According to annual review published by Augentius Fund Administration, private equity and property fund administrator, 2008 brought rapid growth and geographic diversification in a business which only completed its MBO two years ago.
To date company’s business has grown to over 110 staff (growing by approximately 40% in the last 12 months) and distributed nearly 20,000 quarterly and annual accounts to over 3,750 Investors and Limited Partners during 2008.
In addition Augentius has opened offices in New York, Hong Kong and Singapore during 2008 and has plans for further geographic diversification and growth.
“Our business model was based around the creation and delivery of a quality product,” says David Bailey, managing partner. “All our clients’ Funds are administered on a day to day basis by fully qualified accountants supported by specialised technology.”
“This has proven to be a highly successful model and our business has grown far more quickly than we ever expected. To be named as Private Equity Fund Administrator of the Year was a fantastic reward for all our hard work.”
“The outsourcing of private equity and property fund administration is becoming the norm rather than the exception,” continues David Bailey.
“Investors are demanding more and more detailed information about their investments and without the proper systems and resources it is difficult, time consuming and costly for Fund Managers to meet these LP demands.”
“With GPs having to focus more and more of their time on portfolio issues the outsourcing of the fund administration is becoming an increasingly attractive option.”
“Limited Partners are also becoming much more focused on “back-office” issues,” says J.P. Harrop, managing partner. “We are increasingly seeing Limited Partners carry out formal due diligence on the administration processes prior to committing to a Fund. This is the norm in other investment.”
L.D.