Gen II Fund Services, LLC, a leading third party Private Equity Fund Administrator, today announced that Jeff Gendel has joined the firm as Managing Director of Business Development.
Jeff will be responsible for driving business development activities for Gen II along with further developing Gen II’s existing client relations. In this role, he will work closely with both Norman Leben and Steven Millner, the Managing Principals at Gen II. Norman Leben stated, “We are delighted to have Jeff join our team. He possesses the important commercial and technical experience and expertise that will prove critical in assisting us in continuing our business growth”.
Steven Millner, Managing Principal of Gen II commented, “Jeff brings to Gen II a proven track record of growing a business and establishing deep relationships within the Private Equity community. His reputation in the private equity industry and his full appreciation of the client perspective will help us to achieve our growth objectives.”
Mr. Gendel joins Gen II from PEI Media, where he was the first US employee and helped to grow PEI into the leading information authority covering private equity, real estate and infrastructure funds. During more than a decade at PEI, Mr. Gendel was directly responsible for the creation and commercial execution of many of PEI’s key products, including the annual Private Equity CFO and COO Forum, the PEI Operating Partners Forum, and the PEI 300, the industry’s definitive size ranking of private equity firms.
“I’m thrilled to be joining Norman, Steven, and the Gen II team,” said Mr. Gendel. “The fund administration community is experiencing dramatic growth and I look forward to working with Gen II and the private equity industry in this new role.”
Gen II Fund Services, LLC, a leading independent private equity fund administrator, today announced it successfully completed an independent examination of its Administrative, Accounting and Reporting Services – Service Organization Control Type 2 (SOC 1) in accordance with Statement on Standards for Attestation Engagements No. 16 issued by the AICPA (SSAE 16 formerly SAS 70). A major international accounting firm examined the design and effectiveness of Gen II’s specified controls for the period December 1, 2012 to November 30, 2013.
Gen II has committed to annual certification of its control environment as a core element of its differentiated service model. “This is the fifth consecutive year that Gen II has achieved an unqualified report on its control environment and this commitment to excellence provides Gen II, its clients and their auditors with an independent assessment of the design and operation of its control environment,” said Gen II Chief Operating Officer Steven Alecia. “This becomes increasingly important as investors, fund managers and regulators intensify their focus on independent, transparent and quality operational procedures.”
Gen II’s service and control environment is developed and delivered in adherence with established industry best practices. For Gen II’s clients, the SOC 1 report provides them with confidence that Gen II has adequately described, in all material respects, its controls and, that its controls were suitably designed and operating effectively to achieve their specified objectives.
Gen II Fund Services, LLC (“Gen II”), an independent global fund administrator, achieved top rankings in the 2013 Global Custodian Private Equity Administration Survey. Gen II achieved the highest overall score of any private equity administrator in the Survey. Additionally, Gen II received the highest scores in the Survey for servicing funds under $1 billion, servicing funds $1-10 billion, and as a single provider administrator.
In its seventh year, The Global Custodian Private Equity Survey is the recognized industry survey ranking the quality of third party private equity administrator’s client satisfaction. The 2013 Survey rated 10 global administrators, including Gen II.
The Survey reflects both client quotes and editorial commentary. “Gen II has made a rather spectacular entrance to the PEFA survey.” According to one Gen II client, “They are head and shoulders above other administrators that I interviewed during the selection process.”
“We are very proud of the acknowledgement of what we have accomplished. Executing at the highest level has always been our commitment to our clients and their investors,” said Norman Leben, Managing Principal and co-founder of Gen II. “We want to thank our clients for their support and trust, and our staff for their commitment to excellence,” said Steven Millner, Managing Principal and co-founder of Gen II.
The Survey ranked 12 service areas in such categories as client service, value, accounting and reporting to LPs and GPs, regulatory reporting and technology. According to the results, Gen II “comfortably outperforms the global weighted average.”
Gen II Fund Services, LLC, a leading independent private equity fund administrator, today announced that it has surpassed over $55 Billion of capital under administration representing more than 550 fund entities and 4,800 limited partners. About Gen II Fund Services, Gen II Fund Services, LLC is focused exclusively on providing superior fund administration services to private equity fund sponsors and investors around the world. Gen II differentiates through the delivery of its client centric service model, costum designed for the specific needs of each of its clients.
Gen II Fund Services, LLC, a leading independent private equity fund administrator, today announced that is has surpassed over $50 Billion of capital under administration representing more than 400 fund entities and 6,000 limited partners. About Gen II Fund Services Gen II Fund Services, LLC is focused exclusively on providing superior fund administration services to private equity fund sponsors and investors around the world. Gen II differentiates itself through the delivery to its client centric service model, custom-designed for the specific needs of each of its clients.
Gen II Fund Services, LLC, a leading independent private equity fund administrator, today announced it successfully completed an independent examination of its Administrative, Accounting and Reporting Services – Service Organization Control Type 2 (SOC 1) in accordance with Statement on Standards for Attestation Engagements No. 16 issued by the AICPA (SSAE 16 formerly SAS 70). A major international accounting firm examined the design and effectiveness of Gen II’s specified controls for the period December 1, 2011 to November 30, 2012.
