Citco launches Citco Waterfall, a groundbreaking waterfall calculation tool for private equity firms
New York, 6 September 2016 – Citco Group of Companies (“Citco”) today announced the launch of Citco Waterfall, a groundbreaking, proprietary technology that enables private equity firms to efficiently calculate waterfall payments for limited and general partners on a standardized platform. The technology is the first of its kind and is available exclusively to Citco clients.
Building on Citco’s cutting-edge technological capabilities and in-depth knowledge of alternative investment funds, Citco Waterfall fills a major gap in private equity fund administration offerings. Replacing a process for determining waterfalls that is labor-intensive and inefficient, Citco’s technology automates and standardizes the waterfall calculation process, while maintaining maximum flexibility to account for a wide range of fund partnership agreements, scenarios, and tiers that may require unique, tailored methodologies. In addition, the Citco Waterfall program features an intuitive dashboard that is designed to enable managers to visualize their calculations and easily access formulas and data.
Nikolaos Perros, Head of Private Equity and Real Estate Services, said, “At Citco, we are deeply attuned to the needs, priorities, and operational challenges that face our alternative investment fund clients. While waterfall calculations are integral to private equity firms’ operations, the predominant process underlying those calculations (complex Excel-based models) requires manual inputs and linkages to multiple spreadsheets that cannot be scaled and often times cannot be leveraged from one fund to the next. We created Citco Waterfall so that we could provide our private equity clients with a state-of-the-art technology that not only is unprecedented in fund administration but would also alleviate a significant administrative burden and enable them to run their businesses more efficiently.”