NEW YORK--(BUSINESS WIRE)--Independent professional services group Praxis has selected Allvue Systems, LLC, a leading provider of technology to fund administrators, to enhance its fund administration services, further aligning with the firm's vision of providing future-proof, client-centric solutions. This collaboration represents a significant step in the firm’s strategic plan to offer comprehensive, efficient and independent service solutions that leverage best-in-class technology.
Praxis Group provides fund administration services with a focus on institutional, private equity, venture capital, family office and private clients. Ava Fairclough, Group Head of Corporate Services, emphasized the importance of selecting a technology provider that could scale with them and facilitate superior client support. “We selected Allvue’s Fund Administration Essentials because we wanted a solution that could grow with us and our clients. Their innovative and award-winning fund accounting platform and investor relations tools will empower our clients to run their funds efficiently now, and for years to come.”
“Having a system that is scalable and backed by a customer-centric team was a priority for us. Allvue’s team is relationship-driven and forward-looking, providing technology that evolves with market demands,” said Fairclough. “With Allvue, we can drive value for our clients—not only in managing fund accounting but also ensuring that they have data and portfolio management tools to thrive.”
Praxis is now live with Allvue’s Fund Administration Essentials solution, initially focusing on the Middle East. Dan Toft, Director and Senior Executive Officer at Praxis, UAE added, “As the first, and longest running authorized provider of fund administration services in the region this latest enhancement reflects our ongoing commitment to our clients. The Middle East continues to attract record levels of new funds1 from local and international funds, attracted by the regulatory and business environment, and strategic location. We are delighted to be part of this success.”
With Allvue’s Fund Administration Essentials solution, fund administrators like Praxis can easily manage the complex fund structures and unique financial reporting requirements of private fund managers. Allvue’s purpose-built software streamlines back-office financial management and reporting. Allvue’s solution is also designed to give fund administrators like Praxis the tools to deliver real-time data and insights to their general partners and their investors. Allvue’s technology enables firms to manage fund operations efficiently, while providing investors with transparent access to underlying portfolio performance.
“Praxis’ mission to embrace future-proof solutions for the funds they work with aligns with Allvue’s technology philosophy,” said James DiCostanzo, Global Head of Fund Administration at Allvue. “Allvue’s Fund Administration Essentials solution set for fund administrators enables firms like Praxis and their clients to grow at scale and achieve operational efficiency by leveraging best of breed technology. We look forward to supporting Praxis as they continue to engage in the market as a trusted provider of valuable fund administration services.”
Praxis’ fund administration services guide fund managers through the regulatory set up and fund formation process. Allvue’s Fund Administration Essentials was built with emerging and growing funds in mind, offering turnkey solutions that grow with firms.
For more information, visit Allvue Systems or Praxis Group.
About Allvue Systems
Allvue is headquartered in Miami with locations globally throughout North America, Europe and India. As a leading provider of technology for investment managers in the private equity industry and credit markets, its mission is to empower superior investment decisions by pairing modern cloud-based software solutions with capabilities across multiple asset classes. Allvue’s software solutions serve the entire investment lifecycle and are seamlessly integrated to provide a comprehensive product suite, serving firms of all sizes worldwide, including private equity managers, private debt managers, public credit managers, fund administrators, and banks. Formed in late 2019, Allvue helps clients operate and grow their businesses more effectively by automating manual processes, improving data accuracy and consistency across workflows, and delivering enhanced analytics.
About Praxis
Praxis is an independent, leading provider of bespoke private wealth, corporate administration and yacht services to companies, individuals and families across the world.
Praxis is the trading name of the Praxis Group Limited, listed on The International Stock Exchange. Praxis is one of the largest independent financial services groups headquartered in the Channel Islands. The Group reported revenues of £27m in the six months to 30 June 2024 and employs around 400 staff globally.
