AST Private Company Solutions (AST PCS) has partnered with Standish Management, a fund administration provider, over integration and tracking of ownership data through the Astrella platform.
AST PCS’ Astrella platform operates as a cloud-based software-as-a-service model to help clients manage private company ownership data using blockchain technology, artificial intelligence, and predictive analytics.
Through the partnership, Standish will be able to use the integrated data to support limited partner (LP) financial reporting and communications, as well as capital calls, distributions, and partnership accounting.
Bob Raynard, CEO of Standish Management, explained: “Today, LPs are more diverse, dispersed and invested in different private equity arrangements than ever before, and it is crucial they have effective technology enabling fund performance reporting and accounting.”
“Astrella will form the bridge between companies on its system and our clients, creating efficiencies and accuracy in reporting benefiting the entire private equity ecosystem.”
Carine Schneider, president of AST PCS, added: “Standish Management is truly a model for solving some of private equity’s trickiest administration challenges, and we are excited to announce this partnership with their firm.”
“In many ways, our work building Astrella was meant for exactly this kind of relationship. Working closely with Bob Raynard and his team, including his service on our advisory council, has driven our team to build an innovative solution. We expect this to be a fruitful integration going forward.”
