Insights that Support Efficiency and Effectiveness

Service Providers

Insights that Support Efficiency and Effectiveness

Profile of Client

$300bn Fund Administrator

Challenge

The firm was losing market share and executive management wanted to understand the effectiveness and efficiency of its sales and client management business development models.

Solution

Convergence Competitive Analysis and Opportunity Cost Profile identifies the amount of existing client fund business that Administrators lose to competitors based on our analysis of decisions made by Managers to change existing fund administrators and give new funds to competitors.

Results

Our analysis revealed opportunities to improve the client’s sales and client management function to accelerate the identification of new fund opportunities and chnages in their business that led to cross-selling opportunities. The client improved market share within 12 months of implementing changes to improve collaboration between sale and client management.

Profile of Client

$3bn Hedge Fund Manager that lends to and invests in publicly traded Fund Administrators and Fintech firms.

Challenge

The firm was looking for ways to supplement internal research and investment models for investee companies and new investments with independent insights into the growth rates across asset classes in the Fund Administration and FinTech industry.

Solution

Convergence Fund and Asset Roll-Forward Analysis™ provides period-to-period fund and asset growth factor analysis for 3 investee companies and 2 of target deals. The Manager obtained greater insights into the market and competitor growth factors, improving its ability to discuss quarterly financial results with the CEO and CFO of each investee company.

Results

Our independent research supported their decision to exit various investments.

Profile of Client

$10bn Private Equity Fund Manager

Challenge

The firm’s Board wanted the Manager to change its Big 4 Auditor and wanted an independent analysis to identify a slate of new audit firms capable of supporting its business.

Solution

Convergence Service Provider Best Fit Analysis identifies service providers that can support the type of Manager based on their strategy, size and complexity.

Results

We identified 10 audit firms of different size bands who could support the Manager’s business model and funds. The Board asked us to rank the 10 so they could issue and RFP to 5. The new audit firm selected came from those ranked 5-10 by Convergence.

Profile of Client

$11bn Hybrid Manager – Mutual Funds – Hedge Funds -SMAs

Challenge

The company was struggling to raise assets for a newly acquired hedge fund adviser and their Board raised concerns about their ability to manage three different investment platforms based on SEC comments about hybrid managers.

Solution

Convergence Regulatory Filing Analyzer™ was applied to 4 years of Form ADV, Form D and 13F filings and we detected several issues, including data inaccuracies and omissions and inconsistencies. Our observations led to the review of all front-middle-back-office functions that supplied data to the Compliance group. The client hired an independent risk management company to implement corrective actions.

Results

Their acquired Hedge Fund raised $700mm within three years of strengthening their non-investment platform.
Additional services were provided on various strategic initiatives.

Profile of Client

$60BN Public Pension Plan.

Challenge

The plan was looking to improve the quality and efficiency of its pre and post operational due diligence and monitoring processes covering 120+ single manager investments.

Solution

Convergence Complexity Profiling Service™ was implemented to identify and push daily risk changes and insights covering using Convergence’s Complexity Factors™.

Results

The service was rolled out to 25 Investment, Risk Management, and Operational Due Diligence professionals in a customizable personal news page and expanded to include pre-investment due diligence on potential investee managers and the use of a Convergence Analysts to examine changes in risk factors using the Convergence Risk Management Workflow.