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Kimberly Kale, head of operations for the PE Back Office at Allvue Systems, discussed the opportunity of co-sourcing in The Drawdown’s November issue. She discussed the critical role of data management in GPs’ workflows. In-depth portfolio analysis, drill-through reporting, timely client communications – all of it depends on streamlined, flexible, and accurate data management.
At the same time, many private equity managers have been turning their back-office processes over to a fund administration firm. This frees GPs from accounting and reporting burdens, but at the cost of ready access to their data. There’s a solution to this tradeoff: co-sourcing.
Co-sourcing allows GPs to use fund administrators and have data access. The administrator executes the accounting and reporting workflows through the fund manager’s systems. Fund managers have access to their data for making investment and business decisions, while gaining the efficiencies and insights of an outside fund administrator.
While co-sourcing is a relatively new concept, Kale believes that it represents the future of fund administration. It simplifies the relationship between fund and administrator, while helping funds keep their data at hand.
Read the article: Comment: Co-sourcing
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