Media

Media

Ultimus LeverPoint Announces Rollout of uINVESTOR to Automate Private Fund Subscriptions

October 12, 2021 | Enhancing alternative fund manager, investor subscription process experiences

CLIFTON PARK, NEW YORK – September 28, 2021 – Ultimus LeverPoint Private Fund Solutions, a leading tech-enabled private fund administrator, is pleased to announce a new digital platform, uINVESTORTM, that automates the private fund subscription process […]

Ultimus LeverPoint Names Todd Werner to Senior Operations Position

September 28, 2021 | Specialist in alternative funds ops to play key leadership role in leveraging technology to continue enhancing the client experience

CLIFTON PARK, NEW YORK – September 28, 2021 – Ultimus LeverPoint Private Fund Solutions, a leading private fund administrator, is pleased to welcome Todd Werner as Senior Vice President, Private Fund Operations to the firm. He will play a central role in working with the client services teams […]

Ultimus LeverPoint Fund Solutions Leads Industry in 2021 Global Custodian Private Equity Fund Administration Survey

September 15, 2021 | Ultimus LeverPoint clients validate the firm’s performance and delivery of superior service

CLIFTON PARK, NEW YORK – September 15, 2021 – Ultimus LeverPoint Private Fund Solutions is pleased to announce that it has earned the highest overall score in Global Custodian’s 2021 Private Equity Fund Administration Survey, significantly outpacing industry averages […]

Ultimus LeverPoint Provides Services for SPACs and SPAC sponsors

June 22, 2021 | Demand for trusted and experienced partners growing with exploding SPAC market

CLIFTON PARK, NEW YORK – June 22, 2021 – As SPACs (Special Purpose Acquisition Companies) have become an increasingly popular and effective alternative route for privately held companies to go public, […]

Ultimus CEO Gary Tenkman Elected to ICI Board of Governors

May 18, 2021 | Mutual Fund Industry Benefits from His Years of Financial Services Experience

CINCINNATI, OHIO – May 18, 2021 – Ultimus Fund Solutions® (Ultimus®) announced today that Gary Tenkman, CEO of Ultimus, has been elected to serve on the Board of Governors of the Investment Company Institute (ICI) to complete the three-year term of Ultimus Co-Founder Bob Dorsey, who retired at the end of March. ICI represents regulated funds globally, including mutual funds and ETFs, and the Board of Governors is responsible for setting ICI policies and overseeing activities to represent funds and their shareholders.

Tenkman commented, “I am honored to be elected to the ICI Board of Governors.  It will be a pleasure and privilege to contribute to the Board’s initiatives and help to promote the interests of shareholders, investment advisers, trustees, and the industry as a whole. At Ultimus, we have a unique perspective on the industry given that we service large institutional asset managers along with entrepreneurial advisers bringing new products to market with particular insight on what those managers are thinking of during what continues to be a quickly evolving environment. I look forward to working with other industry leaders on significant issues facing registered investment vehicles as this business grows and evolves.”

Tenkman has been at the helm of Ultimus as CEO since 2018. He previously served as President and COO since joining Ultimus in 2014. Under Tenkman’s leadership, the firm has experienced tremendous growth as a result of new client mandates, mergers and acquisitions, all while maintaining industry-leading client satisfaction ratings. Currently, the firm services over $350 billion in AUA, providing fund administration for a broad range of fund structures such as actively managed funds, ETFs, tender offer, closed end and interval funds, and services for a wide range of private asset fund structures. Tenkman has more than 30 years of experience in the financial services industry, including in various leadership positions at Citi in their investor services business.

Ultimus is active within the ICI organization, with staff serving on many of its committees and advisory panels. Ultimus is also the leading provider of series trust solutions that represent 100+ fund families with over 240 funds of which those trusts are also ICI members. In total, Ultimus currently services over 1300 registered and private funds.


About Ultimus

Ultimus Fund Solutions (Ultimus) is a leading tech-enabled provider of full-service fund administration, accounting, and investor solutions to support the launching and servicing of registered funds, private funds, and public plans. The company also offers customized structures designed for the unique needs of pensions, endowments, foundations, and other large institutions. Ultimus has a deep commitment to excellence, achieved through investments in best-in-class technology, organization-wide cyber security efforts, and hiring professional staff.

Headquartered in Cincinnati, Ohio with servicing groups in other major cities such as Chicago, New York and Denver, Ultimus employs more than 700 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,300 total traditional and alternative funds, Ultimus helps investment managers and fund families flourish in today’s increasingly sophisticated and dynamic investment landscape. For more information, visit www.ultimusfundsolutions.com.

