Mastering Multi-Asset Servicer Fund Reporting
How a €40bn Global Private Equity Manager Took Control of Their Fund Data
Introduction
A global private equity leader managing more than €40bn in assets across Europe and North America, with a multi-strategy platform spanning buyout, healthcare, and infrastructure investments. The firm’s growth and diversification across regions and sectors brought new complexity to its fund operations – and a need for better data control.
Challenge
As the firm expanded, internal teams faced growing operational pressure:
- Fund data arrived from four different asset servicers, each using their own accounting systems, file formats, and proprietary portals – designed to fit their tech, not the GP’s needs.
- Investor reporting relied on reconciling PDFs, Excel files, and manually re-keyed data – a slow, error-prone process that introduced significant operational risk.
- To feel confident before communicating externally, the firm built a full shadow accounting process internally – creating a major resource drain.
- With no reliable, validated input source, meeting reporting deadlines became increasingly difficult, and confidence in LP reporting suffered.
Challenge
- Aggregating and standardising data
- Manual reconciliation and shadow accounting
- Complexity of private markets nuance
- Disconnected infrastructure
Solution
- Lantern ingested and standardized data across all asset servicers, systematically comparing feeds against audited financials and prior quarter logic to highlight discrepancies early.
- Lantern validated incoming data, flagging anomalies before they could impact downstream investor reporting, internal dashboards, or board materials.
- Lantern’s private markets specialists worked hand-in-hand with the firm’s Operations and Data Science teams to configure validation rules tailored to their unique fund structures and administrator setups.
- Validated data was made available via API, seamlessly populating internal tools, dashboards, and LP portals - giving teams confidence in every number they shared.
Lantern gave us control of our data across every admin, every fund, every quarter. And their team actually gets private markets, which made all the difference.
Managing Director, Global PE Firm
Summary
By partnering with Lantern, this global private equity firm eliminated operational risk, accelerated investor reporting, and built a future-proof foundation for data control across every fund, and every asset servicer. Interested in how Lantern could work for your operations? We’d love to show you Lantern in action – get in touch.
