Strata Fund Services Chooses Penny–It Works Software for Fund Administration, Accounting, and Reporting

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Strata, a growing fund administrator, announced today that it had adopted TKS Solutions’ Penny – It Works system for back office accounting.

During our rigorous assessment process, Penny - It Works handled a wide variety of real-life scenarios in nearly every type of fund.

- Jared Broadbent, Managing Partner, Strata Fund Service

TKS Solutions a leading provider of partnership and shareholder accounting software for the financial industry, today announced that it has been licensed by Strata Fund Services to provide a full fund accounting, third party administration, and reporting solution using its Penny – It Works system.

Strata Fund Services provides high-quality administration services to the alternative investment industry. With a deep and broad base of expertise in administration, tax, audit, and consulting services, Strata services some of the most complex hedge funds, private equity funds, fund of hedge funds, fund of private equity funds, registered funds, offshore funds and managed account.

Key considerations in Strata’s selection process were the ability to handle both shareholder and partner accounting, master / feeder structures, complex allocations, and fund of funds. Of equal importance were robust and customizable reporting features, so that Strata could tailor reporting to each client’s requirements.

Jared Broadbent, a managing partner in the firm, explains “During our rigorous assessment process, Penny–It Works handled a wide variety of real-life scenarios in nearly every type of fund. The system is easy to use and easy to initialize, so we can deploy now and back-fill later for clients that want a full history in the system. Equally importantly, Penny is backed by a knowledgeable and responsive team. We bring high value to our clients and TKS’s accounting solution will enhance our client offering and support our growth.”

“Strata’s use of Penny demonstrates our commitment to helping alternative investment accountants create the most optimal and transparent accounting workflows for firms, their clients, and their investors," said Ron Kashden, founder of TKS Solutions. "Penny's unique offerings allow fund administrators to maximize benefits for their clients, which in the current climate, is crucial."

About Strata Fund Services

Strata Fund Services LLC is a full service administrative firm providing high-quality administration and consulting services to the alternative investments industry. Strata provides unparalleled service to hedge funds, private equity funds, fund of funds, and managed accounts. Core services include financial accounting and reporting, investor servicing, tax compliance services, audit coordination and consulting. For more information, please visit:

About TKS Solutions

TKS Solutions offers a unified partnership and shareholder accounting solution for the financial industry. Its flagship software, Penny- It Works, is used to manage upwards of 600 onshore and offshore funds by providing automated and instant access to detailed investor data, performance, fees, and transactions. Penny's open architecture facilitates easy integration with portfolio accounting systems, data warehouses and proprietary solutions. Leading fund administrators, hedge funds, investment management companies, and private equity firms with assets under management of ranging from $50 million to $100 billion use Penny. For more information, please visit

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Kelly Franklin
TKS Solutions
(914) 358-0016
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