About ICI

The Investment Company Institute (ICI) is the leading association representing regulated funds globally, including mutual funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts (UITs) in the United States, and similar funds offered to investors in jurisdictions worldwide. ICI seeks to encourage adherence to high ethical standards, promote public understanding, and otherwise advance the interests of funds, their shareholders, directors, and advisers. ICI’s members manage total assets of US$29.1 trillion in the United States, serving more than 100 million US shareholders, and US$9.6 trillion in assets in other jurisdictions. ICI carries out its international work through ICI Global, with offices in Washington, DC, London, Brussels, and Hong Kong. To learn more, visit www.ici.org.

 

12850688 5/18/2021

Ultimus Appoints Frank Anduiza to Lead Sales Management Efforts for Private Fund Administration Services

May 3, 2021 | Firm to leverage Anduiza’s institutional sales experience

Cincinnati, OHIO – May 3, 2021 –  Ultimus Fund Solutions® (Ultimus®), a leading independent technology driven provider of full-service fund administration, accounting, and investor solutions, is pleased to announce the addition of industry veteran Frank Anduiza as Executive Vice President, Head of Private Fund Sales, for Ultimus LeverPoint, the firm’s private fund administration services group. Anduiza will be responsible for new logo revenue of the private fund administration business by driving new client wins and overseeing the private fund business development team at Ultimus LeverPoint (ULP).

“We are very excited to have Frank join our growing team at Ultimus LeverPoint,” commented Gary Tenkman, CEO of Ultimus. “He possesses broad experience in the private fund market segment and keenly understands the financial products that we service. He has a demonstrated ability to deliver results and is well connected to industry business partners. Frank has been successful as both an individual contributor and as a leader overseeing a sales team in the private fund space, and his talent will be critical to expanding our client base.”

Frank J. Anduiza joins Ultimus LeverPoint after departing BNY Mellon as Head of U.S. Business Development where he established and led a sales team focused on selling fund administration services to alternative investment managers in the private equity, hedge fund and real estate segments.

David MacPhee, CEO of Ultimus LeverPoint, is committed to partnering with Anduiza in efforts to grow the firm. “I look forward to working closely with Frank and tapping into his experience and his high level of discipline, energy and focus to help us grow our private fund administration business. Having Frank on our team will allow us to capitalize on our market position and our strong service reputation, and that’s exciting.”

“I am very pleased to join Ultimus LeverPoint and head up the private fund business development efforts,” said Anduiza. “The professionals at ULP have worked diligently to establish the firm as a leading boutique provider in this industry through their delivery of high-value services and a client centric model. Ultimus LeverPoint is poised to take advantage of the market opportunity, especially given their continued investments in industry leading technology.   I look forward to leveraging my institutional experience and knowledge to deliver high quality growth for the firm.”

Prior to his position at BNY Mellon, Anduiza was a business development executive based in New York at Citigroup Prime Brokerage. He also served as a business development executive focused on private markets, helping to creating solutions for large and mid-sized asset managers. Earlier in his career, Anduiza served as counterparty credit officer at both Credit Suisse and JP Morgan.

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About Ultimus LeverPoint
Ultimus LeverPoint Private Fund Solutions (ULP) is a leading fund administrator committed to providing a complete spectrum of solutions to private equity, venture capital and hedge fund clients. The firm provides accounting and fund administration solutions to over 200 firms with approximately $110B in assets under administration. ULP’s asset management clients represent a diverse range of alternative fund types and structures ranging in size from first time firms to established firms.

Whether outsourcing a new fund, or transitioning existing funds, Ultimus LeverPoint serves as a seamless extension of fund management firms – a partner in growth. From traditional to complex structures, ULP’s team of over 225 associates provides operational excellence, in order to meet every need and is dedicated to helping investment managers keep pace with the constantly changing regulatory and market demands, while providing prompt solutions to new challenges. For more information, visit ultimusleverpoint.com.


About Ultimus
Ultimus Fund Solutions (Ultimus) is a leading provider of full-service fund administration, accounting, and investor solutions to support the launching and servicing of registered funds, private funds, and public plans. The company also offers customized structures designed for the unique needs of pensions, endowments, foundations, and other large institutions. Ultimus’ deep commitment to excellence is achieved through investments in best-in-class technology, compliance programs, organization-wide cyber security efforts, and hiring seasoned professionals.

Headquartered in Cincinnati, Ohio with locations in other major cities such as Chicago, New York and Denver, Ultimus employs more than 700 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,300 total traditional and alternative funds, Ultimus helps investment managers and fund families flourish in today’s increasingly sophisticated and dynamic investment landscape. For more information, visit www.ultimusfundsolutions.com.

