HSBC’s Alternative Fund Services has launched a private equity administration platform.
The new service platform supports partnership administration including calls, closings, incentive and fee calculations, distributions, P&L allocations, financial and management reporting and extensive analytics. It underpins HSBC’s Alternative Fund Services’ focus on tailored single product technology platforms.
Drew Douglas, head of Product Management for HSBC’s Alternative Fund Services commented, “Historically, our group has focused primarily on the development of platforms for the single manager hedge fund strategies and fund of hedge fund managers. Over 2005, we have also focused considerable resources on building a service platform specifically for private equity asset managers and their investors.”
The new system is now live at HSBC operations in Bermuda, San Francisco, Hong Kong and Luxembourg, and will be rolled out in New York, Guernsey and the Isle of Man in the coming months.
Paul Smith, head of HSBC’s Alternative Services commented: “As an asset class that involves investment in primarily unlisted vehicles with a myriad of configurations, private equity managers require a tailored administration offering. The development that we have undertaken is based on the specific requirements of the private equity sector.”