Leading real estate investment firm outsources fund administration to drive growth
WEST ORANGE, NJ (September 18, 2018)—PEF Services, a leading fund administrator for alternative investment managers, today announced that it has been selected to provide fund administration services to Terravet Real Estate Solutions’ second fund. PEF’s experienced fund administration services team and leading-edge fund accounting platform will support Terravet’s second fund.
Terravet Real Estate Solutions provides veterinary practice owners with custom tailored real estate solutions and financial resources to help them achieve long-term success.
“Terravet Real Estate Solutions funds have been self-administered since the firm’s founding, and outsourcing will enable us to focus more completely on our investment activities to drive growth,” said Daniel Eisenstadt, Chairman and CEO of Terravet Real Estate Solutions. “We selected PEF Services for its reputation in providing high value services to its clients and the technology platform upon which they support clients.”
PEF Services is nationally recognized as one of the top boutique fund administrators and back-office specialists for both General Partners and Limited Partners in the alternative asset space. The firm’s services include partnership accounting, financial reporting, capital call and distribution processing, investor capital account maintenance, audit and tax return support and coordinated fulfillment of all investor deliverables.
“We are delighted that Terravet Real Estate Solutions chose to outsource fund administration to PEF,” said Hank Boggio, Chief Revenue Officer of PEF Services. “Outsourcing will support Terravet’s efforts to drive future growth while focusing on strategic initiatives such as fund raising, deal sourcing and portfolio management.”
About Terravet Real Estate Solutions
Terravet Real Estate Solutions is an internally managed real estate group which owns and manages numerous veterinary properties across the United States. Terravet is currently investing out of its second fund and expects to build a portfolio of veterinary real estate valued in excess of $500 million in the coming years. Terravet partners with operators and owners of veterinary practices and hospitals by acquiring, renovating, and/or expanding existing veterinary facilities, while entering into long-term leases with veterinary practice owners. For more information please visit www.terravetrealestate.com.
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.