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Company continues to pioneer digitalization of private equity data with Canoe Intelligence

NEW YORK,  JANUARY 16, 2024Gen II Fund Services, LLC (“Gen II”), a leading independent private capital fund administrator, today announced a partnership with Canoe Intelligence (“Canoe”), the financial technology company powering alternative investment intelligence for institutional investors, capital allocators, wealth managers, and asset servicing firms, marking a significant milestone in its journey to lead the industry in the digitalization of private equity data.

Through this partnership, Gen II will leverage Canoe’s state-of-the-art technology to continue to spearhead innovation in automating the receipt, retrieval, and document management of communications from underlying funds.

This partnership allows Gen II to extract and digitize essential data points from underlying investment notices to streamline the contribution, distribution, and valuation processes for fund-of-fund investments.

Canoe is reshaping the future of alternative investments through cloud-based, machine-learning      technology, and will enable Gen II to continue being a leader in technologization through near-instant access to actionable intelligence from complex documents, data extraction, and data science initiatives. With Canoe, Gen II will be able to empower allocators to unlock new efficiencies by:

  • Automating processes for document collections and data extraction
  • Gaining access to deeper data sets transparently, accurately, and efficiently
  • Modernizing data workflows and building businesses for scale

“Gen II’s commitment to advancing the digitalization of private equity data is significant, and this strategic partnership is a testament to our dedication to providing our clients with unparalleled efficiency and accuracy,” said Steven Millner, CEO at Gen II. “Through the integration of Canoe Intelligence, we aim to redefine industry standards and empower our clients with enhanced capabilities to navigate the complexities of fund management with ease.”

Gen II is committed to providing expertise and personalized service in all aspects of private equity fund administration. Gen II continues to make significant investments in expanding its capabilities to complement its fund administration services.

About Gen II

Gen II is a leading fund administration provider focused entirely on serving private capital asset managers and investors. Since its inception in 2009, the company has become one of the largest independent private capital fund administrators, with more than $1 trillion of private fund capital under administration. Gen II offers private fund sponsors a best-in-class combination of people, process, and technology, enabling GPs to manage their operational infrastructure, financial reporting, and investor communications most effectively. For more information, please visit gen2fund.com.

About Canoe

Canoe Intelligence (“Canoe”) is a financial technology company dedicated to advancing alternative investment intelligence for institutional investors, capital allocators, wealth managers, and asset servicing firms. Canoe empowers clients with technology, data, and insights to manage alternative assets more efficiently, accurately, and confidently. With a commitment to innovation and excellence, Canoe is redefining the future of alternative investment data management.

Media Contacts

For Gen II:
Highwire Public Relations
Gen2@highwirepr.com

For Canoe Intelligence:
Betsy Miller Daitch
Canoe Intelligence
+1 443-690-6200
bdaitch@canoeintelligence.com

Sensr® is a cutting-edge, fully managed platform designed specifically for private equity sponsors. This dynamic fund performance and attribution analysis tool represents a significant leap in fund administration technology, streamlining and enhancing the way funds are managed and reported.

Sensr® provides comprehensive and detailed fund data analysis. It integrates seamlessly with Gen II’s technology platform, ensuring consistent fund performance data. Its user-friendly and intuitive interface allows for efficient aggregation, reporting, and analysis of performance data across various fund families, investment vehicles, and investors.

Sensr® Excel
The Sensr® Excel plug-in revolutionizes how fund data is integrated into spreadsheets. It allows for direct access to Sensr® fund analytics and data from within Excel, enabling users to employ their custom workbooks while benefiting from Sensr®’s comprehensive data analysis capabilities. This integration means that complex and dynamic fund performance data is readily available in a familiar spreadsheet environment, streamlining the process of creating detailed and customized financial reports.

Moreover, the plug-in offers automated data retrieval, a crucial feature for maintaining up-to-date fund information. With this, Excel spreadsheets can dynamically update with the latest data from Sensr®, ensuring that reports and analyses always reflect the most current information. This automation not only saves time but also significantly reduces the risk of errors associated with manual data entry.

