Fund administrator Alter Domus taps Temenos for Multifonds platform
Luxembourg-based fund administrator Alter Domus has selected Swiss core banking vendor Temenos and its Multifonds platform to support the expansion of alternative investments to retail investors.
Alter Domus picks Temenos’ Multifonds platform
With the European Commission’s European Long-Term Investment Fund (ELTIF 2.0) regulations coming into play earlier this year, the investment firm says it wanted to quickly implement a platform “that could manage a significant increase in transaction volumes” and automate and streamline its investment operations.
Having come into force at the start of the year, ELTIF 2.0 forms the European Commission’s latest attempt to attract more retail investors to long-term private asset investment funds, which are used to finance infrastructure projects in the region.
The latest update has sought to increase the scope of the funds, lifting restrictions that have been in place since their inception in 2015.
This includes revised measures regarding minimum investment requirements, liquidity management procedures, the eligibility of alternative fund assets, and how ELTIFs are marketed to retail investors, among other developments.
In response to this, Alter Domus – which claims to support 85% of the top 30 asset managers with fund administration, private debt, and corporate services – has opted to leverage Temenos’ automated fund management platform Multifonds.
The vendor says its tech will help streamline the administrator’s investment operations with its European transfer agency services “with the possibility to move other activities and geographies onto the platform in the future”.
It adds that the platform will enable Alter Domus to manage “an unlimited number of investors” and “a significant increase in transaction volumes”, while automating functions including commitment tracking, capital calls, valuation, drawdowns, distributions, and fee processing.
Alter Domus is also making use of Multifonds’ liquidity management tools for gating, fund lock-ups, side pockets, and transaction-level fees, as well as utilising its digital onboarding and due diligence capabilities.
Temenos claims the administrator went live with the solution “in under six months”.
