PEF Services has won a mandate from Puerto Rican private equity firm, Parliament Capital Management, to provide fund administration.
In a statement, one of the managing partners at Parliament Capital Management commended the service provider’s “extensive experience in working with debt funds”.
The private equity administration specialist has secured a range of deals over the past two years as the trend of outsourcing continues to gain traction among its prospective client base.
The administrator was subsequently shortlisted for Global Custodian’s Fund Administration: One to Watch honour at its New York awards ceremony in November 2019.
“We are delighted that Parliament Capital Management chose to outsource fund administration to PEF and look forward to supporting their endeavors to achieve greater efficiencies while focusing on growth initiatives,” said Hank Boggio, senior managing director and chief revenue officer of PEF Services.
At the end of 2019, PEF Services launched a new investor portal in response to private equity firms demanding more transparency from their service providers.
The private equity fund administrator introduced the new proprietary portal, ViewPoint, to give its clients access to self-service performance reporting, data visualisation and access to underlying data.
As private markets mature as a wider-adopted asset class, so are investor expectations, particularly around reporting and transparency.