Gen II has committed to annual certification of its control environment as a core element of its differentiated service model. “This is the fourth consecutive year that Gen II has achieved an unqualified report on its control environment and this commitment to excellence provides Gen II, its clients and their auditors with an independent assessment of the design and operation of its control environment,” said Gen II Chief Operating Officer Steven Alecia. “This becomes increasingly important as investors, fund managers and regulators intensify their focus on independent, transparent and quality operational procedures.”
Gen II’s service and control environment is developed and delivered in adherence with established industry best practices. For Gen II’s clients, the SOC 1 report provides them with confidence that Gen II has adequately described, in all material respects, its controls and, that its controls were suitably designed and operating effectively to achieve their specified objectives.
Gen II Fund Services, LLC (“Gen II”), a leading independent private equity fund administrator, today announced the appointment of Mark O’Connor to Director of Business Development.
Mark has spent over 20 years in the private equity industry. Prior to joining Gen II, he was a Senior Vice President at Citi Private Equity Services, Inc. (formerly BISYS), responsible for business development. Previously, he was an Executive Director with CIBC Capital Partners, where he helped build and manage the firm’s private equity fund unit.
Mr. O’Connor said, “Gen II is unique in its private equity industry experience, depth of talent, service model and technology platform. I am excited by the opportunity to leverage my many years of private equity experience to support Gen II’s growth initiatives.”
Gen II Fund Services, LLC, a leading independent private equity fund administrator with over $40 billion of capital under administration, today announced that it has enhanced for its client’s use its Fund Management Dashboard to provide full functionality for use on an iPad. The Fund Management Dashboard provides key performance metrics for Private Equity Fund sponsors including capital drawdowns and distributions, remaining capital commitment, outstanding capital calls, investment and fund level performance.
Norman Leben, Managing Principal, commented that the Fund Management Dashboard actually has the capability to drill down to the transaction level detail. Together, with a sophisticated permissioning system, Private Equity Professionals have access to the data they need to see, 24 x 7 x 365.
Steven Millner, Managing Principal, noted that Gen II’s clients are frequently travelling meeting with portfolio companies and investors, this new tool was developed by Gen II based on a need expressed by clients to have mobile access to their fund data, wherever they are and whenever they want.
Gen II Fund Services, LLC, a leading independent private equity fund administrator, today announced it successfully completed an independent examination of its Administrative, Accounting and Reporting Services – Service Organization Control Type 2 (SOC 1) in accordance with Statement on Standards for Attestation Engagements No. 16 issued by the AICPA (SSAE 16 formerly SAS 70). A major international accounting firm examined the design and effectiveness of Gen II’s specified controls for the period January 1, 2011 to December 31, 2011.
Gen II has committed to annual certification of its control environment as a core element of its differentiated service model. “This is the third consecutive year that Gen II has achieved an unqualified report on its control environment and this commitment to excellence provides Gen II, its clients and their auditors with an independent assessment of the design and operation of its control environment,” said Gen II Chief Operating Officer Steven Alecia. “This becomes increasingly important as investors, fund managers and regulators intensify their focus on independent, transparent and quality operational procedures.”
Gen II’s service and control environment is developed and delivered in adherence with established industry best practices. For Gen II’s clients, the SOC 1 report provides them with confidence that Gen II has adequately described, in all material respects, its controls and, that its controls were suitably designed and operating effectively to achieve their specified objectives.
Gen II Fund Services, LLC, a leading independent private equity fund administrator, today announced the promotions of Ariel Jorge, Rose Kim, and Michael Tesoro to Managing Director.
“Gen II is a specialty firm with a unique composition of experienced professionals focused on providing best in-class services to our clients. We are proud of the culture we have developed and are fortunate that we can further strengthen our senior positions with people from within the firm,” said Gen II Chief Operating Officer, Steven Alecia.
Mr. Jorge joined Gen II from Citi Private Equity Services, Inc., where he served as a Vice President and managed the day-to-day fund accounting and reporting for over 35 private equity funds. He has a BBA in Accounting and an MS in Finance from Baruch College.
Prior to joining Gen II, Ms. Kim was a Vice President at Credit Suisse Alternative Investments, where she managed the day-to-day fund accounting and reporting deliverables of various real estate private equity funds, and prior to that worked for Deloitte & Touche. A Certified Public Accountant and a Canadian Chartered Accountant, she graduated from the University of Calgary with a Bachelor of Commerce degree.
Prior to joining Gen II, Mr. Tesoro was a Vice President at Credit Suisse Alternative Investments, primarily focused on managing the day-to-day fund accounting and reporting deliverables of various real estate private equity funds. Before that he worked at Arthur Andersen LLP. Michael is a Certified Public Accountant and a member of the AICPA and NYSSCPA. He received a BS in Accounting and a BS in Finance from Manhattan College and an MBA in Finance from the Fordham University Graduate School of Business.
