Proteus, LLC announced the launch of its Employee Access Solution for private fund sponsors, a unique platform that combines legal structuring know-how, compliance expertise, and industry-leading technology. This solution will allow sponsors of private funds to engage employees in the benefits of their investment products with streamlined efficiency.
Employee retention is top of mind for private fund sponsors. Attracting and retaining talent is not only paramount to delivering a high-quality offering, but it is also a critical aspect of investor due diligence. Excessive turnover can become a significant barrier to a private fund sponsor’s fundraising efforts. In an industry where staff quality is often the difference between success and failure, today’s tight labor market requires sponsors to consider how to extend the significant benefits of their fund products to their employee base.
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“Private fund sponsors seek the best available talent. However, attracting and retaining top talent has become increasingly difficult as waves of employee turnover have become the norm for the industry,” says Jason Brown, CEO at Proteus. “Our Employee Access Solution will become an invaluable arrow in the quiver for those firms looking to engage, reward, and build lasting relationships with their teams. This solution will positively affect all aspects of a private fund sponsor’s business.”
While programs have existed in the past to offer employees access to fund products, those methods have historically been impractical to roll out in full scale due to the complex administrative processes involved. Proteus’ Employee Access Solution is a game changer in its ability to efficiently offer participation to large numbers of employees without creating an undue burden for the sponsor or the employee.
Through a one-time signup process, employees can participate in as many sponsor offerings as they choose. The solution is also tailored to handle the intricacies of private funds, where certain employees are often rewarded for their specific efforts through participation in co-investments.
Along with a one-time signup experience, employees will enjoy robust portfolio management tools to track their investments and consolidated statements demonstrating all the investments they have made through the program. At the end of the year, employees will only have to deal with a single aggregate K1, regardless of the number of investments they have made in the funds and co-investments.
For the sponsor, the solution offers robust reporting for program oversight and a remarkable degree of control in determining which opportunities are available to which employees. In addition, the technology platform is built to distribute all details about investment opportunities to facilitate employee participation and engagement.
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