Stone Coast is a full service fund administrator and operations consultant for both onshore and offshore funds. Launched in May 2006, the firm has over 40 fund clients with $4.5 billion in assets under administration. Stone Coast uses GenevaÂ®, Adventâs award-winning portfolio accounting solution, and Advent PartnerÂ®. The firm wanted to deliver the highest quality service for its complex offshore funds, while also becoming more efficient in managing their client relationships through a single, centralized source for investor data. Stone Coast turned to Advent PartnerÂ® World Investor, which provides a unified platform for investor accounting and servicing for both onshore and offshore funds.
âWith Advent PartnerÂ® World Investor, we can manage escalating volume without diluting quality as our business grows. Having a single reliable investor accounting platform that meets the needs of all of our clients makes us extremely efficient,â said Marc Keffer, Co-Founder and Principal of Stone Coast. âFor all the complexities that we and our fund manager clients ask of it, the new functionality of Advent PartnerÂ® World Investor is unparalleled; without it, weâd have to manage and support two separate accounting and investor management systems, which is expensive and can lead to reporting errors and delays, resulting in inferior client servicing.â
Advent PartnerÂ® World Investor contains major new functionality for multi-class, multi-series investor accounting; onshore and offshore funds; multi-currency support; equalization; and a new Investor Management module. It also contains all the key improvements found in recently released Advent PartnerÂ® 7.0 including workflow enhancements that streamline break period processing, new performance fee and side pocket settings, and usability enhancements that make users more efficient and productive when allocating or tracking data, or delivering information to investors.
âWe are very excited about the launch of Advent PartnerÂ® World Investor; with its innovative features and streamlined workflows for investor servicing and accounting, itâs truly a game-changing release,â said Chris Momsen, Senior Vice President and Co-Head of Global Accounts at Advent. âWe realize the importance of investor servicing as a competitive advantage for Stone Coast and our other customers, and Advent PartnerÂ® now makes it even easier to deliver the right information, in the right format, at the right time and at the right price to individual clients across funds.â
Concluded Keffer of Stone Coast, âWe are not in the business of providing a mediocre service for clients with simple needs, so having a superb platform is a paramount consideration for us. Advent PartnerÂ® World Investor and GenevaÂ® have really opened the door for us to occupy the niche that weâve always envisioned. Itâs been an excellent return on investment.â