Specialized asset management firm outsources SBIC fund administration to increase operational efficiencies
WEST ORANGE, NJ (May 25, 2021) – PEF Services LLC (“PEF”), a leading fund administrator for alternative investment managers, today announced that it has been selected to provide fund administration services to Star Mountain Capital, LLC (“Star Mountain”). PEF’s deep experience with SBIC fund administration, its services team, leading-edge fund accounting platform, and PEF’s investor portal, ViewPoint™, will support Star Mountain.
With nearly $2 billion in AUM and over 45 full-time people supported by 35+ additional senior advisor and operating partners, Star Mountain is a 100% employee-owned specialized investment firm focused exclusively on the U.S. lower middle-market by investing debt and equity directly into established operating companies, making strategic investments into fund managers and purchasing secondary fund (LP interests) and assets. The firm has completed over 100 direct debt and equity investments since inception.
“Star Mountain has been a long supporter of the successful SBIC program, a public-private partnership managed by the SBA helping to bring strategic financing to small and medium-sized businesses. We are honored to provide additional strategic capital to growing U.S. lower middle-market companies,” said Brett Hickey, Founder & CEO of Star Mountain.
“PEF’s reputation in the market for its SBIC expertise, providing exceptional service to clients and their targeted technology platform are all factors in our selection process. Partnering with PEF Services will enable us to gain operational efficiencies that allow us to focus on the strategic growth of our business,” said Christopher Gimbert, Chief Financial Officer of Star Mountain.
PEF Services is nationally recognized as one of the top private capital fund administrators supporting multiple fund types and investments including SBICs, real estate, buyout, venture, debt, co-investment, SPVs, and fund of funds. PEF’s services include fund accounting, financial reporting, administration and compliance, capital management, AML/KYC investor services, treasury services, consulting, and coordinated fulfillment of all investor deliverables.
“As a highly sophisticated investment manager, we are delighted that Star Mountain has chosen to outsource their SBIC fund administration to PEF,” said Anne Anquillare, CFA, CEO and President, PEF Services LLC. “We look forward to supporting their endeavors to achieve greater efficiencies while focusing on strategic initiatives.”
About Star Mountain Capital
Investing in the Growth Engine of America® – Star Mountain Capital is a specialized investment firm focused on investing in the large and underserved U.S. lower middle-market of companies that generally have at least $15 million of annual revenues. Star Mountain manages nearly $2 billion of AUM through customized and commingled funds for some of the world’s most sophisticated investors, including individuals, family offices, insurance companies, wealth managers, endowments / foundations and pension plans. Star Mountain’s distinctive business includes a custom-built media and technology platform and brings significant, large market resources to smaller businesses as a value-added lender and investment partner.
As part of its ESG program (Environmental, Social and Governance), Star Mountain’s Charitable Foundation, a not-for-profit 501(c)3 focuses on improving lives through economic development, including job creation, health and wellness and cancer research. Notable missions include helping match veterans and women with high quality small and medium-sized business career opportunities across the country, including within Star Mountain’s portfolio, which in aggregate represents over 200 companies. To learn more about Star Mountain, visit www.StarMountainCapital.com.
About PEF Services LLC
PEF Services is the new standard in providing high-value, high-touch Fund Administration services, and technology solutions that elevate operational performance to drive and support sustainable growth. Supported by senior professionals with extensive experience in alternative investments, PEF has a track record of nearly 20 years in delivering cost-effective, best-in-class solutions to Funds and General Partnerships, including Buyout, Venture, Emerging Managers, Real Estate, Debt, Fund of Funds, Co-investment, SPVs and SBICs. Additionally, the firm’s LP Administration Solutions Group focuses solely on meeting the unique administration and data needs of limited partners investing in illiquid alternative assets. PEF’s ViewPoint™ provides clients with a purpose-built portal that delivers greater visibility and real-time access to underlying investment performance data sourced directly from the official books and records of the fund. In partnering with PEF, firms increase operational efficiency, control operating costs, improve focus on core capabilities, and gain access to experts in private capital back office operations. For more information, please visit https://www.pefservices.com/.
Senior Vice President