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Polaris is an industry-leading private equity firm based out of the Nordics, with a track record stretching back over two decades. They recently implemented Allvue’s Fund Accounting, CRM, and Business Intelligence solutions to facilitate the launch of their fifth fund.
Joachim Satchwell, Associate Director at Polaris, spoke with us about the increasing complexity of managing multiple funds, and the increasing value of having a comprehensive back-office system to help manage it.
“A back-office system is increasingly valuable once you begin to have numerous funds and strategies. The first fund can be supported by the few back-office resources you will have anyway, but soon there will be a trade-off between adding more people or implementing an IT system. However, the latter has the added benefits of automation, high data security and consistency, and minimizing key man reliance.
“The time to implement a back-office system is when you are about to raise your third or fourth fund. By this time, you will have been active for 8-12 years and will have built up a credibility in the market that will enable you to begin to think about investing in growth. You could still get by on your legacy systems at that point, but since you already have several active funds and varying groups of investors, the complexity and administration processes will increase rapidly. Migrating to a back-office platform then – instead of later on, once three or four funds are live – will significantly simplify the implementation process and ensure you continue to have an efficient back-office.”
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At Allvue, we’re committed to harnessing technology and expertise to tackle the biggest challenges facing the private capital space. Our Resources hub, offering blog articles, whitepapers, case studies, videos, and more, shares industry best practices and reflects the experience and learnings of top Allvue experts and our partners motivated to see this industry continue to grow and thrive.
Our goal is to provide guidance as well as food for thought for anyone interested in the private equity, venture capital, private debt, and public credit spaces – whether you’re learning the fundamentals or getting ready to raise your fifth fund. Many of our articles contain links to trusted third-party resources to support our takes, and all our content is regularly reviewed and updated to keep current with the fast pace of alternative investment innovation.