WEST ORANGE, N.J., Jan. 24, 2017 /PRNewswire/ -- PEF Services, a leading fund administrator for Alternative Investment Managers, announced today the successful completion of its annual SSAE No. 16 (Statement on Standards for Attestation Engagements), Reporting on Controls at a Service Organization (SOC 1) Type 2 examination, in accordance with the American Institute of Certified Public Accountants (AICPA) guidelines.
The SSAE No. 16 SOC 1 Type 2 Exam provides independent, third-party verification that a service organization's policies and procedures meet or exceed industry standards. The exam is a comprehensive review of the firm's procedures and business process controls related to new client set-up and administration, fees and expenses, money movement and IT security.
"We are proud to have completed this rigorous assessment and certification as part of our initiatives to maintain operational excellence," said Joseph Campbell, chief technology officer, PEF Services LLC. "We will continue to run our processes accordingly and renew our certification year after year."
"Achieving SSAE No. 16 SOC 1 Type 2 compliance reaffirms PEF Services' ongoing commitment to meet the highest industry standards for security, reliability, and controls in delivering and operating our managed services," said Anne Anquillare, president and co-founder of PEF Services LLC. "The needs and security of our clients and their investors remain our highest priority."
PEF Services LLC, provides high-quality, cost effective fund administration solutions to venture, buyout, mezzanine, distressed, real estate, special purpose vehicles and fund of funds, with expertise in emerging manager and SBIC funds. PEF's LP Administration Solutions Group (LPAS) addresses the unique administration and data needs of limited partners investing in illiquid alternative assets.
For more information, visit our website at www.pefservices.com.
About PEF Services LLC
PEF Services provides high-value, high-touch Fund Administration solutions supported by senior professionals with extensive experience in alternative investments. PEF has a 15-year track record of delivering cost-effective solutions to Funds and General Partnerships, including Buyout, Venture, Real Estate, Special Purpose Vehicles, Mezzanine, Credit, SBIC, and Fund of Funds. The firm's LP Administration Solutions Group (LPAS) focuses solely on meeting the unique administration and data needs of limited partners investing in illiquid alternative assets. In partnering with PEF, firms increase operational efficiency, reduce and control operating costs, improve focus on core capabilities, and gain access to experts in private capital back office operations. For more information please visit www.pefservices.com.
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SOURCE PEF Services