We are excited to share with you that Update Capital has been acquired by Gen II. Joining forces with Gen II, we’ll have the extra resources to make Update Capital even better—and we can’t wait to take you along for the ride.
Together with Gen II, we will bring world class fund administration experience into our technology. We're looking forward to working together to help sponsors efficiently and effectively respond to the growing demands of the industry and increase client satisfaction.
We recognize that news like this can bring up questions and uncertainty. So let us address some key questions you might have right away:
Update Capital will remain a standalone product, like it has been until now, with the added support and resources that a larger organization can offer.
There is no expected interruption in service, as we’re continuing with the same infrastructure, process, and tools internally.
Your pricing won’t change. Gen II doesn’t raise prices on their own customers—and of course the same is true for Update Capital customers.
What about the team? Who will help me in support? As part of the acquisition Gen II has made a commitment to keep our team the same and minimize any disruptions in how we work. So, the team that you’ve come to rely on will still be here to help you, build for you, and cheer on your success.
Gen II is a leading fund administration provider focused entirely on serving the alternative asset management space, including private equity, real estate, infrastructre and credit funds. Since its inception in 2009, the company has been one of the largest independent private equity fund administrators in the U.S., with more than $850 billion of private fund capital under administration. Gen II offers private fund sponsors a best-in-class combination of people, process, and technology, enabling GPs to manage their operational infrastructure, financial reporting, and investor communications most effectively.
We see the future of investment management as a combination of software and services. With our technology and Gen II's world-class fund administration services, we will be able to offer our clients and Gen II's existing clients the best of both worlds.
"We are thrilled to bring Update Capital on board and to add their expertise and technology capabilities to the Gen II platform. Given the amount of capital in the alternative investments space, automation, accuracy and transparency have never been more critical, and Gen II is committed to delivering leading-edge technology and solutions to our clients." -Steven Millner, CEO, Gen II Fund Services
