Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced the addition of private equity administration functionality to its Back Office platform. The private equity capability, available in the latest version of transfer agency software Linedata Mshare, will enable users of Linedata Mshare and Linedata Admin Edge to manage the administration of private equity funds, alongside traditional asset management, hedge funds, partnerships and master feeder structures on a single platform. This is a significant addition to Linedata’s Back Office platform which covers fund accounting, transfer agency and reporting capabilities, with clients in 23 countries across the globe.
Private equity is a significant growth area in the asset management industry, with AUM climbing to a record $3 trillion at the end of 2012. The regulatory changes of the past couple of years have meant that private equity managers are now looking for administrators for their funds, in order to have the proper expertise at hand to ensure compliance.
Equally, as administrators look to attract new clients and broaden their service offering to existing customers, Linedata’s private equity initiative offers the possibility of a single platform across the administration client base, saving time, resources, streamlining their offering and reducing operational risk.
Linedata’s private equity capabilities will comprise the functions required for private equity administration, including capital calls for expenses, capital tracking at asset level, percentage capital calls, transfers between investors/partners and distribution transactions, as well as sophisticated investor reporting. This is in addition to existing extensive shareholder and partnership accounting functionality.
“The addition of private equity capabilities was a natural next step for Linedata Back Office,” comments François Pradel, Product Management Director of Linedata Back Office Asset Management. “We have seen demand in the fund administration marketplace for a comprehensive platform to cover diverse fund structures, and Linedata is uniquely placed to provide the full range of functionality, through the Linedata Back Office offering, with the benefits of proven scalability, systematic control coupled with the complexity and flexibility required to meet the needs of private equity, as well as other alternative and traditional funds, all on a single platform”.