Permian selects Allvue Systems for fund accounting solutions

Partnership equips the leading Nordic fund administrator with a cloud-based, fully integrated platform that will streamline back-office functions
BusinessWireMarch 15, 20244 min

Allvue Systems (“Allvue”), a leading alternative investment technology solutions provider, announced an agreement with Permian Group (“Permian”) to provide fund accounting and administration software that supports the company’s business operations. Permian is a leading Nordic fund administrator with offices located centrally in Oslo and Stockholm.

Allvue will deliver its comprehensive Fund Accounting solution fully integrated with a Nordic well-proven platform to handle the “purchase to pay” process. This unique combination will be the first of its kind in the Nordics and will empower Permian with the best-in-class streamlined and efficient back-office workflows, risk mitigation capabilities, a more comprehensive investor reporting function, as well as the swift handling of calls and distributions to limited partners. Permian will also benefit from improved data functions including automatic FX rate integration, which will enhance the efficiency and accuracy of their operations.

Marianne Normann, CEO at Permian, expressed the firm’s commitment to optimizing fund administration and accounting processes for enhanced client support through cutting-edge technology and secure data access. Normann emphasized that by integrating capabilities for document approval and payments with Allvue’s robust Fund Accounting platform, Permian is positioned to be a pioneering force. The partnership with Allvue ensures streamlined administration and accounting operations within a unified system, empowering Permian to concentrate on strategic growth initiatives and deliver impactful services to clients.

“Fund administrators around the world are grappling with the challenges of building a flexible and scalable tech stack to enable their organizations to meet the evolving needs of general partners,” said Tarek Saleh, Chief Revenue Officer at Allvue. “We are excited to partner with Permian to optimize their operational processes and provide them with the technology and automation they need to modernize capabilities and deliver for clients.”

Allvue’s cloud-based Fund Accounting software combines partnership accounting, detailed financial statement reporting, a multi-currency general ledger, cash management, and workflow standardization into one complete fund accounting system. Clients who implement the Fund Accounting solution will have access to a fully integrated platform that will streamline and de-risk back-office processes.

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