Citco Launches Automated ILPA Fee Reporting Solution

Jan 12 2017 | 12:10am ET

Global alternative assets services provider Citco has debuted a new automated system that will assist its private equity firm clients with various ILPA fee reporting requirements.

Responding to client demand, Citco’s tool’s automates the ILPA fee reporting process, offering a more efficient solution that replaces a time-consuming, excel-based method, the company said in an email to FINalternatives.

ILPA's fee transparency initiative is a broad-based effort to establish more robust and consistent standards for fee reporting and compliance among private equity investors, fund managers and their advisors. 

“Our new ILPA Fee Reporting tool stems directly from Citco’s commitment to investing in technology solutions that are specifically designed to meet the needs of our private equity and real estate clients,” said Nick Perros, head of Citco’s private equity and real estate services, in the email. “The ILPA Fee Reporting tool makes it easier and more efficient for our clients to adhere to new transparency requirements.”

Release of the new tool comes less than five months after Citco’s September 2016 launch of new technology that enables private equity firms to more efficiently calculate waterfall payments to limited and general partners. 

Tracing its roots to the founding of a civil law notary practice in 1948, The Citco Group of Companies is a worldwide network of independent financial service companies serving the world's elite hedge funds, private equity and real estate firms, institutional banks, Global 1000 companies and high net worth individuals.

The group offers hedge fund administration, custody and fund trading, financial products and corporate and trust planning solutions.  It has more than $995 billion in AuA, $625 billion of which is hedge fund assets and $220 billion is private equity and real estate. 

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