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Asset/Investment Management
FINANCE
gen2fund.com

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Investments

1

Partners & Customers

1

About Gen II Fund Services

Gen II Fund Services is an independent specialist provider of highly customized, client-centric accounting and administrative services to private equity industry sponsors and investors worldwide.

Gen II Fund Services Headquarter Location

805 Third Avenue, 24th Floor

New York, New York, 10022,

United States

212-408-0531

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Gen II Fund Services Web Traffic

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Page Views per Million (PVPM)
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Latest Gen II Fund Services News

07:00 EDT Gen II Fund Services Acquires Update Capital

Mar 14, 2022

News provided by Share this article Leading Real Estate Solution Strengthens Gen II's Product Offerings and Enhances Platform NEW YORK and VANCOUVER, BC, March 14, 2022 /PRNewswire/ -- Gen II Fund Services, LLC ("Gen II"), a leading independent fund administrator in the alternative's investment space, today announced the acquisition of Update Capital, a leader in investment management technology solutions for the real estate asset class. Terms of the transaction were not disclosed. Founded by Ran Kohavi and Itamar David, Vancouver-based Update Capital provides an automated, cloud-based solution for real estate sponsors to manage their assets, engage their investors, and connect with new prospects. The product offers asset-level data as well as financial and transactional data providing visibility to both the manager and investors. Ran Kohavi, Co-Founder and CEO of Update Capital, will join Gen II as Chief Product Technology Officer. "We are thrilled to bring Update Capital on board and to add their expertise and technology capabilities to the Gen II platform," said Steven Millner, Managing Principal and Co-Founder, Gen II. "Given the amount of capital in the alternative investments space, automation, accuracy and transparency have never been more critical, and Gen II is committed to delivering leading-edge technology and solutions to our clients." Led since 2009 by its co-founders, Steven Millner, Steven Alecia and Norman Leben, Gen II has worked with more than 250 sponsors spanning the private equity industry, including buyout, fund of funds, real estate, infrastructure, credit, and other closed-end structures. Gen II clients span the industry from emerging managers to the most significant global PE fund sponsors. "Like Gen II, Update Capital prides itself on unparalleled client service, and we're excited to join a true global industry leader with a forward-thinking mindset," said Ran Kohavi, Co-Founder and CEO of Update Capital. "We're looking forward to working together to help sponsors efficiently and effectively respond to the growing demands of the industry and increase client satisfaction." "Bringing in Ran and his team accelerates our ability to build on our technology capabilities to better support our clients across the alternatives space," said Steven Millner, Managing Principal and Co-founder at Gen II. "We are confident that expanding our platform by investing in proven technology solutions, like those of Update Capital, will enable a more robust client experience. And it will allow Update Capital's clients to seamlessly tap into Gen II's broad range of fund administration and related technology services." About Gen II Gen II is a leading fund administration provider focused entirely on serving the alternative asset management space, including private equity, real estate, and credit funds. Since its inception in 2009, the company has been one of the largest independent private equity fund administrators, with more than $700 billion of private fund capital under administration. Gen II offers private fund sponsors a best-in-class combination of people, process, and technology, enabling GPs to manage their operational infrastructure, financial reporting, and investor communications most effectively. For more information, please visit www.gen2fund.com Contact:

Gen II Fund Services Investments

1 Investments

Gen II Fund Services has made 1 investments. Their latest investment was in iCapital Network as part of their Private Equity on June 6, 2014.

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Gen II Fund Services Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/26/2014

Private Equity

iCapital Network

$9.25M

Yes

2

Date

6/26/2014

Round

Private Equity

Company

iCapital Network

Amount

$9.25M

New?

Yes

Co-Investors

Sources

2

Gen II Fund Services Acquisitions

3 Acquisitions

Gen II Fund Services acquired 3 companies. Their latest acquisition was Update Capital on March 14, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

3/14/2022

$99M

Acq - Fin

1

8/2/2021

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$99M

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10

7/16/2019

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$99M

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10

Date

3/14/2022

8/2/2021

7/16/2019

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

Total Funding

Note

Acq - Fin

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Sources

1

10

10

Gen II Fund Services Partners & Customers

1 Partners and customers

Gen II Fund Services has 1 strategic partners and customers. Gen II Fund Services recently partnered with Quilvest on July 7, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

7/15/2019

Partner

Luxembourg

1

Date

7/15/2019

Type

Partner

Business Partner

Country

Luxembourg

News Snippet

Sources

1

Gen II Fund Services Team

10 Team Members

Gen II Fund Services has 10 team members, including current Founder, Managing Principal, Norman Leben.

Name

Work History

Title

Status

Norman Leben

Founder, Managing Principal

Current

Steven Millner

BDO USA

Founder, Managing Principal

Current

Sean Menon

Senior Managing Director

Current

Alex Diel

Managing Director

Current

Cheme D Gurung

Managing Director

Current

Name

Norman Leben

Steven Millner

Sean Menon

Alex Diel

Cheme D Gurung

Work History

BDO USA

Title

Founder, Managing Principal

Founder, Managing Principal

Senior Managing Director

Managing Director

Managing Director

Status

Current

Current

Current

Current

Current

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