Sensr® PPT
Similarly, the PowerPoint plug-in extends Sensr®’s capabilities to the realm of presentations. This integration allows users to access fund data directly within their PowerPoint templates, helping to create compelling and informative pitch decks and reports. The ability to embed Sensr® charts and graphs into slides ensures that presentations include clear, consistent, and visually appealing representations of fund performance data.

An essential feature of the PowerPoint plug-in is its automated synchronization capability. This ensures that all the values, charts, and graphs within the presentations are consistently updated with the latest data from Sensr®. This feature is particularly valuable for maintaining the accuracy and relevance of presentations that are used repeatedly over time.

The Sensr® Excel and PowerPoint plug-ins embody a significant advancement in the integration of fund performance data with key office applications. These tools not only facilitate a more efficient and accurate representation of complex financial data but also streamline the processes of analysis and reporting in private equity fund management.

As the fundraising environment tightens, top-tier GPs are evaluating how their internal value proposition differentiates themselves to investors

This latest period of global financial instability has forced many GPs to reevaluate their playbooks with investors.

Inflation has taken its toll on a record level of dry powder stockpiled by fund managers. Even the top players are looking inward to evaluate how their digital maturity may impact their next fundraise and help them emerge stronger from the downturn.

Those who are successful cement their place among the next era of private equity powerhouses.

With a volatile market, however, comes new product innovation and additional pressure on GPs for operational excellence. Elite GPs, those who operate at a higher level already, are focusing on enhancing their key LP relationships ahead of the next fundraise.

As the business of private equity itself has matured, managers who previously championed their investor relations efforts early on came out on top of the fundraising race. Today, that’s not enough. Those that similarly prioritize and advance their data systems and technologies will be most successful.

The best-in-class have used this time wisely

In these times, investors have begun to make assumptions that some managers are sitting on their hands waiting for interest rates to improve as a means to artificially bolster their fund marks. They’re also savvy enough to see that the best-in-class GPs are getting more creative.

As a result, LPs will be attracted more to managers who use this uncertain time wisely. A recent report, “Fund Administration Technology, Private Equity’s New Differentiator,” found that 48% of institutional LPs are a lot more likely to invest when fund administration includes automation.

Key players understand this value proposition and are implementing adaptable technologies, according to, “Private Equity Outlook in 2023: Anatomy of a Slowdown”,.

Complacency could mean trouble

Fund managers who strategically leverage their time to focus on technology that allows them to implement, support, and adapt to creative deal structures will emerge on top. The elite performers who are committed to advancing their technology will be better suited to remain competitive and differentiate themselves in a saturated market of GPs and win.

On the other hand, PE fund managers not willing to catch up with digital transformation may soon be in trouble. In a down cycle, exemplified by recent Q2 PE fundraising numbers, evolution over complacency will be the difference between an LP re-upping or allocating elsewhere.

Complex products require a different approach

Products available to underlying investors have dramatically increased in complexity in recent years, and the resources necessary to manage that related data have also skyrocketed.

Top-tier GPs at the helm of this extraordinary product development are hunkering down and improving their tech stack.

As LP appetite for sophistication in both products and fund structures rises, private equity fund managers that can meet demands for complex offerings will likely rise to the top of investor lists during their next fundraise.

Partnering with third-party technology providers has allowed elite GPs to gain further market advantage against their middle-of-the-pack peers.

Without explicit investment in advanced technology, LPs will begin to question managers’ ability to navigate and report on increasingly complex funds. A lack of internal infrastructure built to increase transparency in investor communications will disallow innovation.

This is especially timely as regulators have made it clear that reporting requirements for private funds continue to be a top priority.

