Temenos (SIX: TEMN) today announced that Alter Domus, a leading provider of tech-enabled fund administration, private debt, and corporate services for the alternative investment industry, has gone live on Temenos’ automated fund management platform, implementing the solution in under six months.
Headquartered in Luxembourg, with large operations in the US, Alter Domus has more than 5,100 employees across 38 offices globally. Solely focused on alternative investments, the firm has $2.2tn of assets under management and serves 85% of the top 30 asset managers, helping them to handle the complexities of fund management through advanced technology and multijurisdictional expertise.
With the ELTIF 2.0 regulations coming into effect in January 2024, making alternative investments more accessible to a large pool of retail investors, Alter Domus wanted to quickly implement a scalable, cost-efficient platform that could manage a significant increase in transaction volumes. The fund administrator chose Temenos Multifonds Global Investor Servicing to automate and streamline its investment operations, initially for transfer agency services in Europe, with the possibility to move other activities and geographies onto the platform in the future.
Using the Temenos Multifonds platform allows Alter Domus to onboard an unlimited number of investors and automate a wide range of activities including commitment tracking, capital calls, valuation, drawdowns, distributions, and fees processing. The platform is also equipped with all ELTIF-required liquidity management tools, such as gating, fund lock-ups, side pockets, and transaction-level fees, with the ability to unitize any fund.
The cloud-native, agile solution will be used by Alter Domus across the full investor life-cycle, including digital onboarding, AML and KYC due diligence, and MiFID II classification and appropriateness assessment. Alter Domus will also benefit from Temenos’ global experience supporting over 40,000 funds, both traditional and alternative, across 35 jurisdictions worldwide.
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, commented: “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 retailization 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.”