Gen II Fund Services Receives 7th Annual Service Organization Control Type 2 Compliance

NEW YORK, March 2, 2016 /PRNewswire/ -- Gen II Fund Services, LLC, a leading independent private equity fund administrator, today announced the successful completion of an independent examination of its Administrative, Accounting and Reporting Services. 

The independent examination – Service Organization Control Type 2 (SOC 1) in accordance with Statement on Standards for Attestation Engagements No. 16 issued by the AICPA (SSAE 16, formerly SAS 70) – marks the seventh 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, 2014 to November 30, 2015.

Gen II has committed to annual certification of its control environment as a core element of its differentiated service model. "The SSAE-16, combined with our dedicated service team approach, internal Quality Control department, SEC Cybersecurity compliance, unmatched performance, and the most experienced team in the private equity fund administration industry are all important differentiators for our clients and their investors," said Gen II Chief Client Officer Steven Alecia. "Each of these items is a vital part of our service offering and Firm infrastructure.  We know these attributes are required by all investors, fund managers and regulators as the focus intensifies on independent, transparent and quality operational procedures."                                                                   

Gen II's service and control environment is developed and delivered in adherence with established industry best practices. For Gen II's clients, the SOC 1 report provides them with confidence 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 independent private equity fund administrator, covering over $100B of private capital and reporting to over 7,500 LPs 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, infrastructure, energy, credit, real estate, co-investment, hybrid funds, funds of funds, venture capital, and managed accounts.  In Global Custodian's most recent survey of private equity fund administrators, Gen II received the highest scores among all firms surveyed.  For more information, please visit www.gen2fund.com.

Contact:
Jeff Gendel
Managing Director
Gen II Fund Services, LLC
212-408-0501
[email protected]

SOURCE Gen ll Fund Services, LLC

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