Rising to meet higher LP expectations

LPs want GPs to focus on what they know best, dedicating their attention to their portfolio and sourcing downturn-proof deals. Managers that are too focused on manual and legacy processes will be unable to keep up with the elite firms leveraging technology to alleviate burdens.

Technology can offer GPs a chance to rise to their LPs’ high expectations on trust, transparency and reporting out the additional data that comes with fund product innovation.

Those who use this recessionary time to make technology adjustments will set themselves up for growth once the market recalibrates and will be the most attractive to LPs. Those who remain stuck in their ways, unable to adapt to an evolving landscape will be left behind.

Gen II donates art to local Denver nonprofits supporting access to behavioral healthcare

NEW YORK, December 11, 2023 — Gen II Fund Services, LLC (“Gen II”), a leading independent private capital fund administrator, today announced the donation of over 70 pieces of art to local Denver nonprofit WellPower, a national leader in behavioral health.

The collection of art being donated includes many pieces from the well-known Colorado landscape photographer, John Fielder, whose photographs  have earned him recognition including the Sierra Club’s Ansel Adams Award in 1993, and in 2011 the Aldo Leopold Foundation’s first Achievement Award given to an individual.

“At our core, we believe in making a positive impact,” said Steven Millner, CEO of Gen II. “In donating these photographs to WellPower, we recognize the profound impact of the work they do to transform lives. This donation underscores our dedication to supporting nonprofits and fostering a culture of compassion and philanthropy.”

WellPower is based in Denver, Colorado and is primarily known as a model for innovative and effective community behavioral healthcare, providing for those in need of a place for recovery, resilience and well-being. WellPower is committed to enriching lives and minds by promoting the connection between a person’s mental health and overall well-being.

“We are thrilled and deeply grateful to receive this generous in-kind donation from our friends at Gen II,” said Sharon Robinson, Donor Relations, WellPower. “Their support exemplifies the powerful impact that collaboration between nonprofits and businesses can have on our community. Together, we are creating a canvas of positive change and social impact.”

In addition to the donations made to WellPower, Gen II also donated 5 Dr. Seuss framed pictures to the local Denver Ronald McDonald House.

About Gen II

Gen II is a leading fund administration provider focused entirely on serving private capital asset managers and investors. Since its inception in 2009, the company has become one of the largest independent private capital fund administrators, with more than $1 trillion of private fund capital under administration. Gen II offers private fund sponsors a best-in-class combination of people, process, and technology, enabling GPs to manage their operational infrastructure, financial reporting, and investor communications most effectively. For more information, please visit gen2fund.com.

Two years ago at this time, emerging managers seemed to have survived the challenges brought on by the pandemic and were finally poised to pick up where they had left off prior to the global shutdown. LPs were eager to make commitments to new managers, new entrants were coming into PE every day, and the fundraising market was robust. It has been a very different story, however, in the time since. Significant and seemingly constant winds of change, led by the SEC’s new rules for private funds approved in August 2023, have made an already difficult fundraising terrain that much more challenging for smaller and emerging managers. Investors tend to be less willing to allocate to newer managers in uncertain times, and the pressures emerging managers are facing is reflected in this year’s survey results from both LPs and GPs, who clearly see the universe of private capital fundraising transforming right before their very eyes.

Views on allocations and fundraising

Investors continue to make adjustments to their private market portfolios, with many still taking a more conservative approach to capital allocations and not establishing new relationships. This is being driven in part by both a slowdown in the velocity of capital flow and the ongoing trend of larger firms raising more and more of that available capital. With established firms coming back to market sooner and raising increasingly larger funds, re-ups are absorbing much of the bandwidth of investors. This is making it difficult for emerging managers not only to get their fair portion of the annual capital allocation pie but to even get in front of investors. Investor allocations a year ago were stretched thin, but more than three-quarters of respondents (76%) continue to report that they have formal PE allocation programs. Investors have capitalized so far in 2023 on favorable buying conditions, enough so that the survey revealed an uptick in LPs’ average annual PE/VC target allocations from 47% of their portfolios in 2022 to 50% in 2023.

