4Alts Selects Sudrania For Hedge Fund Platform Administration
Sudrania’s technology solution enables 4Alts to offer emerging managers a scalable fund platform with institutional reporting and risk management capabilities while keeping the cost low to make it easily accessible.
4Alts, LLC (“4ALTS”) has selected Sudrania Fund Services (“Sudrania”) to provide fund administration and related services to the multi-manager platform with daily liquidity capability.
4Alts was recently created by former HFR and AON executives from Chicago; past HFR Asset Management president John Klimek and Aon pros Paul Sylvia and Rishi Awatramani. The 4ALTS Platform was established with the combined goals of providing a low-cost, all-inclusive solution for emerging managers and providing under-served investors access to small and niche alternative funds. “4Alts has a very experienced management team and they are taking the right steps to implement new technology into the business. Together we can offer an improved service experience for alternative fund managers as well as improved risk management controls,” says Nilesh Sudrania, Founder and CEO of formidium. According to Sylvia, many studies describe how emerging managers outperform, but these managers often struggle with operational management, legal structuring, and risk management, with 4Alts designed to bridge these gaps.
It was determined that Sudrania is a great fit as the technology provided aligned well with 4Alts admin requirements. Sudrania’s Seamless Solution Software (“Seamless”) is SOC2 (Type II) audited, offers Daily NAV, and has the ability to handle a large volume of transactions, investors, as well as managers. Sudrania also allows daily liquidity for fund investors. A subscription or redemption can be processed as soon as 1 full business day. “Sudrania’s technology gives us a more flexible cost structure. These savings get passed on to platform investors. Our investors have access to their capital accounts updated on a daily basis and accessible via Sudrania’s cloud-based platform.” says Paul Sylvia, Principal of 4Alts.
Seamless Solution is Sudrania’s multi-asset-class, multi-currency, scalable platform that works equally well for SMAs, single manager funds, multi-manager funds, and is a single database of the portfolio, fund, and investor accounting and reporting. Sudrania has recently launched its new investor platform Common Sub Doc (CSD), to their arsenal of software. CSD offers automated investor onboarding experience with built-in AML/KYC processing capabilities and gives greater flexibility to the investors and the fund managers. CSD has also integrated the e-signature feature to enable e-signatures on the subscription agreements as the next step in cutting down the paper.
Sudrania Fund Services is registered with the SEC as a transfer agent and its fund administration service operations are SOC 1 (Type II) audited.
Sudrania was founded in 2016 in Chicago, IL, and developed Seamless Solution that redefines back-office operations and reporting for investment managers, and provides a new technology alternative to legacy solutions for buy-side managers. Sudrania’s offices are located at 633 Rogers St, Suite 106, Downers Grove, IL 60515. For more information, please visit Sudrania’s website at sudrania.com.
4Alts is a managed account platform focused on managers running between $5m and $500m across a wide range of asset classes, including hedge funds, special situations, direct lending, real estate, and private equity. It aims to offer investors transparency, risk management monitoring, and the capability for daily NAVs. For managers, 4Alts offers a low-cost alternative fund structuring option and will look to provide access to high-net-worth and institutional allocators. The flexibility of the platform provides an ability to create both onshore and offshore fund structures, master/feeder structures in addition to a series of SMAs.
Sudrania’s offices are located at 633 Rogers St, Suite 106, Downers Grove, IL 60515. For more information, please visit Sudrania’s website at sudrania.com.
Sudrania Fund Services is registered with the SEC as a transfer agent and its fund administration service operations are SOC 1 (Type II) and the technology platform, including Seamless 2020 are SOC 2 (Type II) audited.