SAN FRANCISCO, June 3, 2021 /PRNewswire/ -- Today, Anduin, the private market transaction innovator, announced the appointment of Jeffrey Gelfand as an industry adviser. With more than two decades of investment management industry knowledge and experience, Gelfand will work closely with Anduin to offer strategic insights on product expansions and rollouts and help the company set the standard in streamlining the fundraising process. Gelfand will also accelerate Anduin's expansion into private equity and hedge funds.
Throughout his career, Gelfand has served as the start-up Chief Financial Officer for Evercore, Silver Point Capital and most recently, Centerbridge, and experienced first-hand the frustrations associated with closing fundraising rounds with legacy software, or no software at all. On average, between 50-80% of fund documents are not in good order (NIGO) when first submitted - Anduin, however, averages less than 7% NIGO, leading the industry in ease-of-use and money/time saved, with some investors able to complete their SubDocs in less than ten minutes.
"The days of flying blind in fundraising are over because of Anduin. Its platform is intuitive and helps investors and fund managers easily navigate the process," said Gelfand. "I've been closely engaged in the fundraising process and know how tedious it can be. The industry is eager for modern solutions that can save time and money so fund managers and administrators can focus their energy on more strategic initiatives. Anduin is a game changer and I can't wait to help them continue to raise the bar."
"From our first meeting, I knew Jeff understood the potential for what Anduin could become: the go-to platform for end-to-end investor lifecycle management. He not only has the industry know-how, but also the strategic insight critical to elevate us to the next level," said Eliot Hodges, CEO of Anduin.
Indicative of the confidence that Gelfand has shown in Anduin, firms such as Better Tomorrow Ventures, EJF Capital and PartnersAdmin are streamlining their fundraising processes using Anduin.
"The onboarding process with Anduin has been a delight for both the EJF team and our investors," said Kristin Noll, Chief Administrative Officer of EJF Capital. "Previously, we leveraged email and PDF documents which required significant back and forth during the subscription process. With all of this now digitized and automated through Anduin, the investor receives a more enhanced, streamlined experience. And we expect fundraises to close faster and be less of an administrative burden for everyone."
About Jeffrey Gelfand Since his retirement from Centerbridge in 2018, Gelfand has offered selective, strategic consulting for alternative investment firms and investment management focused fintechs. Some of his areas of focus include: change management, launch advisory, organization chart health, process and technology blueprinting, insource versus outsource decisioning, CFO coaching and finance organization mentoring, and compensation benchmarking. Gelfand joined Centerbridge at its inception in 2006 and oversaw the firm's accounting, tax, operations, investor services and technology functions. Prior to Centerbridge, he was the CFO of Silver Point Capital, AOL Time Warner's investment company and Evercore. He began his career at Ernst & Young LLP. Gelfand received a B.B.A. from the University of Michigan in 1988 and qualified in 1992 as a Certified Public Accountant in New York. To learn more, visit his LinkedIn.
About Anduin Anduin is a Silicon Valley technology company committed to making the $14T private market as efficient and transparent as the public one. The Anduin platform is quickly becoming the standard of care for effective LP lifecycle management. Anduin's flagship data room and fund subscription products enable fund managers of all types and sizes to market their strategies to prospective LPs and onboard them on to their funds as well. To learn more, visit www.anduintransact.com.