Without exception, each alternative assets firm’s administration requirements are unique, detailed and extremely demanding. Operationally they require significant amounts of time and dedicated resources to administer them effectively. With investors increasingly calling for these activities to be outsourced, the appointment of a high quality and independent administrator is of crucial importance.
At Saltgate we engage with our clients to provide a bespoke suite of administration services designed to provide support throughout the fund life-cycle. The long-term relationships that we establish with each client, built on trust and underpinned by transparency and integrity, enable us to truly understand the exacting requirements of each fund and its investors. By partnering with our clients we ensure that our highly experienced team; one that understands the sector, the markets and the specific nuances of different fund and investment holding structures, becomes a valuable extension of our clients’ back office and a powerful asset to their business.
Our consistent and high quality service provision extends beyond day-to-day administration. We work to tight timeframes and non-negotiable deadlines. Our long track record of careful project management, unrelenting attention to detail and rigorous adherence to strict timetables ensures that nothing is left to chance. Whether it’s the middle of the day, or the middle of the night the wealth of experience that our teams bring to managing alternative asset transactions, supported by industry leading systems, ensures that we can deliver consistent client service with absolute certainty.
Our administration and transaction support services include:
- Establishment of companies, partnerships and unit trusts
- Statutory filings
- Registrar services
- Full company secretarial services
- Provision of registered office
- Working with key advisers
- Liaison with local regulators and assistance with regulatory requirements
- Provision of company officers:
- Compliance officer
- Money laundering compliance officer
- Money laundering reporting officer
- Conducting officers for AIFM
- Working with your deal teams and key advisers
- Project management
Saltgate (UK) Limited is authorised by the Financial Conduct Authority to carry on the regulated activity of establishing, operating or winding up collective investment schemes.
Providing accounting and financial reporting services to large, complex, active funds is a core service provided by our highly talented and technical team of fund accountants. Accuracy and attention to detail are crucial to our service offering. Our clients’ deadlines are our deadlines. Our robust and extensive control environment ensures that our teams can provide uninterrupted focus to delivering against our clients’ bespoke and exacting requirements. We operate Investran for private equity and debt fund accounting and Yardi for real estate. Our industry leading specialist accounting systems provide our teams with the appropriate tools to service our clients efficiently and effectively. We have an in-house team of accounting system specialists who partner with our client facing teams to deliver bespoke solutions to our clients and their investors. Whether this is highly tailored capital accounts or complex carried interest and preferred return calculations, we engage with our clients to provide the data they require in the format that best suits their needs.
We recognise that our clients will experience different challenges throughout their annual cycles and our client service teams plan our resourcing to address our clients’ specific priorities throughout the year. We engage early in the audit process, ensuring a strong working relationship with the audit team. Transparency is at the forefront of our operating framework; our clients appreciate our pro-active and communicative approach. The Saltgate team will always raise matters as they arise, rather than waiting until the time-sensitive and often high-pressured year-end review. Our in-house technical financial reporting specialist works alongside our teams to create high quality reporting with unrelenting attention to detail. Getting it right and delivering on time are more than just features of our service; they’re in our DNA.
Our accounting and reporting services include:
- Financial accounting and bookkeeping; under IFRS, US GAAP, local GAAP, or Limited Partnership requirements
- Investor reporting; under EVCA, IPEV, ILPA
- Accounting and forecasting
- Carried interest or performance fee calculations
- Generation of capital account statements
- Calculation of equalisation
- Liaison with auditors, tax advisors and legal counsel
- Tax statements, tax reporting
- Calculation of preferred return
Saltgate truly appreciates the value of all client relationships, and as a client of Saltgate's you will see how we prioritise your clients as much as our own.
This appreciation drives our approach to investor relations. We emphasise the importance of creating strong partnerships with our clients, enabling us to provide fund investors with highly responsive and truly value-add services.
We believe that responding quickly, accurately and completely to our clients’ demands fosters intelligent and articulate engagement with each investor, resulting in complete alignment with our clients’ strategies. The efficient coordination of tailored requests for on-boarding documentation and customer due diligence ensures this often sensitive process is unobtrusive for all parties. Where investors are required to perform due diligence in respect of the fund, or of Saltgate as an administrator, we welcome this process and work with the investor openly and transparently to respond to all of their enquiries without delay.
We pro-actively track and record investor queries and requirements giving our clients comfort that their investors’ compliance and information requirements are being expertly fulfilled. Our unwavering objective is that our clients can remain focused on their core business of fund performance.
Our investor services include:
- Onboarding of investors with relevant customer due diligence checks
- Responding to investor queries and requests
- Calculation and generation of drawdowns and distributions
- Processing of subscriptions, redemptions and secondary market transfers
- Matched bargain services
- Scheduled and ad hoc investor reporting
- Responding to investor due diligence and fund governance enquiries
We recognise that, while the requirement to appoint a depositary is mandatory, the selection and appointment of our clients’ depositary provider is entirely at their discretion. It is for this reason that our specialised depositary service is not offered as a ‘single-service’ line, but as a fully integrated part of a client’s wider suite of alternative investment services. To ensure a smoothly conducted and cost-effective service, we believe it is crucial to structure the service around our clients’ existing processes. We provide depositary services to closed-ended alternative investment funds that invest in non-custody asset classes.
Our depositary services include:
- Cash-flow monitoring
- Safekeeping of assets, including verification of asset ownership
- Oversight of the activities of the fund, including monitoring of transactions and valuations
- Oversight of the manager, including compliance with applicable law and regulations and monitoring the effectiveness of the control environment
To find out how we can help your business thrive, email our Head of Business Development, Stuart Winter.
"At Saltgate, we share a common commitment to client service excellence and benefit from best in class equipment and technology, which enables consistent communication and delivery between teams. Our people are dedicated and committed to delivering a high quality, tailored offering and this is why we have been able to offer our clients a differentiated level of service which they rightly expect from us."