Fundraising across the board is becoming more challenging, again compounded by the ramifications of the new SEC rules, and this is especially true for emerging managers. However, LPs are still deploying capital and in 2023, progress was made in terms of the length of time it takes to close on a commitment from start to finish. In 2022, 65% of LPs reported that it took anywhere from one to four months from the date of first introduction to signed commitment; this grew significantly to 79% in the 2023 results. At the same time, the expectation of longer closing times fell as only 3% of LPs reported closing periods of 12 months or more, compared to 21% in the prior survey. The most common period, by far, continued to be five to nine months (57%).

The good news is that many investors are confident their allocations for new commitments to emerging managers will remain steady, but with a decline from 66% to 58% of respondents. The data also clearly shows that LPs are seeking to expand their emerging manager positions to drive more diversity through this segment of their portfolios. Those LPs reporting that they hold 0-5 emerging managers fell from 61% in 2023 to 39%, while those with 16 or greater more than doubled year over year.

The bar, as always, is set high

LPs are continuously looking to add new managers and want to invest with newly formed firms with genuine differentiation. Anecdotally, many believe GPs are “hungriest” to perform for funds with Roman Numerals one through three. At the same time, they recognize the challenges emerging managers face, particularly, to not only source investments and create value but to stand up a back and middle office to meet their LPs’ rigorous reporting and compliance demands. So, while there is still space for new players seeking capital, the bar is always set high.

A large majority of investors – 80% compared to just over two-thirds in 2022 cited superior returns and portfolio diversification as the primary reasons for their emerging manager programs, and 92% — up from 79% in 2022 – said they are still most likely to invest in an emerging manager formed by a team spun out from a larger firm. At the same time, LPs continue to put increased pressure on emerging managers when negotiating terms. In particular, the number of LPs requesting access to co-investment opportunities grew from 45% to 60%, while LPAC participation was another common request, jumping from 63% to 72%.

Whether this is the right approach to position fledgling fund managers to thrive – because they’re certainly not reducing their reporting demands – it underscores the pressures facing new managers. In this more risk-averse environment, which seems as if it’s here to stay, it is even more important that emerging managers partner with the right service providers so they can focus on the mission-critical tasks of raising, investing, and growing capital without taking on the back- and middle-office responsibilities that might otherwise create a distraction.

Increased demand for real-time access to accurate, timely information

Given the significant levels of capital invested in the alternative investment space and a larger addressable market of investors, automation, accuracy, and transparency have never been more critical. In fact, the newly approved SEC rules for private funds – the most significant industry reforms in nearly 15 years – are aimed directly at increasing transparency for all investors.

In the private markets, implementing technology is a requirement to handle not only the increasing volume of investors but the growing complexity of the fund structures. Increased competition for emerging managers is driving next-generation technology to fill a critical role in the fund administration process for emerging managers.

Not only are LPs in the driver’s seat when it comes to capital raising and negotiating terms, but they are also driving trends in fund operations. This is especially true around new technology, which is fast becoming table stakes to facilitate improved onboarding through electronic subscription documents, bespoke and more frequent reporting, and more depth and transparency around performance and attribution reporting as well as portfolio monitoring.

Technology is changing how GPs onboard investors by digitizing the fund subscription process from a labor-intensive, error-prone paper process to an automated, digitized subscription process that is more accurate, reliable and customizable. Utilizing electronic subscription documents not only improves the LP experience, but it also gives fund managers immediate visibility into investor activity and fundraising analytics. This visibility is critical in an environment where the competition for capital is heightened.

As the asset class matures, there will be a sea change in reporting frequency, particularly to the extent managers welcome HNW and accredited retail investors. Historically, reporting is done on a quarterly basis. However, some LPs are starting to ask for more frequent reporting, seeking the same access to information that they have for their public market investments. The adoption of technology will likely be required to accommodate the acceleration in the timeliness and accuracy of information LPs are requesting.

