Paul Woods, Regional Executive North America at Alter Domus, said: “Technology lies at the heart of our solutions for clients, and with investors’ growing need for transparency, continued technological innovation is more important than ever. With Gary and his team, we will continue to scale our offering for clients in North America and beyond.” We are pleased to bring on the IEA team and the incredible technology platform they have built and mastered over the years in our third US acquisition in six months. Our unique heritage as a Luxembourg-based fund administrator with more than 50 percent of clients in the US has always been a source of strength for our global client service capabilities. Newbold Partners LLC served as exclusive financial advisor and Ackerman LLP as legal advisor to IEA on its sale to Alter Domus.ĭoug Hart, Group CEO at Alter Domus, said: “North America continues to be one of the strongest growth markets for Alter Domus. Gary Shelto, IEA’s founder, and the IEA team will report to Paul Woods, Regional Executive North America of Alter Domus.Īlter Domus has been supported in this transaction by Clifford Chance as legal advisor, by Crosslake Technologies as technology advisor and by PricewaterhouseCoopers on the financial and tax due diligence. Expanding its global capabilities, Alter Domus last week launched an Alternative Investment Fund Manager (AIFM) and specialized depositary services in Ireland, following the acquisition of Beechbrook Capital’s Irish AIFM.įounded in 2000, IEA is the global leader in providing alternative investment managers with reliable technology solutions for complex capital administration issues including LP waterfalls, GP carried interest allocations and forecasting. In February 2021, Alter Domus acquired Strata Fund Solutions, a leading fund administrator serving US private equity and venture capital funds. In the same month, Alter Domus also acquired IPS Fund Services LLC, a Boston-Based fund administrator serving private equity and venture capital funds. In December 2020, Alter Domus announced the acquisition of UK-based technology platform Credit-Vision Limited, a web-based front and middle office technology platform providing portfolio management and financial analysis to private debt investors and debt capital markets participants. The firm ranks top three largest independent private asset servicers in North America, employing over 900 skilled professionals across offices in Chicago (IL), Darien (CT), Boston (MA), New York (NY), Indianapolis (IN), Brea (CA), Salt Lake City, and Ogden (UT).Īlter Domus is backed by global investment firm Permira. The firm is also increasingly using artificial intelligence and robotic process automation to standardize workflows, provide real-time reporting, and enable better investment decisions.Īlter Domus administers over $1 trillion assets globally and generates close to 40 percent of its revenues from the fast-growing US market.
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With a team of more than 2,500 fund administration and accounting experts and more than 70 software development professionals, Alter Domus leads through technology-driven platforms that can be customized to offer bespoke solutions for private market investors. Technology is the driving force behind the fund administration industry’s ability to innovate and enhance client service. IEA also contributes to strengthening Alter Domus’ Manhattan office and coast-to-coast footprint. IEA’s proprietary technology platforms will offer benefits to all Alter Domus’ clients and significant revenue synergy potential, allowing Alter Domus to offer IEA’s tech-enabled services to the combined global client base. IEA’s proprietary technology platforms, CapAssure and CapAdministration, will complement Alter Domus’ technology stack leveraging industry-leading in-house solutions like CorPro, Agenc圓60, Mailroom and Virtual Back Office, and best-in-class third-party information processing engines like Investran, eFront, Allvue, and Yardi.
This strategic acquisition represents another milestone in the firm’s growth strategy focused on providing high-quality, vertically integrated solutions to the most demanding private equity, venture capital, real estate, and credit investors. The Manhattan-based firm specializes in capital administration solutions including Limited Partners’ waterfall calculations and General Partners’ carried-interest allocations.
LUXEMBOURG & NEW YORK-( BUSINESS WIRE)-Alter Domus, a fully integrated provider of fund administration, debt capital markets and corporate services backed by the Permira funds, today announced the acquisition of Investors Economic Assurance (IEA), a global leading provider of technology solutions and services to alternative investment managers.
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