Gen II Fund Services Receives 10th Annual System and Organization Controls Type 2 Compliance
NEW YORK, Jan. 29, 2019 /PRNewswire/ -- Gen II Fund Services, LLC, the largest U.S. based independent private equity fund administrator, announces the successful completion of an independent examination of its Administrative, Accounting and Reporting Services.
The independent examination – System and Organization Controls (SOC) 1 Type 2 in accordance with Statement on Standards for Attestation Engagements No. 18 issued by the AICPA (SSAE 18) – marks the tenth consecutive year that Gen II has achieved an unqualified report on its control environment. A major international accounting firm examined the design and effectiveness of Gen II's specified controls for the period December 1, 2017 to November 30, 2018.
"Gen II's SSAE 18 is a vital qualification for our clients and their investors," said Steven Alecia, Gen II's Chief Client Officer. “General Partners and Limited Partners rely upon our annual SSAE 18 examination to satisfy their operational due diligence assessments. The SSAE 18 validates that our dedicated service team model, internal quality control department, and most experienced team in the industry enable us to continually raise the bar for best-in-class private equity fund administration.”
Gen II's service and control environment is developed and delivered in adherence with established industry best practices. For Gen II's clients, the SSAE 18 report provides evidence that Gen II has adequately described, in all material respects, its controls and, that its controls were suitably designed and operating effectively to achieve their specified objectives.
About Gen II Fund Services
Gen II Fund Services, LLC is the largest U.S. based independent private equity fund administrator, covering over $235 billion of private capital on behalf of our clients. Gen II offers private fund sponsors the best-in-class combination of people, process and technology, enabling GPs 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, fund of funds, real estate, infrastructure, credit, co-investment, hybrid funds, feeder funds, venture capital, retail and managed accounts. For more information, please visit www.gen2fund.com.
Contact
Jeff Gendel
Principal – Business Development
Gen II Fund Services, LLC
212-408-0501
[email protected]
SOURCE Gen II Fund Services, LLC
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