Gen II Fund Services has exceeded $1.5tn in private capital assets under administration (AuA), marking a significant milestone in the evolution of technology-enabled fund infrastructure across global private markets.
The achievement comes less than three years after the firm passed $1tn in AuA in 2023. Founded in 2009, Gen II now supports over 300 private capital sponsors and emerging managers across multiple strategies and jurisdictions.
For the property and private capital ecosystem, the growth reflects sustained demand for institutional-grade fund administration capable of handling increasingly complex investment structures, cross-border reporting requirements and data transparency expectations.
“Exceeding $1.5tn in AuA demonstrates the confidence leading private capital managers have in Gen II. Our clients’ top priority is performance, and we’ve built optimized fund administration structures that remove operational friction, empowering them to focus on alpha generation.”
Steven Millner, CEO and Co-founder, Gen II Fund Services
As real estate debt, private credit and infrastructure strategies expand, fund administrators are playing a more strategic role in enabling managers to scale while maintaining compliance, reporting accuracy and investor confidence.
To support continued growth, Gen II has strengthened its senior leadership team. Leslie DeRoss has joined as Head of Credit to lead the firm’s private credit capabilities, while Beverly Shealy has been appointed Head of Waterfall Solutions to oversee further automation of distribution modelling.
Rob Hartnett also joins as Tax Principal to expand integrated tax services, and Ray Ferranti has been named Regional Head for Northeast Client Services.
These appointments reflect the increasing sophistication of fund structures, particularly in private credit and real estate strategies where waterfall calculations, cross-border tax treatment and investor-level reporting require advanced systemisation.
Alongside headcount expansion, Gen II continues to invest in its proprietary technology stack. The firm’s Funded® platform digitises investor onboarding and capital deployment, while Sensr® Analytics provides real-time performance visualisation and fund-level data analysis.
Sensr® Portal integrates AI-enabled functionality to give investors structured visibility into cash flows and portfolio metrics, and Sensr® DataBridge offers no-code integration with client systems, enabling real-time data exchange.
For real estate managers operating closed-ended funds, private credit vehicles and hybrid structures, these platforms increasingly form part of the operational backbone that supports fundraising, deployment and reporting.
As private capital allocators demand deeper transparency and faster access to portfolio intelligence, fund administration is shifting from back-office processing to data-driven infrastructure. Gen II’s latest AuA milestone underscores how technology-enabled administrators are positioning themselves at the centre of that transformation.
