Updated on: June 7, 2023
Gen II plans to significantly build out its workforce in the Denver area
Gen II Fund Services LLC will be opening the doors to its new offices at Belleview Station, a lively area that includes restaurants, hotels, shops and apartments, in the Denver Tech Center next month. A provider of fund administration services for leading private equity funds, Gen II plans to significantly build out its workforce in the Denver area and expects professionals to be attracted to its hybrid work model and a culture focused on fostering career growth. The office, located conveniently adjacent to a RTD light rail station, will feature floor-to-ceiling windows that provide staff with beautiful views of the Rockies and an open floor plan that encourages collaboration.
The move to the new location comes nearly two years after Gen II acquired Denver-based Stone Pine Accounting Services LLC, a provider of private equity fund administration, tax, and investor services. Since the August 2021 acquisition, Gen II has added a full-service tax department and actively recruited in Denver. Just in time for summer, the financial services firm has instituted a Denver internship program in its fund accounting and tax departments to nurture young talent.
Supporting the Dynamic Private Equity Market Industry
Gen II’s customer base includes leading private equity firms that play an important role in the global economy and whose investors include pension funds and endowments. Gen II has more than $900 billion of private fund capital under administration and serves more than 200 private equity fund clients. Founded in 2009, Gen II is headquartered in New York, with additional offices in Boston, Dallas, San Francisco, Stamford, Vancouver, and Luxembourg.
As the nation’s largest independent private equity fund administrator, much of Gen II’s growth has been powered by a combination of best-in-class people, processes, and technology. The firm’s experienced team and cutting-edge tools enable private equity fund managers, and general partners, to manage their operational infrastructure, financial reporting, and investor communications more efficiently. The funds Gen II services include a variety of asset classes including private equity, private credit, and real estate.
With the recent tumult in financial markets these private equity firms have experienced even greater demands from investors and Gen II is helping them deliver “on-demand” granular information about the performance of funds and their holdings. General partners at the funds rely on Gen II to deliver data in a customized formats which help them build trust and deepen relationships with investors. Packaging and delivering the right data and quality information in real time requires technical and human resources many private equity general partners do not have. That is where Gen II plays an important role.
Gathering massive volumes of data for general partners at private equity firms is enabled by Gen II’s web-based reporting solution, Sensr®. This innovative fund administration technology helps summarize data in a granular fashion enabling general partners to fluidly deliver reports on funds, fund families and investments to investors.
A Diverse Workforce That Matches Its Increasingly Diverse Client Base
Gen II’s expansion in Denver and other markets involves building a diverse workforce that reflects its increasingly diverse client base. Gen II has built a truly diverse workforce. Of its more than 1,000 employees, 45 percent are female, and two-thirds identify as people of color.
In Denver as elsewhere, Gen II will look to attract a diverse pool of candidates as it lays the foundation for future growth in the region.
Gen II BootCamp & SkillsMatch Program
The new Gen II facility will include a learning and training center that will be Gen II Global Training Center of Excellence. The knowledge and computational skills required to provide accurate, bespoke private equity fund administration are highly specialized. As these skills are typically not taught at universities or colleges, Gen II utilizes its own “boot camp” training program to prepare its new fund accountants for sophisticated fund work. Last year, 288 fund professionals participated in 39 client service boot camps.
Gen II also offers a “Skillsmatch” program, in which employees can reach out to self-identified subject matter experts within the company for assistance, as needed. In addition, Gen II’s “Mentoring Circles” program offers professional skills building, strengthening of relationships and career growth in a small group setting. Gen II is also developing continuous learning programs as well as initiatives focused on customized professional skills, leadership, and management as well as additional technical training.
Gen II’s growth as an industry leader is rooted in an ability to harness the soft skills of its leadership and staff. These include being proactive, nimble, obsessed with quality, bold and ambitious. Other soft skills that are highly valued include exercising superior judgement and being able to make data-based decisions.
As part of its unique culture, Gen II is highlighting the importance of building trust, collaboration and community among employees, who are encouraged to own their careers and build a partner with their managers and team members so that everyone can succeed and continue to drive the firm’s growth. Another key part of Gen II’s culture and competitive advantage is fostering career progression and promoting from within. At the end of 2022, more than 300 people across the firm were promoted.
Once employees have joined Gen II, a key player in the financial services industry, they become owners of the company and have a direct link to value creation by being a part of its equity incentive plans starting at the senior fund accountant level. Employees are also able to provide feedback in monthly surveys to make their voice heard and drive an inclusive culture. Last year, the company also launched a monthly recognition program that celebrates top performers’ hard work, dedication, and success.
Gen II’s culture celebrates leadership, entrepreneurial spirit, innovation, and the highest commitment to client service. If you’re beginning your career, re-entering the workforce or are an experienced professional looking for a change, Gen II might just be the right place for you.
To learn about careers at Gen II, visit: https://gen2fund.com/careers/
Published on: May 5, 2023