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.

The 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
Solution

Aggregating and standardising data

Lantern ingested and standardized data across all asset servicers, systematically comparing feeds against audited financials and prior quarter logic to highlight discrepancies early.

Manual reconciliation and shadow accounting

Lantern validated incoming data, flagging anomalies before they could impact downstream investor reporting, internal dashboards, or board materials.

Complexity of private markets nuance

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.

Disconnected infrastructure

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

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The Impact

Shadow accounting reduced

Shadow accounting efforts were dramatically reduced, saving days of work each quarter and freeing up internal resources for higher-value tasks.

Shadow accounting reduced

Shadow accounting efforts were dramatically reduced, saving days of work each quarter and freeing up internal resources for higher-value tasks.

80% time saved reconciling data

Teams now spend 80% less time reconciling asset servicer feeds, with automation catching common errors early in the process.

80% time saved reconciling data

Teams now spend 80% less time reconciling asset servicer feeds, with automation catching common errors early in the process.

Faster quarter-end close

Validated data has accelerated the quarter-end close process, enabling faster reporting and greater internal confidence.

Faster quarter-end close

Validated data has accelerated the quarter-end close process, enabling faster reporting and greater internal confidence.

Fewer reporting errors

Common issues like broken capital account balances and NAV mismatches are now caught and corrected well before final reporting.

Fewer reporting errors

Common issues like broken capital account balances and NAV mismatches are now caught and corrected well before final reporting.

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.