MT. KISCO, N.Y
TKS Solutions, a leading provider of partnership and shareholder accounting software for the financial industry, announced that it has been licensed by Strata Fund Services to provide a full fund accounting, third party administration, and reporting solution using its Penny – It Works system.
Strata Fund Services provides high-quality administration services to the alternative investment industry.
With a deep and broad base of expertise in administration, tax, audit, and consulting services, Strata services some of the most complex hedge funds, private equity funds, fund of hedge funds, fund of private equity funds, registered funds, offshore funds and managed accounts.
Key considerations in Strata’s selection process were the ability to handle both shareholder and partner accounting, master / feeder structures, complex allocations, and fund of funds. Of equal importance were robust and customizable reporting features, so that Strata could tailor reporting to each client’s requirements.
“Strata’s use of Penny demonstrates our commitment to helping alternative investment accountants create the most optimal and transparent accounting workflows for firms, their clients, and their investors,” said Ron Kashden, founder of TKS Solutions. “Penny’s unique offerings allow fund administrators to maximize benefits for their clients, which in the current climate, is crucial.”
About TKS Solutions
TKS Solutions is the firm that brings you the acclaimed software, Penny It Works®. TKS is a registered Microsoft partner offering specialized partnership and shareholder accounting solutions for the financial industry. Penny It Works® is used to manage upwards of 600 onshore and offshore funds with more than $450bn in AUM.
The award-winning system provides automated and instant access to detailed investor data, performance, fees, and transactions.
Penny’s open architecture facilitates easy integration with portfolio accounting systems, data warehouses and proprietary solutions. Penny is tailored to the specific needs of leading hedge funds, fund of funds, private equity firms, fund administrators and management companies with assets under management ranging from $50 million to $60 billion.
About Strata Fund Services
Strata Fund Services LLC is a full service administrative firm providing high-quality administration and consulting services to the alternative investments industry. Strata provides unparalleled service to hedge funds, private equity funds, fund of funds, and managed accounts. Core services include financial accounting and reporting, investor servicing, tax compliance services, audit coordination and consulting.