 

12753789 5/3/2021

Susan Cosgrove Appointed to Ultimus Board of Directors

March 10, 2021 | Seasoned financial executive brings rich experience & strategic vision to Ultimus board

CINCINNATI, OHIO –March 10, 2021  – Ultimus Fund Solutions®, a leading independent provider of full-service fund administration, accounting, and investor solutions, is pleased to announce the appointment of Susan Cosgrove to its Board of Directors. Cosgrove is Managing Director and Chief Financial Officer of The Depository Trust & Clearing Corporation (DTCC), a financial markets infrastructure company that acts as the central counterparty and primary clearing corporation for the U.S. equity markets.

CFO since 2013, Cosgrove leads DTCC’s global finance, treasury, strategic sourcing, real estate, corporate services, and new initiatives oversight teams. She is a member of DTCC’s Management Committee, Management Risk Committee and co-chairs the Investment and Operating Committee. Cosgrove chairs DTCC’s Deriv/SERV LLC Board of Directors, as well as the boards of several of the DTCC trade repositories.

“We are most pleased to welcome Susan to the Ultimus Board of Directors,” said Ultimus CEO Gary Tenkman.  “She has long been instrumental in guiding DTCC’s strategic approach to incorporating new technologies and using fintech to drive efficiencies and reduce risk and costs. She is a powerful advocate for finding the right balance between innovation and disciplined, structured decision-making.
Susan’s vision is aligned with Ultimus’ ongoing commitment to leveraging the industry’s most advanced technology to streamline our operations and provide new solutions for investment managers and their clients. We are excited about the rich experience and insight Susan brings to the table and welcome her contributions to our business.”

“I continue to be impressed by the Ultimus Fund Solutions organization, the depth of its professional talent and the vision of the firm’s leadership,” Cosgrove said. “We share a passion for, and commitment to, innovation, client-centric service and to new and exciting applications for today’s most advanced technology. I look forward to partnering with my fellow Board members to provide strategic guidance and direction to advance the firm’s mission.”

Prior to her current role, Cosgrove was Managing Director and General Manager of Settlement and Asset Services, overseeing all depository businesses, and the General Manager for DTCC’s Equity and Fixed Income Clearing Services. Before that, she served as a senior vice president at Lehman Brothers in charge of audit and compliance for the company’s Americas division and was chief financial officer and head of compliance for 10 years at Maxcor Financial Group. Cosgrove began her career as a senior auditor in PricewaterhouseCoopers’ financial services group.


About Ultimus
Ultimus Fund Solutions (Ultimus) is a leading provider of full-service fund administration, accounting, and investor solutions to support the launching and servicing of registered funds, private funds, and public plans. The company also offers customized structures designed for the unique needs of pensions, endowments, foundations, and other large institutions. Ultimus’ deep commitment to excellence is achieved through investments in best-in-class technology, compliance programs, organization-wide cyber security efforts, and hiring seasoned professionals.

Headquartered in Cincinnati, Ohio with offices in other major cities such as Chicago and New York, Ultimus employs more than 700 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,300 total traditional and alternative funds, Ultimus helps investment managers and fund families flourish in today’s increasingly sophisticated and dynamic investment landscape. For more information, visit www.ultimusfundsolutions.com.

 

12409058 3/9/2021

How the Pandemic Accelerated the Future of the Private Funds Industry

February 23, 2021 | Krista McCoy and Evan Audette, ULPFS discussed the nature of the changes happening in the private markets with Bill Hortz, Institute for Innovation Development.

Prior to the 2020 pandemic and subsequent economic disruptions, assets invested in private markets (including private equity, venture capital, hedge funds, and credit funds) had tripled from $2.5 trillion to $7.7 trillion since the previous Global Financial Crisis. According to The Future of Alternatives 2025 research by Preqin – a leading provider of data, analytics, and insights on the alternative assets community – this trend is expected to accelerate with AUM growth in these alternative assets to average 9.8% per year to 2025. Their study incorporates the impact of the 2020 pandemic into their forecast data. In fact, the pandemic turns out to be providing catalysts for growth and opportunities for private markets managers to invest in areas that have been affected by the pandemic and market disruptions.

This forecast of growth is expected to be driven in part by persistently low interest rates, high valuations and volatility of public markets, diversification expansion needs, and the search for yield and lower correlations. The pandemic also accelerated changes in fund administration technology, service levels, and strategic partnering capabilities that are enabling a level of business agility and resilience that can drive the industry to new opportunities.

