Financial Services: Cascata Solutions’ Strategic Partnership Transforms Fund Administration11/7/2023 In a transformative move, Cascata Solutions, a notable name in automated waterfall distribution software, has partnered with Socium Fund Services, a specialist in private equity and fund administration, as per a recent press release. This strategic collaboration is poised to reshape the landscape of financial services. It’s all about elevating the accuracy and efficiency of carried interest, management fees, and expense accounting services for private fund clients. Waterfall calculations, fundamental to the world of fund administration, have recently encountered increased regulatory scrutiny with the SEC’s “private fund rules.” Socium acknowledges the critical role these calculations play in building and maintaining trusted client relationships while ensuring regulatory compliance. Read Full Article Click Here.
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We are proud to announce our most recent partnerships with leading global fund administrators, Zedra and Socium, a Suntera company. We are privileged to have a growing community of private equity fund administrators and their clients trusting Cascata and sharing a common vision that elevates their fund accounting operating standard well beyond Excel to a digital client experience for carried interest and management fee accounting and client reporting to achieve greater operational efficiency and service quality amid fierce competition, talent management challenges and ever-changing regulatory landscape. For the full article click here. If you have interest to learn more or want a first-hand experience of our software capability, please reach out to us at info@cascata-solutions.com. 4Pines Fund Services (www.4pinesfs.com), the leading alternative investment fund administrator, and Cascata Solutions (www.cascata-solutions.com), the leading automated waterfall fund administration software provider, are pleased to announce a strategic partnership that will deliver a modern, digital experience for back-office carried interest, management fee and expense accounting and administration for 4Pines' clients spanning private equity, private credit, real estate, hedge funds and hybrid funds. NEW YORK, Nov. 1, 2023 /PRNewswire-PRWeb/ -- Fund Administration is historically reactive because of ad hoc and disconnected solutions leaving fund managers exposed and unaware of operating risk from important yet time-consuming administration tasks such as distribution waterfall – the accounting and disclosure of carried interest. The industry fund accounting operating standard is more often manual and Excel-based with limited system and data integration, resulting in inefficiencies, increased operating costs and regulatory scrutiny. "4Pines and Cascata share the vision for a modern back-office operating model that raises the bar for fund administrators, well beyond Excel and legacy systems, for carried interest, fee reporting and more. In our partnership, we will be delivering a digital-enabled client experience tailored to their needs and addressing the challenges of their increasingly complex environment with greater efficiency, quality, and scale", says Mike Trinkaus, 4Pines CEO. He continues to say, "as part of our strategy to deliver innovative, value-add services, we are offering direct access to 4Pines technology portfolio such as Cascata's PE Carry Scenario Analyzing tool to help our client's front-office have greater insights and scenario analysis into their deal-level investments". "We are privileged to work with a growing community of fund administrators like 4Pines that are taking a leadership position to deliver digital-enabled waterfall services leveraging the Cascata platform. We have addressed the shortcomings of other industry offerings and are delivering the most crucial functionality for fund accountants' production operation and 100% self-administration. Unlike other offerings, we deliver favorable time to market advantages and are not reliant on lengthy and costly implementations based on consultants trying to deliver comparable functionality. This coupled with our market momentum with clients and strategic partners is what sets us apart", says Charles Dooley, Cascata CEO. "As part of our strategy to deliver innovative, value-add services, we are offering direct access to Cascata's PE Carry Scenario Analyzing tool to help our client's front-office have greater insights and scenario analysis into their deal-level investments" says Mike Trinkaus, 4Pines CEO About 4Pines Fund Services:
4Pines Fund Services (www.4pinesfs.com) brings the private equity relationship model, supported by streamlined middle- and back-office solutions, to fund administration. The company was founded on the insight that access to data and access to expert people go hand in hand. The right combination of the two leads to more thoughtful connections and effective solutions. Socium Fund Services, a Suntera Global company specializing in private equity, private credit, real estate, and venture capital fund administration, has partnered strategically with Cascata Solutions, the leading provider of automated waterfall distribution software. Together, they aim to deliver carried interest, management fee, and expense accounting services for Socium's private fund clients. Due to their complexity and importance, accurate and timely waterfall calculations are critical but carry significant risk responsibility for fund administrators. The SEC's recent implementation of "private fund rules" has introduced unprecedented regulatory demands regarding the content and frequency of investor reporting, backed by penalties for non-compliance. In this context, ensuring the accuracy of the waterfall distribution process is crucial for establishing and maintaining trusted, long-term client relationships. "Our collaboration with Cascata positions us to provide a comprehensive digital client experience, surpassing conventional Excel-based approaches and yielding substantial enhancements in operational efficiency and service quality," said Michael Von Bevern, Co-Managing Director of the Americas for Socium". Our platform automates the entire process from data input to client reporting, ensuring transparency in system-generated outcomes. This instills confidence in our clients and auditors and streamlines our operations. The seamless onboarding of our funds through our partnership with Cascata has been a highly efficient and rewarding experience." Charles Dooley, Cascata CEO, added, "Leading global fund administrators like Socium are leveraging our platform to achieve digital-enabled carried interest and fee management. This transformation delivers operational efficiency, scalability, and substantial client value gains, with efficiency improvements of up to 45%." About Socium Fund Services As the leading Middle Market Private Equity and Private Credit Fund Administrator, Socium Fund Services, a Suntera Global company, offers customized middle and back-office solutions to institutional and emerging managers with a consultative service approach. Socium leverages a scalable and flexible technology stack to provide straight-through-processing for all asset types their clients may invest in. With a US-Based service team that delivers technical accounting expertise, Socium is well-positioned to help their clients grow through a true partnership model. Learn more about our firm by visiting sociumllc.com. About Cascata Cascata Solutions delivers advanced digital software solutions for private capital fund administrators and their clients, to modernize their back-office operation for distribution waterfall administration and more. The leadership team brings 30+ years of experience and has deep knowledge and understanding of private equity fund accounting and all the nuances with the varying investment vehicles and waterfall arrangements. |
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November 2023
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Cascata Solutions is dedicated to delivering advanced digital cloud solutions for private equity, asset managers and fund administrators to modernize their back office operation for distribution waterfall administration and more.
The founding team brings 30+ years of experience delivering technology and business transformation programs for leading financial services institutions and aims to replicate its success to help the private equity market redefine its operating model and create competitive advantage amid market uncertainty, increased competition and investor and regulatory scrutiny. |
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