Private equity sponsors are also embracing technology around portfolio monitoring. They’re leveraging data and analytics for real-time insight into how they’re generating returns and using these capabilities to optimize decision making. With the growth in private equity as an asset class, we are seeing much more demand for data and precision in analytics as sponsors realize that their data is a potential source of differentiation.

In today’s investing climate especially, LPs want to know that the GP they’re investing in works with a reliable operations partner. Specialist fund administrators like Gen II play a key role in helping emerging managers become stronger operationally, which in turn makes them more institutionally investable.

In terms of data capabilities, Gen II’s tools give sponsors “corner office” analytics and insights into their portfolios and a performance analytics platform that offers both a 30,000-foot view of their enterprise or fund as well as granular details at the investment level. These capabilities through Gen II allow emerging managers to offer best-in-class bespoke reporting for LPs that are increasingly demanding transparency, custom reporting requirements, and real-time access to details of their investments, performance attribution, management/performance fees paid, etc.
At Gen II, we believe that investing in technology and investing in people go hand in hand. We look for a balance and try to invest in technology in areas where we can scale, reduce cycle times and improve quality, but also maintain capabilities to ensure that we can administer and manage these complex structures or even enhance the “operational” alpha embedded within them.

Working with the right partner is key

Scalability, performance, and experience truly matter, and the majority of emerging managers start their life with an administrator relationship. Given the increased complexity of fund structures, escalating stakeholder expectations, and complex regulatory requirements, it is vital that emerging managers team up with a provider that can demonstrate relevant and specialized experience. Equally important considering the long-term nature of these relationships, is a commitment to technology investment, team continuity, and the ability to scale with clients.

Gen II has helped launch more emerging managers than anyone else in our industry. In the process, we have partnered with each of them to build strong foundations for success, and helped them scale as they added new funds, LP types, geographies, and even alternative strategies – from every flavor of PE to private debt and real assets. The private equity entrepreneurs we work with value the confidence our experience imparts, and they can trust their funds will be well-run.

For the remainder of 2023 and beyond, the survey reflects that while capital raising for emerging managers will continue to be challenging there will be opportunities for continued growth over the long term. However, lower capital allocations, economic uncertainty and hesitation to take on greater risk, are causing LPs to diversify their existing emerging manager positions and be more selective in the overall manager evaluation process. A highly qualified set of professional service firms – fund administrators, auditors, placement agents, compliance consultants and attorneys – with deep experience supporting first-time funds will continue to be vital to the emerging manager’s success.

The Common Reporting Standard (CRS) (December 18, 2015), which governs the automatic sharing of financial account information for taxation purposes, has been amended. The Amended CRS Law (May 16, 2023) introduces a new requirement for reporting financial institutions related to data protection.

Under the Amended CRS Law, reporting financial institutions must formally inform individuals about the specific information they plan to share with the Administration des Contributions Directes (ACD). This notification must occur before sharing the data with the ACD, and clients must be given the opportunity to correct any inaccuracies in their personal data as per the General Data Protection Regulation (GDPR). The Amended CRS Law does not prescribe the method of communication for this personal data.

The Luxembourg data protection authority Commission Nationale pour la Protection des Données (CNPD) welcomed this amendment in a bill (December 2, 2022) focused on enhancing data sharing transparency. The CNPD believes that this increased transparency empowers individuals to exercise their right to correct data under GDPR, ensuring that accurate and current information is shared with the ACD in line with GDPR principles.

Individuals are advised to review the information they receive and promptly inform reporting financial institutions of any errors or changes. It’s important to note that this new obligation is not a means for individuals to oppose data processing, as it is a legal requirement for reporting financial institutions.

Compliance with CRS reporting is crucial for investors as it promotes transparency and facilitates the exchange of financial information between countries. For private equity firms, adherence to these regulations is essential to manage risks, maintain a positive reputation, access global markets, and demonstrate their commitment to international tax transparency standards. Our Tax team is well-equipped to ensure accurate and timely completion of your FACTA & CRS reporting, giving you peace of mind.

