Maples Group extends middle-office services to philanthropic Leon Levy Foundation

Fund administrator responds to foundation’s decision to evaluate its operational platform and tailors offering accordingly.

By Jonathan Watkins

The Maples Group has extended some of its middle-office services for a $450 million private philanthropic foundation created in 2004 from the estate of Wall Street investor Leon Levy. 

The Leon Levy Foundation’s mission is to support development in six key areas, which include understanding the ancient world, arts and humanities, preservation of nature and gardens, neuroscience research, human rights and Jewish culture. 

Over the course of 2020, Maples Group has recommended a range of new analytics and reporting and has tailored an operational and technology platform for the foundation accordingly. 

This has included incorporating additional processes into the platform such as portfolio audit support as well as enhanced reporting of performance and risk to help navigate the changing investment landscape due to the impact of COVID-19.   

Maples said the approach has enabled the Leon Levy Foundation to outsource the maintenance of the foundation’s portfolio books and records across a broad array of asset classes.  

In addition, it has allowed the Leon Levy Foundation to analyse its investments in a timely manner while better understanding the strategies to which it has allocated capital.  

The fund administrator claims that, with this information, the foundation and its board have been able to pursue a more transparent and informed investment decision-making process, ensuring it is well-positioned to meet its ongoing philanthropic and operational commitments. 

“The Maples Group is one of the most knowledgeable, approachable and innovative service providers we have worked with and has truly embraced its role as our partner,” said Rob Goldrichpresident and chief financial officer of the Leon Levy Foundation. “They have a deep understanding and appreciation of our needs and the nuances of our operations and has become a seamless extension of our team.”  

Maples scooped two awards at Global Custodian’s most recent Industry Leaders awards, for technology and middle-office services in private equity administration and hedge fund administration, respectively.

“Through a consultative approach and commitment to developing customised solutions, we have developed a proven platform that has enhanced the operational infrastructure of some of the world’s leading foundations, endowments, pension funds, family offices and OCIOs,” said Mark Weir, deputy global head of fund services for the Maples Group.

“We are proud to work with the Leon Levy Foundation and look forward to further evolving our relationship and ensuring they have the operational and technological support they need to continue their important philanthropic efforts.”