Gen II Fund Services Receives Its 2019 System And Organization Controls (SOC 1) Type II Compliance Report
January 29 2020
NEW YORK, Jan. 29, 2020 - Gen II Fund Services, LLC, a leading global private equity fund administrator, announces the successful completion of its System and Organization Controls (SOC 1), Type II Compliance Report.
A major international accounting firm examined the design and effectiveness of Gen II's controls for the period December 1, 2018 to November 30, 2019. Gen II's service and control environment is developed and delivered in adherence with the fund administration's industry best practices. The report also provides Gen II clients and the private equity community confirmation that they have adequately described its controls and that those controls are designed and operating effectively to achieve client objectives.
"The recognition of a successful SOC 1, Type II examination is crucial for our clients and their investors" said Steven Alecia, Gen II's Chief Client Officer. "General Partners and Limited Partners rely upon our annual SOC 1 to satisfy their operational and due diligence assessments. The examination validates that our internal quality controls helps ensure the delivery of best-in-class private equity fund administration services."
About Gen II Fund Services Gen II Fund Services, LLC is one of the largest global independent private equity fund administrators, administering over $300 billion of private capital on behalf of its clients with offices in New York, San Francisco, Boston, Stamford, Dallas, and Luxembourg. Gen II offers private fund sponsors a best-in-class combination of people, process, and technology, enabling fund sponsors to most effectively manage their operational infrastructure, financial reporting, and investor communications. The Gen II team is the most experienced and longest tenured team in the private equity fund administration industry, with broad expertise across buyout, funds of funds, real estate, energy, infrastructure, credit, co-investment, hybrid funds, feeder funds, venture capital, retail, and managed accounts.