WEST ORANGE, N.J., May 2, 2017 /PRNewswire/ -- PEF Services, a leading fund administrator for Limited Partners (LP) and Alternative Investment Managers, today announced that Weichert Enterprise LLC has selected PEF Services to support their complex limited partner administration accounting services.
Weichert Enterprise LLC is a New Jersey-based private equity investment firm with interests in energy, business services, the industrial sector, and community banks. With their core team supporting essential LP administration functions, Weichert Enterprise needed to supplement internal resources to address the complex and non-standardized reporting received from their investment manager group. Partnering with PEF Services allows them to focus their efforts on investment selection and monitoring while receiving the critical information and analytics to support these tasks. Weichert Enterprise selected PEF Services to support their key investment initiatives, enhance compliance and increase operational efficiencies.
"PEF offers us the technology and private equity-specific accounting reporting and expertise that we need to increase our operational efficiencies," said Gerald C. Crotty, president of Weichert Enterprise LLC. "Working with PEF will help us gain a higher degree of standardization and consolidation of investment reporting and performance, allowing us to focus on strategic investment decisions."
The administration of illiquid alternative assets has become increasingly complex. Investors and investment boards are more sophisticated, compliance requirements are more rigorous, and access to advanced analytics is more critical to investment monitoring than ever before. PEF's LP Administration Solutions group (LPAS) addresses the unique administration and data needs of limited partners investing in illiquid alternative assets.
"PEF helps limited partners gain stronger control over their environment to improve transparency and standardization with access to best-in-class technologies and a full spectrum of senior-level expertise," said Hank Boggio, Chief Revenue Officer of PEF Services. "We're delighted to welcome Weichert Enterprise LLC to our family of clients to help them manage their workflow more efficiently, improve visibility, insight and control."
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