Per Preqin: “The fact the industry and its service providers have managed to pivot so quickly in highly unusual times is clearly encouraging. The relationship between funds and their service providers may well evolve and be closer. Times like these that you find out who your valued and trusted partners and counterparties are and benefit over the long term. Working on issues such as increased transparency, fundraising efficiency, stakeholder (GP-LP) relationships.” (Preqin Investor Survey, April 2020)

To get a better understanding of the nature of the changes happening in the private markets, the Institute reached out to Evan Audette EVP, Chief Operating Officer and Krista McCoy EVP, Chief Business Development Officer of Ultimus LeverPoint – one of the largest independent private fund administrators in the country.

Read the full article here.

Ultimus LeverPoint Introduces Enhanced Client Portal, Technology Tools

February 2, 2021 | Technology additions reflect a company culture of responding to client needs

CINCINNATI, OHIO – February 2, 2021  – Ultimus LeverPoint, the private fund administration services arm of Ultimus Fund Solutions® (Ultimus®), is pleased to announce continued investments in  technology that enhance the fund manager and investor experiences while streamlining back-end processing.

Most recently, Ultimus LeverPoint introduced two additional technology tools. First is Ultimus LeverPoint’s  enhanced client portal, through which fund managers and their investors can directly access detailed fund and investor-level data and reporting on-demand. The other, DocuSign software, enables investors, fund managers, and other related parties to obtain and execute subscription documents electronically. Both tools significantly enhance convenience for investors while offering fund managers real-time access to reports, legal documents, and more sophisticated data.

Implementation of these tools is a direct response to clients’ desire for more real-time functionality, ease of use, and visibility into account and fund information and part of the firm’s continuing commitment to expanding its overall technology capabilities. By enhancing clients’ and investors’ digital experience and expanding access to business intelligence for fund managers and their partners, Ultimus LeverPoint has further reinforced its success in combining boutique service with institutional strength.

Ultimus LeverPoint’s enhanced client portal features significantly expanded dashboard reporting functionality. Dashboards customized to individual client brands are interactive and give fund managers and limited partners access to a variety of reports in real time. Through this advanced portal, fund managers can access reporting directly instead of having to request individual reports. Dynamic reports can also be retrieved in real time, giving fund managers and CFOs direct and secure access to accounting data. This streamlined process enables managers to drill down to new levels of fund accounting transaction details and call up reports on demand.

The DocuSign software streamlines document handling and authorization for managers and partners. Instead of having to print, sign, scan and/or transmit documents, clients can now access and execute fund subscription agreement documents electronically with less risk and faster turnaround. This software also enables key data to be uploaded directly into the firm’s client relationship management (CRM) system, enhancing data efficiency and accuracy.

Kelly Ramsey Gooch, EVP, Client Relationship Officer for Ultimus LeverPoint, says that listening to clients reflects Ultimus LeverPoint’s client-centricity. “We are always seeking feedback from our clients to understand their needs, while surveying the expectations of the market and gaps in industry offerings,” she said. ”Then we move in that direction, staying aligned with the priorities of industry demands—those of existing clients as well as prospective ones.”

Looking for ways to continually improve and being results driven reflect other core values of the firm, according to David MacPhee, Chief Executive Officer of Ultimus LeverPoint. “There’s always more to accomplish in terms of the experience we provide our clients and their partners,” he says. “We’ll keep expanding and evolving our offerings, our service delivery and our technology, making it easier for fund managers to execute on their goals. Our service and solutions will always reflect our client’s needs.”


About Ultimus LeverPoint
Ultimus LeverPoint Private Fund Solutions is a leading fund administrator committed to providing a complete spectrum of solutions to private equity, venture capital and hedge fund clients. We provide accounting and fund administration solutions to over 205 firms with approximately $110B in assets. Our asset management clients represent a diverse range of alternative fund types and structures ranging in size from first time firms with $50M AUM to established firms with more than $10B AUM.

Whether outsourcing a new fund, or transitioning existing funds, Ultimus LeverPoint serves as a seamless extension of your firm – a partner in growth. From traditional to complex structures, our team of over 250 associates provide operational excellence, in order to meet every need and dedicated to helping investment managers keep pace with the constantly changing regulatory and market demands, while providing quick solutions to new challenges. For more information, visit ultimusleverpoint.com.

 

About Ultimus
Ultimus Fund Solutions (Ultimus) is a leading provider of full-service fund administration, accounting, and investor solutions to support the launching and servicing of registered funds, private funds, and public plans. The company also offers customized structures designed for the unique needs of pensions, endowments, foundations, and other large institutions. Ultimus’ deep commitment to excellence is achieved through investments in best-in-class technology, compliance programs, organization-wide cyber security efforts, and hiring seasoned professionals.

