Creand Wealth & Securities, the Luxembourg-based asset servicing and wealth management banking arm of Creand Group, has chosen NeoXam GP4 as its fund accounting platform for private assets.
The agreement sees Creand Wealth & Securities replace its existing system to consolidate the administration of both traditional and alternative funds onto a single platform.
The decision follows growth in fund administration activity and the requirement to process private market valuation structures.
“NeoXam GP4 lets us run our traditional and alternative funds on one platform, handle the complexity of private assets, and produce Lux GAAP, US GAAP and IFRS figures from a single source,” said Sébastien Leleu, chief strategy officer at Creand Wealth & Securities.
The platform will be deployed on-premises, centralising workflows and supporting multiple accounting standards before going live prior to the end of the year.
Charles Sayac, managing director for Continental Europe at NeoXam, said the deal establishes a reference for private assets managed on the software, extending an existing relationship between the two firms.
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