Gen II Fund Services Receives 2021 System and Organization Controls (SOC 1) Type II Compliance Report

NEW YORK, Feb. 24, 2022 /PRNewswire/ -- Gen II Fund Services, LLC, a leading independent private equity fund administrator, announced today the successful completion of the firm's System and Organization Controls (SOC 1), Type II Compliance Report.

The SSAE 18 is a set of guidelines for reporting on the level of controls at a service organization. The SOC 1 Type II audit tests and reports on the fairness of the presentation of the management's description of the service organization's system, as well as the design and operating effectiveness of its controls. 

A major international accounting firm conducted an independent audit to examine the design and operating effectiveness of Gen II's controls for the period from December 1, 2020 to November 30, 2021. The report certifies, for Gen II clients and the private equity community, the strong back-office controls at Gen II. It also affirms that the firm has adequately described its internal controls and processes that are in place to achieve client objectives.

"Quality, as defined through compliance with reporting standards, governing documents and internal policies and procedures, is integral to our culture as demonstrated by the establishment of the Quality Control Department at inception," said Merryn Rosewall, Principal – Quality Control at Gen II. "An unqualified SSAE 18 attestation is of critical importance to our clients, their limited partners and our business."

"This report reflects our core philosophy and results from the hard work and dedication of our people," said Steven Millner, Managing Principal and Co-Founder, Gen II. "Together with our leading technology solutions and experienced team, this achievement provides a robust foundation on which we continue to advance our service offerings."

About Gen II
Gen II is a global fund administrator with more than $650 billion of private fund capital under administration.  As the second largest private equity fund administrator in the United States, Gen II focuses solely on the alternative asset management space, including private equity, real estate, credit managers, fund-of-funds, and emerging managers. The company provides private fund sponsors with a best-in-class combination of experienced people, streamlined processes, and proprietary technology solutions to help GPs manage their operational infrastructure, reporting, and investor communications. For more information, please visit www.gen2fund.com.

Contact:
Philip Nunes
BackBay Communications
617.391.0792
[email protected]

SOURCE Gen II Fund Services, LLC

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