4Alts has selected Sudrania Fund Services (Sudrania) to provide fund administration and related services to its multi-manager hedge fund platform with daily liquidity capability.
4Alts was recently created by former HFR and AON executives from Chicago; past HFR Asset Management president John Klimek and Aon pros Paul Sylvia and Rishi Awatramani. The 4ALTS Platform was established with the combined goals of providing a low-cost, all-inclusive solution for emerging managers and providing under-served investors access to small and niche alternative funds.
“4Alts has a very experienced management team and they are taking the right steps to implement new technology into the business. Together we can offer an improved service experience for alternative fund managers as well as improved risk management controls,” says Nilesh Sudrania, Founder and CEO of Sudrania. According to Sylvia, many studies describe how emerging managers outperform, but these managers often struggle with operational management, legal structuring, and risk management, with 4Alts designed to bridge these gaps.
It was determined that Sudrania is a great fit as the technology provided aligned well with 4Alts admin requirements. Sudrania’s Seamless Solution Software (Seamless) is SOC2 (Type II) audited, offers Daily NAV and has the ability to handle a large volume of transactions, investors, as well as managers. Sudrania also allows daily liquidity for fund investors. A subscription or redemption can be processed as soon as 1 full business day. “Sudrania’s technology gives us a more flexible cost structure. These savings get passed on to platform investors. Our investors have access to their capital accounts updated on a daily basis and accessible via Sudrania’s cloud-based platform.” says Paul Sylvia, Principal of 4Alts.
Seamless Solution is Sudrania’s multi-asset-class, multi-currency, scalable platform that works equally well for SMAs, single manager funds, multi-manager funds, and is a single database of the portfolio, fund, and investor accounting and reporting. Sudrania has recently launched its new investor platform Common Sub Doc (CSD), to their arsenal of software. CSD offers automated investor onboarding experience with built-in AML/KYC processing capabilities and gives greater flexibility to the investors and the fund managers. CSD has also integrated the e-signature feature to enable e-signatures on the subscription agreements as the next step in cutting down the paper.
Sudrania Fund Services is registered with the SEC as a transfer agent and its fund administration service operations are SOC 1 (Type II) audited.
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