If you have questions, contact us.

Emerging Managers Report 2023

This report highlights important factors that new general partners need to consider when launching their funds, and key areas of focus for limited partners considering investing with emerging managers.

It compiles survey results from both emerging managers and LPs, gauging their views on fundraising, fund terms, co-investment opportunities, and the due diligence process, as well as the defining characteristics that attract investors to emerging managers.

Among the areas explored by the survey:

  • Fundraising timelines – from initial to both first and final closes
  • Sourcing LP capital – where did the commitments come from?
  • Hiring trends among emerging managers
  • Importance of team composition versus track record from the LP perspective
  • Anchor investor considerations

Key takeaways from this year’s survey include:

  • Investors are most likely to invest in emerging managers to pursue superior returns compared to established managers, with over half of respondents agreeing that a key attraction of emerging managers is the chance to invest in more specialized strategies
  • 89% of LPs will back a debut PE/VC fund. This number rises to 95% with a manager’s second fund
  • Interest rate hikes, a recession in core markets, and high inflation were indicated as the most likely factors to impact performance over the next year
  • When asked about the key challenges to raising a debut fund, emerging managers cited competition with more experienced managers as the number one issue
  • LPs agree that track record, and composition of team are by the far the biggest factor in selecting emerging managers, with investment strategy in third place

“The pressures emerging managers are facing are reflected in this year’s survey results from both LPs and GPs, who clearly see the universe of private capital fundraising transforming right before their very eyes ” said Jeff Gendel, Principal at Gen II Fund Services. “Our partnerships with the industry’s leading emerging managers and LPs that invest with them reconfirm the importance of a cohesive team, strong track record and a clearly delineated investment thesis – and the imperative to engage with experienced service providers to help navigate the path to success. We thank the Buyouts editorial staff for their efforts to make this annual survey a must-read for the community.”

Graeme Kerr, Head of Special Projects at Private Equity International, said, “Despite the challenging times, nearly 90% of investors are willing to back a debut fund. As with previous editions, this year’s data will serve as a benchmark on the status of the emerging manager market. We are fortunate to be able to produce this report in partnership with Gen II Fund Services LLC.”

About the Report
The Emerging Manager Report, published by Buyouts in partnership with Gen II Fund Services, LLC, is the private equity industry’s primary source for PE/VC emerging managers and institutional investors with an appetite to back them. A total of 127 emerging managers and 58 institutional investors with a self-identified appetite for emerging managers were surveyed. The results are released annually.

Effective treasury management is essential to maintain financial stability, optimize cash resources, manage financial risks, and make informed financial decisions to support growth and profitability.  When a fund’s treasury operations lack centralization it leads to inefficiencies, increased risks, and limited visibility into the fund’s overall cash position. Furthermore, manual processes for cash forecasting, bank reconciliations, and payments are time-consuming and prone to errors. Gen II recognized the need for a comprehensive treasury management solution to optimize its treasury operations, mitigate risks, and enhance financial decision-making.

Treasury management software enhances the efficiency, accuracy, and security of financial operations for private equity firms, enabling them to make better-informed decisions and manage risk effectively in a competitive financial landscape.

Hazeltree software provides innovative cloud-based treasury solutions to investment management firms, delivering enhanced transparency, liquidity, improved performance, and risk mitigation.