Headquartered in Cincinnati, Ohio with offices in other major cities such as Chicago, New York and Boston, Ultimus employs over 700 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,200 total traditional and alternative funds, Ultimus helps investment managers and fund families flourish in today’s increasingly sophisticated and dynamic investment landscape. For more information, visit www.ultimusfundsolutions.com.

 

11969167 02/01/2021

Ultimus Names Kelly Ramsey Gooch to Lead Client Relationship Management for Private Fund Administration

December 2, 2020 | Seasoned financial executive brings 25 years of experience in strategic client-facing roles

CINCINNATI, OHIO – December 2, 2020  – As a leading independent provider of full-service fund administration, accounting, and investor solutions, Ultimus Fund Solutions® (Ultimus®) is pleased to welcome Kelly Ramsey Gooch as Executive Vice President, Client Relationship Officer for Ultimus LeverPoint, the firm’s private fund administration services group.

Gooch joined Ultimus LeverPoint in October 2020, bringing 25 years of experience at large fund administrators in senior-level and executive client-facing positions within the registered and private fund administration business. In her role at Ultimus LeverPoint, she is responsible for the development and execution of the relationship management strategy and leading the day-to-day client relationship management efforts to drive client satisfaction, retention and growth.In alignment with Ultimus’ relationship management model, Gooch works closely with the Ultimus LeverPoint relationship management team and clients to focus on strategic engagements with clients, client satisfaction and communication. She is also responsible for internal accountability through planning, advocacy, day-to-day interaction, and best practices designed to drive understanding of clients’ business priorities, deepen client relationships, and help them achieve results.

Prior to joining Ultimus LeverPoint, Gooch’s career focused on developing relationships with alternative asset management clients and driving client satisfaction, having served in key roles with several large, global service providers. In addition to relationship management, Gooch’s experience includes fund administration, operations management, investor services, project management, business development, and client implementations.

“We are excited to welcome Kelly in this key leadership role,” said David MacPhee, Chief Executive Officer of Ultimus LeverPoint. “Her insights and skills in cultivating and building on client relationships at the most senior levels are well-known in the industry and are second to none. She has a proven track record as an accomplished, integrity-driven professional and a well-earned reputation as the ‘go-to’ person for getting things done.”

Ultimus CEO Gary Tenkman said that the addition of Gooch to the Ultimus LeverPoint executive team represents the continued investment in the firm’s client-centric culture and commitment to excellence. “Our client relationships are obviously the foundation of our business, and we continue to invest in the very best resources in the industry—both in terms of talent and technology—to develop strong partnerships with our clients,” he said. “By combining those same values with her exceptional skills and industry experience, Kelly is a driving force in leading our client relationship efforts, both strategically and operationally.”

Gooch received her B.S. in Accounting from Ramapo College of New Jersey and her M.S. in Leadership from Duquesne University. She is currently pursuing a doctorate degree in Strategic Leadership.


About Ultimus LeverPoint
Ultimus LeverPoint Private Fund Solutions (ULP) is a leading fund administrator committed to providing a complete spectrum of solutions to private equity, venture capital and hedge fund clients. The firm provides accounting and fund administration solutions to over 205 firms with approximately $110B in assets. ULP’s asset management clients represent a diverse range of alternative fund types and structures ranging in size from first time firms with $50M AUM to established firms with $19B AUM.

Whether outsourcing a new fund, or transitioning existing funds, Ultimus LeverPoint serves as a seamless extension of fund management firms – a partner in growth. From traditional to complex structures, ULP’s team of over 225 associates provides operational excellence, in order to meet every need and dedicated to helping investment managers keep pace with the constantly changing regulatory and market demands, while providing quick solutions to new challenges. For more information, visit ultimusleverpoint.com.

About Ultimus
Ultimus Fund Solutions (Ultimus) is a leading provider of full-service fund administration, accounting, and investor solutions to support the launching and servicing of registered funds, private funds, and public plans. The company also offers customized structures designed for the unique needs of pensions, endowments, foundations, and other large institutions. Ultimus’ deep commitment to excellence is achieved through investments in best-in-class technology, compliance programs, organization-wide cyber security efforts, and hiring seasoned professionals.

Headquartered in Cincinnati, Ohio with offices in other major cities such as Chicago, New York and Boston, Ultimus employs more than 700 seasoned accountants, attorneys, paralegals, application developers, fund administrators, compliance specialists, and many others with years of experience in the financial services industry. Servicing over 1,300 total traditional and alternative funds, Ultimus helps investment managers and fund families flourish in today’s increasingly sophisticated and dynamic investment landscape. For more information, visit www.ultimusfundsolutions.com.

11514561 12/02/2020