Report highlights best practices for firms with SBIC licenses and those planning to launch an SBIC fund
WEST ORANGE, NJ (March 6, 2018)—PEF Services, a leading fund administrator for Alternative Investment Managers, today announced the release of a new white paper entitled “The Definitive Guide to SBIC Fund Administration.” SBIC funds are a highly attractive private equity investment option, enabling GPs to access government leverage at low rates that enhance returns. SBIC funds also come with more complex compliance and reporting requirements, and those requirements are changing all the time.
Drawing on PEF’s extensive track record in SBIC fund administration, this white paper will help General Partners who are considering the launch of an SBIC, or have already launched one, to determine whether they are ready to handle the additional requirements and maximize the benefits of this fund strategy.
The white paper covers:
- Issues to consider to determine readiness for the SBIC program requirements.
- Key factors that ensure success with the challenging compliance and reporting environment.
- Best practices for SBIC fund administration.
- A checklist and resource references to help select a fund administrator for an SBIC fund.
“SBIC fund administration is complicated, and requires the close oversight and involvement of someone with senior-level expertise and a specialized knowledge of SBA requirements and regulations,” said Anne Anquillare, CEO and President, PEF Services LLC. “With an SBIC, being trained, prepared, and informed is essential.”
Whether a firm chooses to administer an SBIC fund in house or partner with a third-party fund administrator, the core success factors are the same: clear, documented processes based on best practices, leading technologies, and an ongoing commitment to industry training and networking.
“We believe that Multiplier Capital has earned the respect and confidence of our investors by delivering our financial reporting accurately, professionally and in a timely manner,” commented Kevin Sheehan, Managing General Partner, Multiplier Capital. “PEF, which has substantial expertise as a fund administrator in the SBIC space, has been really helpful in enabling us to manage through the complexities inherent in an SBIC fund.”
“Compared with a regular private equity fund, SBIC funds must collect and submit at least three times the amount of data in half the amount of time,” commented Hank Boggio, Chief Revenue Officer, PEF Services LLC. “With this level of complexity, the back office must be ready to take on a heavier task load related to compliance and reporting.”
This white paper is the fourth in a series in support of PEF’s commitment to deliver valuable thought leadership content. The white papers can be found in the Thought Leadership section of PEF’s website.
About PEF Services LLC
PEF Services provides high-value, high-touch Fund Administration solutions supported by senior professionals with extensive experience in alternative investments. PEF has a 15-year track record of delivering cost-effective solutions to Funds and General Partnerships, including Buyout, Venture, Real Estate, Special Purpose Vehicles, Mezzanine, Credit, SBIC, and Fund of Funds. The firm’s LP Administration Solutions Group (LPAS) focuses solely on meeting the unique administration and data needs of limited partners investing in illiquid alternative assets. In partnering with PEF, firms increase operational efficiency, reduce and control operating costs, improve focus on core capabilities, and gain access to experts in private capital back office operations. For more information please visit www.pefservices.com.