Fund operations
Operations software for retirement funds that hold private funds.
Private funds are entering 401(k)s through target-date funds and collective investment trusts. Operative helps the operations teams who run them capture each private-fund event once and carry it through every layer.
Get in touchThe problem
Two systems on two different clocks.
The retirement fund is valued and traded every day. The private fund prices monthly or quarterly, calls capital on its own schedule, and can gate redemptions. Today, operations teams bridge the two by hand: notices rekeyed, stale values carried forward, liquidity tracked in spreadsheets, and the audit trail assembled after the fact.
What Operative does
Capture each fund event once. Carry it through every layer.
Fund events
Capital calls and distributions arrive from administrators, GP portals and a notices inbox, are checked against fund terms, and are allocated to each CIT and vintage.
Liquidity
A forward view of participant flows, expected calls and redemption windows, with every notice deadline and gate on one calendar.
Glidepath and pacing
Allocation drift by vintage, commitment pacing and unfunded commitments, with rebalance proposals sent to your trading system.
Valuation
Daily carry for private values between marks, with true-ups reviewed and approved when new statements arrive.
Reconciliation
Three-way matching with the trustee, recordkeeper and administrator, with breaks surfaced before they age.
Controls and audit
Maker/checker approval on every money movement, and a full audit trail that supports the fiduciary's documented process.
Who it's for
Built for the people who run the fund day to day.
- CIT trusteesThe teams carrying the operating burden of private sleeves.
- Target-date fund operationsPortfolio managers and middle- and back-office staff.
- Administrators and transfer agentsService providers working across many client funds.
Get in touch
We're talking with CIT and target-date operations teams now.
If you run operations for a fund adding private assets, I'd like to hear how you handle it today.
shawn@operativefunds.com