Ark Pioneers Innovative Solutions to Meet the Needs of Private Capital Managers and Fund Administrators
BOSTON, April 16, 2024 /PRNewswire/ — Ark is excited to announce the introduction of its latest breakthrough in fund management technology: a comprehensive fund accounting solution designed to revolutionize the way private funds operate. Moving beyond the traditional constraints of general ledger systems, Ark’s new platform is engineered to address the intricate demands of partnership accounting, providing a seamless, integrated approach to managing private fund operations and investor relations with unparalleled precision and ease.
While off-the-shelf ledgers remain in wide use today because they can handle the basics, their inability to cater to the nuanced requirements of fund managers has led to reliance on cumbersome spreadsheets and manual reconciliations. Ark’s new fund accounting capabilities transcend these limitations, combining ease of use with sophisticated automation, enabling fund operations teams to achieve the next level of efficiency.
Clients favor Ark’s flexibility to easily handle data from third party platforms and fit seamlessly into their existing technology stack. While Ark will continue to support integrations with third-party ledger technology, the introduction of arkGL represents a significant milestone. Funds currently on other ledger solutions now have a new alternative available, and one built specifically to meet their unique accounting and investor reporting requirements.
“With no implementation fees, fast and configurable setup, and multi-manager engagement on a single screen, we are the most dynamic and scalable operating platform for venture capital and private equity managers,” said Bill Ward, CEO of Ark. “We distill best practices from top fund services firms and GPs into a nimble and thoughtfully designed product.” Ark’s commitment to innovation and excellence in fund management is demonstrated through their pioneering fund accounting solution, further elevating the operational capabilities of private fund managers to new heights.
About Ark
Ark is a leading cloud-based platform designed to optimize fund operations and automate investor reporting. Trusted by premier fund administrators and GP fund managers across the private capital markets, Ark currently supports over $125 billion in capital commitments, 70,000 end users, and 400 fund managers with SOC 2 Type II certification. Founded in Boston in 2017, our team leverages extensive experience in fund operations and financial technology to serve clients nationwide. For more information visit https://www.arkpes.com/fund-accounting/.
Contact: Chris Gale, [email protected]
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SOURCE Ark PES
