NeoXam, a global leader in Data Management, Reporting, Portfolio Management, and Valuation software, announced that Fund administrator FB Fund Services, a subsidiary of French private equity group 123 Investment Managers (123 IM), will integrate NeoXam’s GP4 solution this year to bolster the company’s investment valuation, accounting, reporting, and auditing processes.
NeoXam’s multi-markets GP4 solution—which supports private equity structures with a range of dedicated functionalities covering, for example, investment accounting for private assets and liabilities, management of commitments, calls and distributions with investors, allocation of performance between GPs and LPs through fully customizable Waterfalls —will provide various benefits for FB Fund Services, including centralised bookkeeping monitored in real time, greater workflow automation, and seamless integration to key data sources. Designed to support financial institutions’ back-office functions, NeoXam GP4 is an all-in-one fund accounting software hosted, maintained, and operated by NeoXam on behalf of FB Fund Services. Since NeoXam acts as a single point of contact that provides the infrastructure, updates, and security to the back office, FB Fund Services will considerably reduce the long-term total cost of ownership and risk of its data operations and maintenance.
Commenting on the partnership, Marc Guittet, Associate Director of 123 IM, said: “We are delighted to partner with NeoXam, whose back-office software addresses many of the toughest investment accounting challenges our fund administrators face. One of our key drivers for selecting NeoXam was its customised solution tailored for private equity accounting, which carries its own unique set of complex needs, and we’re looking forward to realising the benefits of this cutting-edge technology. We will also be able to leverage on NeoXam platform to support the needs of Pams, our newly created private asset management company.”
Charles Sayac, Managing Director of NeoXam EMEA West, added: “We’re thrilled to continue expanding our services in the complex private equity market, which is coming under increased regulatory scrutiny. We are determined to ensure FB Fund Services, Pams and 123 IM more broadly will benefit from increased efficiencies in their back-office systems, enabling them to focus on providing increased value to their client base in compliance with fast-evolving regulations.”
