients and the rising complexity of their assets,” said Sandra Legrand, regional executive for Europe at Alter Domus.
“Our technology investment programme is strengthening our ability to help alternatives investors and managers grapple with a data deluge. Our technology is optimising managers fund and portfolio performance when they’re raising, managing, and deploying funds, and reporting this all back to their end-investors to overcome the intricate web of regulatory and compliance requirements.”