Private equity professionals
Private equity administration
Structures & funds administered
SANNE’s Private Equity business provides clients with the full suite of fund administration, corporate administration, depositary and portfolio monitoring services.
Our team of more than 175 specialist private equity professionals manages more than 500 structures for some 100 clients and funds, administering assets in excess of £30bn.
The business utilises the group’s global office network and capabilities spanning the Americas, Europe, Africa and Asia-Pacific to service our global client base. Our offering was further strengthened in 2016 by the acquisition of FLSV Fund Administratyion Services LLC in the US, providing SANNE with a high quality platform to meet the needs of clients in the world’s largest market for alternative asset management.
We act for institutional private equity managers, asset managers and family offices. We have expertise and experience in the administration of all types of strategies including Private Equity, Buy-out, Venture, Infrastructure, Secondaries and Fund of Funds.
Private Equity services
Private Equity Fund Administration
Our dedicated Private Equity focused fund administration business teams perform a full range of services, including fund establishment, regulatory applications, transaction management, administration, corporate governance and financial reporting. Our services include:
- Fund structure implementation
- Investor client due diligence checks
- Launch, closings and equalisations
- Domiciliation and provision of directors
- Capital call / distribution activity
- Deal process management
- Cash management and Treasury services (link to ITS team)
- Asset safeguards including safe custody and provision of bank signatories
- Regulatory compliance
- Compliance with local regulatory regimes
- Assistance with AIFMD Risk and Portfolio monitoring
- AIFMD Annex IV Reporting
- Portfolio monitoring and reporting – Limited partnership interests and direct portfolios
- Financial reporting
- NAV and performance calculations
- Waterfall and incentive allocation calculations
- Investor reporting including ILPA reporting
- FATCA/CRS reporting
- Investor communications
- Listed funds stock exchange continuing obligations
SANNE provides asset specialist support to boards of directors, enabling them to fulfil their fiduciary duties. Clients have full access to SANNE’s infrastructure, including the provision of compliance, MLRO and regulatory support.
We provide each board of directors with a specialised company secretary and a Lead Relationship Director who will assist the board in selecting, implementing and monitoring an appropriate corporate governance framework. The Company Secretary will ensure the implementation of a regular board meeting schedule, ensuring that directors are provided with timely comprehensive board materials and minutes.
SANNE’s strong controls culture means that documented and tested procedures are implemented for each structure, ensuring that all company law, partnership law and regulatory continuing obligations are met.
SANNE offers clients both limited partnership interest and direct investment portfolio monitoring services, including details, bespoke drill down and performance reporting. The portfolio monitoring services include:
- Tracking transactions for direct holdings at the portfolio company level
- Tracking detailed fund activity on a granular level for Fund of Funds or institutional limited partners
- Document investment structures
- Tracking portfolio IRR’s
- Tracking management and performance fees for underlying fund interests on a standalone and cumulative basis
- Comparison of portfolio company budgeting and forecasting against results
- Tracking of withholding tax
SANNE has in-depth accounting and administration experience across all private investment sectors in developing waterfall models for Carried Interest programs. We offer a broad range of services, including consulting, accounting and verification services for waterfall and incentive allocation models.
Our dedicated Depositary team provides AIFMD compliant depositary services to private equity, debt, real estate and bespoke asset class fund managers from our offices in the Channel Islands, London and Luxembourg. Our specialist teams can deliver depositary services alongside our fund administration offering where policies and procedures will be dovetailed to avoid duplication of activity, ensuring the most efficient operation of the fund.
We have worked in conjunction with KPMG to develop an ISAE 3402 compliant platform for the delivery of depositary services. Areas of expertise include:
- Safekeeping and verification of documentation and assets
- Trustee / fund safe custody services
- Maintenance of comprehensive asset registers
- Operational oversight ensuring compliance with fund documents and applicable laws and regulations
- Cash monitoring and document tracking
- Regular document reconciliation and sub-custodian liaison
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