Atlanta Fund Administrator PFC Achieves Highest Possible Rating in Global Custodian Survey and Successfully Completes SAS 70 Type II Audit
ATLANTA, Aug. 30, 2011
Partnership Financial Consulting, LLC ("PFC"), a provider of administration and other services to the alternative investment community, received the highest rating possible in Global Custodian's 2011 Hedge Fund Administration Survey for a first-time participant in each of the five categories for which the firm was rated. Additionally, PFC ranked number 5 out of 36 providers in a listing of highest scores as a percentage of total scores with 94% of its total scores rated as top scores.
"This is an impressive debut as a rated provider," declared Global Custodian, which went on to praise "the Atlanta-based firm ... is not large, but it is sophisticated, looking after private equity and real estate funds as well..."
A client quoted in the article described PFC as "a true partner. They are genuinely concerned about the totality of the relationship and go above and beyond in terms of providing the highest quality of service to us and our investors."
The 16th annual survey of hedge fund clients conducted by Global Custodian, a leading magazine in the international securities services industry, ranked hedge fund administrators in several service areas including client service and relationship management, fund accounting and valuation, and investor services and reporting.
In addition, PFC successfully completed a SAS 70 (Statement on Auditing Standards No. 70) Type II audit earlier this summer, which provides PFC's clients, as well as the clients' auditors and investors, with an independent third-party review of PFC's operational processes and controls and confirms that controls are operating effectively and efficiently. SAS 70 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants ("AICPA") used to report on the processing of transactions by service organizations. A Type II audit includes both reporting on controls placed in operation and tests of operating effectiveness.
Atlanta-based PFC, founded in 2000, is an independent, full-service fund administration firm that services a wide variety of domestic and offshore hedge funds, funds-of-funds, private equity funds, venture capital funds, and real estate funds located across the United States, the Cayman Islands, and the British Virgin Islands. PFC's 13 professionals and staff service 45 funds with total assets in excess of $1 billion.
Partnership Financial Consulting
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SOURCE Partnership Financial Consulting, LLC