Temenos supports Alter Domus following ELTIF regulations

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Temenos has announced that Alter Domus, a fund administrator, has gone live on Temenos’ automated fund management platform Temenos Multifonds.

The Temenos Multifonds platform will allow Alter Domus to onboard an unlimited number of investors and automate several activities, such as commitment tracking, capital calls, valuation, drawdowns, distributions and fees processing.

Additionally, the platform offers essential liquidity management tools mandated by ELTIF, including gating, fund lock-ups, side pockets and transaction-level fees, as well as the flexibility to unitize any fund.

Antonis Anastasiou, Group Head of Product Development at Alter Domus, said: “We’re delighted to have implemented this new fund administration platform in just six months, allowing us to rapidly expand our capabilities to service open-ended fund characteristics.

“Our technological capabilities are key in helping us support fund managers to take advantage of opportunities in alternative investments. With Temenos, we will benefit from leading technology, used by the world’s top fund managers, to help drive our growth.”

Based in Luxembourg and with significant operations in the US, Alter Domus boasts over 5,100 employees spread across 38 offices worldwide. As a specialist in alternative investments, the company manages $2.2trn in assets and supports 85% of the top 30 asset managers. 

A main driving force of the agreement was the introduction of the ELTIF 2.0 regulations in January, which made alternative investments more accessible to a large pool of retail investors. In response, Alter Domus wanted to quickly implement a scalable, cost-efficient platform that could manage a significant increase in transaction volumes.

Upon selecting Temenos, the fund administrator will be able to automate and streamline its investment operations, beginning with transfer agency services in Europe, with the potential to extend the platform to cover additional activities and regions in the future.

Sern Tham, Global Head of Product at Temenos Multifonds, commented: “As fund administrators look to adapt to the ELTIF 2.0 regulations, having a scalable, cost-efficient platform with appropriate liquidity management tools will be crucial for them to take advantage of the retailisation of private equity. 

“This successful implementation demonstrates Temenos’ ability to deliver fast, flexible fund administration solutions for alternative asset classes such as private equity as well as traditional funds. We look forward to helping Alter Domus drive operational efficiencies through technology and grow its business.”

Recently, Temenos has been supporting other firms with another of its cloud based platforms. Earlier this month, Payee service SurePay launched its solutions on Temenos Exchange in preparation for various incoming payment regulations.