PFA Solutions, a leading provider of specialized alternative investment technology solutions, announced that twelve new asset managers have selected PFA’s FirmView® software platform in the first half of 2022. FirmView will support management and reporting related to internal employee and partner carried interest allocations, vesting arrangements, and compensation programs.
In addition to current customers, new firms joining the platform include 137 Ventures and Eight Partners VC (“8VC”) along with ten additional leading private equity and venture capital firms ranging in size between $1.5 billion to more than $80 billion in assets under management.
“Private capital leaders firmly believe that growth is optimized and differentiated when team members are empowered by rewards commensurate with their contributions and future deferred compensation analytics are clear and accessible,” said PFA Solutions Co-founder and Managing Partner, Richard Change. “Along with rewarding employees for their business contributions, we have seen a surge in private capital firms seeking out digital solutions to improve the administration of carried interest and compensation plans and the associated reporting to employees. As the alternative investment industry has grown significantly, so has the advancement of their operations, including the compensation function and associated processes. We are excited to continue to be a trusted partner working with our existing client base and the new clients implementing FirmView.”
“Our talent is at the heart of our performance,” said Andrew Hansen from 137 Ventures. “Therefore, we selected the PFA FirmView platform as the solution to manage this highly sensitive data and produce comprehensive statements to our employees. Our goal is to provide best-in-class reporting to employees and partners and have at-your-finger-tips management analytics to align talent and value creation. We strive to manage this data in a secure method and provide optimal carried interest and compensation insights to all our team members.”
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Leading private capital firms are improving their internal operations and are actively seeking opportunities to transition from error-prone spreadsheets to online solutions, such as FirmView to manage their employee incentive programs. Many private capital firms have various complexities related to their incentive plans and changes over time due to new employee awards, promotions, and forfeitures of carried interest awards. As a significant portion of the workforce remains remote, private capital firms are seeking platforms and service providers to deliver push-button reporting and analytics directly to employees.