Fast-growing private equity administrator, PEF Services, has been selected to provide fund administration services to $2 billion asset manager Star Mountain Capital.
PEF’s will support Star Mountain with its small business investment companies (SBIC) fund administration offering, services team, fund accounting platform, and investor portal, ViewPoint.
Star Mountain is a 100% employee-owned specialised investment firm, with nearly $2 billion in AUM and over 45 full-time people supported by an additional 35 senior advisor and operating partners.
Star Mountain is focused on the US lower middle-market, by investing debt and equity directly into established operating companies, making investments into fund managers and purchasing secondary fund and assets.
Since its inception, the firm has completed over 100 direct debt and equity investments.
“Star Mountain has been a long supporter of the successful SBIC program, a public-private partnership managed by the SBA helping to bring strategic financing to small and medium-sized businesses. We are honoured to provide additional strategic capital to growing US lower middle-market companies,” said Brett Hickey, founder & CEO of Star Mountain.
PEF Service has previously been recognised as One to Watch within the fund services space by Global Custodian. The firm supports multiple fund types and investments including SBICs, real estate, buyout, venture, debt, co-investment, SPVs and fund of funds.
“PEF’s reputation in the market for its SBIC expertise, providing exceptional service to clients and their targeted technology platform are all factors in our selection process. Partnering with PEF Services will enable us to gain operational efficiencies that allow us to focus on the strategic growth of our business,” said Christopher Gimbert, chief financial officer of Star Mountain.
The news follows the announcements in 2020 that PEF would provide fund administration services to real estate firm, Blue Flag Partners and Puerto Rican private equity firm, Parliament Capital Management.
“As a highly sophisticated investment manager, we are delighted that Star Mountain has chosen to outsource their SBIC fund administration to PEF,” said Anne Anquillare, CFA, CEO and president of PEF.
“We look forward to supporting their endeavours to achieve greater efficiencies while focusing on strategic initiatives.”