Blogs

Interval and Tender Offer funds provide investors an opportunity to gain exposure to alternative investment strategies that have been traditionally offered through private fund vehicles. Many of these strategies involve investing in assets that are considered illiquid. If you are a fund sponsor who is considering launching an Interval or Tender Offer fund, understanding how to establish a valuation policy for illiquid assets will be a key area of focus for you.

Investor Services is a specialized functional area which integrates the field of accounting, communication, and administration to successfully manage the flow of information between a private equity firm, its investors, and other stakeholders such as the general partners.

With the topic posed as a question, not a statement, the panel examined the current and future states for outsourcing key back-office functions. We share some of their insights here, broadening the aperture to all private funds.

While the ETF asset pool continues to grow (topping $7 trillion in the U.S. in 2021)1, advisers are also seeing increases in assets raised via Separately Managed Accounts (SMAs). With gross assets at $54 trillion in North America2 – ballooning SMAs have reached asset levels not seen since before the financial crisis. Investors are clearly noticing some of the advantages to these types of accounts. They receive customized strategies, often get a high level of personal attention from their money managers and have the ability to see all of their specific holdings in one statement.

Over the past two years, fund managers have been tasked with finding ways to gain efficiencies and scalability not only in their fund administration management responsibilities but also in their underlying management company operations.

Over the past 10 years the number of Exchange Traded Funds (ETFs) has more than doubled and in that same time period1, assets in exchange traded funds have increased by nearly seven times2. Statistically speaking it appears that now is the optimal time to introduce exchange traded funds – and to be sure there are a number of advantages.