Temenos has introduced Alter Domus, a provider of tech-enabled fund administration, private debt, and corporate services for the alternative investment market, onto its automated fund management platform, with the solution implemented in less than six months.
Alter Domus sought to swiftly put in place a scalable, affordable infrastructure that could handle a noticeable rise in transaction volumes since the ELTIF 2.0 regulations, which will become more available to a broad range of retail investors in January 2024, will make alternative investments more accessible.
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Temenos Multifonds Global Investor Servicing was selected by the fund administrator to manage and optimise its investment operations.
The platform will be used for transfer agency services in Europe, with the option to add additional activities and regions.
Alter Domus can use the Temenos Multifonds platform to enrol a limitless amount of investors and automate a variety of processes such as commitment tracking, capital calls, valuation, drawdowns, payouts, and fee processing.
Moreover, the platform also includes all of the liquidity management features required by the ELTIF, such as gating, fund lockups, side pockets, and transaction-level fees, as well as the ability to unitise any fund.
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By GlobalDataAlter Domus plans to employ the agile and cloud-native solution for the entire investor life cycle, encompassing digital onboarding, due diligence for AML and KYC, and MiFID II classification and appropriateness evaluation.
In addition, Temenos’ extensive international experience in managing over 40,000 traditional and alternative funds in 35 different countries will be advantageous to Alter Domus.
Antonis Anastasiou, group head of product development, Alter Domus, said: “We’re delighted to have implemented this new fund administration platform in just six months, allowing us to rapidly expand our capabilities to service open-ended fund characteristics. Our technological capabilities are key in helping us support fund managers to take advantage of opportunities in alternative investments. With Temenos, we will benefit from leading technology, used by the world’s top fund managers, to help drive our growth.”
Sern Tham, global head of product, Temenos Multifonds, added: “As fund administrators look to adapt to the ELTIF 2.0 regulations, having a scalable, cost-efficient platform with appropriate liquidity management tools will be crucial for them to take advantage of the retailisation of private equity. This successful implementation demonstrates Temenos’ ability to deliver fast, flexible fund administration solutions for alternative asset classes such as private equity as well as traditional funds. We look forward to helping Alter Domus drive operational efficiencies through technology and grow its business.”
Alter Domus, which has its headquarters in Luxembourg and extensive activities in the US, employs more than 5,100 people in 38 offices worldwide.
With a sole concentration on alternative investments, the company manages $2.2trn in assets and works with 85% of the top 30 asset managers, providing them with modern technology and multijurisdictional knowledge to help them navigate the difficulties of fund management.
