Gen II Fund Services is a global integrated fund administration services provider, specializing in private equity, real assets, fund of funds, credit, and emerging managers. Through deep industry expertise, Gen II is experienced in managing complex fund operations like investment transactions, capital calls, distributions, and investor reporting. From property appraisals for real assets to credit loan management, Gen II provides customized services that maximize operational efficiency, transparency, and investor trust.

For private equity and emerging managers, Gen II provides customized support, assisting funds through formation during their life cycle, with regulatory advice and capital raising support. The attention by the firm to best practices, developed through years of dealing with sponsors, Limited Partners, consultants, and regulators, ensures that clients gain from institutional-grade back-office facilities. With innovative technology and a commitment to excellence, Gen II is a trusted partner in handling the complexities of fund administration so that clients can focus on expansion and maintaining investor trust.

Services Offered by Gen II Fund Services

PE Fund Administration

Gen II Fund Services excels in the private equity fund administration sector, providing a full spectrum of specialized solutions tailored to address the multifaceted requirements of fund sponsors. Years of experience have refined the firm's ability to chart complex financial operations, ranging from investment reporting and performance modeling to look-through analysis of fund-of-funds.

Their services extend far beyond standard accounting, providing capital management expertise such as capital call and distribution management, as well as credit facility administration. Gen II also addresses compliance with the latest regulatory requirements, from AML and FATCA to Form PF and GIPS guidelines. Investor relations are managed to a high standard, with a specialist team to process subscriptions and redemptions and ensure up-to-date investor records. Through careful financial management and reporting, Gen II enables fund managers to concentrate on driving strategic growth, while investor trust and satisfaction are preserved.

Tax

At Gen II Fund Services, tax management is a significant pillar of their full-service fund administration solution. The firm's dedicated Tax Team collaborates closely with private equity funds to overcome the intricacies of tax reporting and compliance, providing tailored solutions uniquely suited to each fund's distinct requirements. From federal to state tax compliance, Gen II ensures accurate filing of returns, such, as Forms 1065 and 1120, and investor tax reporting such as K-1s and K-3s.

Gen II’s expertise extends to operational tax compliance, managing tax accruals, withholding on investor cash flows, and supporting audit processes. The firm also ensures adherence to FATCA and CRS regulations, helping funds meet global tax reporting standards. With a strong focus on collaboration, Gen II’s tax services are designed to maximize tax efficiency while minimizing risk, providing funds with the support they need to stay compliant and optimize returns for all stakeholders.

Compliance

With the pace of life in the private equity world, staying on top of regulatory requirements can be a challenge. Gen II Fund Services acts as a facilitator for funds to bypass this complexity by providing tailored compliance solutions that enable funds to become compliant easily with global standards. By attending to all from KYC and AML processes to SEC reporting and FATCA/CRS reporting, Gen II enables funds to focus on their investment strategies while being compliant.

Their full-service solutions include investor due diligence, risk review management, and the offering of business risk assessment to mitigate compliance risks. Gen II also coordinates with regulators, assists with regulatory reporting such as Form PF, and handles communication with institutions like the Luxembourg Central Bank and CSSF. With specific compliance staff and expert advice, Gen II keeps your fund audit-ready, protecting your reputation and investor confidence through effective, risk-aware management.

Steven Millner| Short Bio

Steven Millner is Co-Founder and CEO of Gen II Fund Services, with more than 25 years of experience in private equity administration. Formerly, he was managing director/co-president at BISYS Private Equity Fund Services, a company owned by The BISYS Group and subsequently acquired by Citigroup. Steven also co-founded DML Fund Services and DMLT, Inc., providers of the Investment Café LP reporting portal, which was later acquired by eFront. A respected private equity fund administrator, he has a Bachelor of Science in Accounting from Bentley University and is a certified public accountant (inactive). Steven has been a member of Bentley's Board of Trustees since 2019.

“Our deep expertise and long history in the private equity fund administration industry benefit clients across all sectors and asset classes by offering tailored service plans, a highly experienced team, comprehensive support across various strategies”