  • Increased Controls & Security – Standardized treasury processes utilizing a centralized platform with workflows, segregation of duties, access control, and audit logs. Hazeltree will securely store all settlement instructions for all payees.
  • Cloud Based Computing – allows you access to transactions anywhere at any time to approve or view the most up-to-date information related to your pending or completed transactions. This allows for quicker release of transactions and reduces time to research transactions.
  • Electronic communication with banking partners – utilizing the SWIFT messaging network, Gen II will be able to electronically communicate with participating financial institutions for streamlined money movement, eliminating the need for you to log into banking platforms to initiate, release, or view transactions.
  • Streamlined Reconciliation – utilizing Hazeltree’s cash reconciliation module, Gen II will be able to efficiently reconcile bank-to-book transactions, alerting you to irregularities in a timely fashion.
  • Consolidation of Operations – Gen II has formed a Treasury Operations team to centrally manage all funds transfers on one team. The team will serve as a single point of entry for all payment execution as well as updating and maintaining standing settlement instructions, further securing the money movement process. We expect this centralization of functions will allow the accounting teams to focus on more core responsibilities for our clients.

For more information about Gen II’s implementation of HazelTree, please contact your Gen II Client Service Fund Manager or Matthew Cammer at MCammer@gen2fund.com

2023 Private Equity Tax Calendar

While April 15th may be the most notable, there are plenty of other tax deadlines you don’t want to miss.

Unlike others, Gen II Tax Services is a full-year tax partnership rather than a short-term relationship focused only on your tax filings. Our Tax teams continuously maintain and monitor your data throughout the entire year, providing early insights that allow you to make proactive decisions regarding your tax filings.

Gen II Tax Services is a full-service tax offering focused solely on private equity funds and their partners’ unique needs. Our comprehensive, practical approach focuses on partnering with clients to assist with planning and compliance requirements for the combined benefit of all stakeholders. With our deep private equity expertise, knowledge of our clients’ unique fund structure, and the maintenance of their fund data, Gen II is uniquely positioned to deliver both tax and fund accounting needs.

If you have any questions or need assistance preparing your tax return, contact us at tax@gen2fund.com.

What You Need to Know About the New Form PF

Private fund advisers will be aware of the recent surge in regulatory scrutiny and consider the significant impact and challenges that come with the new Form PF amendments.

In 2023, amendments to Form PF were implemented to provide the SEC with a more thorough understanding of the hazards presented by private funds and to better enable them to recognize and respond to potential systemic risks.

The amendments mandate large hedge fund advisers and all private equity fund advisers to file current reports upon the occurrence of specific reporting events that could signify significant stress at a fund or harm to investors. Large hedge fund advisers must report these events within 72 hours, while private equity fund advisers must report every quarter within 60 days of the quarter’s end.

Large private equity fund advisers must fulfill additional requirements, such as submitting annual reports on general partner and limited partner clawbacks, as well as provide more data on their strategies and borrowings. These amendments are set to become effective six months and one year after publication in the Federal Register for current and remaining amendments, respectively.

Ensure your Form PF is filed accurately with Gen II
Not only does Form PF involve adhering to strict filing deadlines, but it also requires an understanding of complex calculation methodologies and deep knowledge of the fund’s activities. Therefore, many firms choose to outsource this task to specialized fund administrators who have the necessary expertise and systems to complete these filings accurately and on time.

Gen II Fund Services has a robust and scalable regulatory reporting solution that helps our clients with complex reporting needs.

  • Gen II Regulatory Reporting Platform is a centralized regulatory reporting tool for multiple filing requirements across various jurisdictions.
  • Our Reporting Platform is built on modern architecture for scalability, data integrity, security, and compliance.
  • With the industry’s most comprehensive unified data model, our Reporting Platform ingests one data set to feed and populate multiple forms, including Form PF.

This year, Gen II introduced Online Self-Service Regulatory Reporting capabilities, allowing our clients to review data using our exception base engine, approve their reporting, and file directly with FINRA. This eliminates the paper-based process and significantly reduces the cycle times and risk.

Gen II Compliance Services for Form PF

Form PF filing for all entities in scope, even those not administered by Gen II

Integrated solution for data identification, aggregation, calculation, verification, and storage

Access to a complete audit trail, storage, and reconciliation of Form PF data

Form PF filing is completed directly on the FINRA site, where clients can review and submit