NAV Fund Administration Group Releases Major Upgrade to its Private Equity and Venture Capital Software
(PRWEB) August 14, 2018 -- NAV is proud to announce the release of its new software platform for Private Equity and Venture Capital funds. Following months of development and testing, NAV released the new software in May and began migrating its current clients in June. “We see Private Equity and Venture Capital funds as a major growth area for us over the next decade,” said Nav Gupta, CEO of NAV. “There is still a lot of self-administration in this space, and those funds that are outsourcing are underserviced due to a lack of technology.”
In the new upgrade, NAV has completely automated the capital call and distribution process. This includes calculating interest/expense catchups, tracking recycling provisions, setting up Distribution wires, and tracking delinquent payments. NAV’s software will also generate and deliver Capital Call and Distribution Notices, which can be customized to each specific client’s requirements. Other upgrades include expanded functionality for carried interest calculations, to allow for thousands of different waterfall calculations, and enhanced automation in calculating IRR.
“Having our own proprietary technology platform gives us a lot of flexibility,” said Sudha Gupta, CTO of NAV. “When we began this project, our goal was to build the most robust system to service this market, without taking any shortcuts. We are very pleased with the end product and know that are clients will be too.”
About NAV Fund Administration Group
NAV Fund Administration Group (“NAV”) is a fund administrator with over 27 years of experience in providing a comprehensive fund service offering including, accounting, reporting, investor servicing, and middle and back-office support to the hedge fund industry. NAV is ranked among the top 10 fund administrators in the world by number of funds. With assets under administration of US$65 billion, NAV employs over 500 people that serve a global client base of over 800 clients. NAV is differentiated in the industry by its independence, proprietary technology and client retention. https://www.navconsulting.net/
Ashley Starcevich, NAV Fund Administration Group, http://www.navconsulting.net, +1 (630) 954-1919 Ext: 118, [email protected]
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