Socium Fund Services, a Suntera Global Company, Bolsters its Back-Office Technology with Cascata 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.
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.
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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