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SAN FRANCISCO, April 23, 2009
STANDISH REACHES 50-FUND MILESTONE
Venture Capital and Private Equity Firms Benefiting From Outsourced Fund Administration Model
Standish Management, LLC, a boutique provider of outsourced accounting infrastructure services to venture capital and private equity firms, announced today that it now serves 50 funds.
Founded in 2006, Standish has achieved substantial growth and is currently serving more than 25 clients with more than $12 billion in capital under management.
“Venture and private equity firms recognize the value of operational efficiency in their portfolio companies. With the recent downturn in the economy, more and more general partners and CFOs are focusing on their own firm’s operations as well. Our combination of experienced personnel, proprietary processes and software provides on-demand accounting infrastructure to institutionally-backed private investment fund managers. We have found that GPs and CFOs are generally surprised to learn that there is an alternative to building a large back office and that outsourcing generally produces six or seven figure savings for firm owners — annually,” said Standish Managing Partner Robert Raynard, CPA.
Standish provides a wide range of services including web-based financial reporting to investors, partnership accounting, capital call and distribution management and performance return calculations.
“Standish is the ideal partner for us as they allow us to focus on deals, execution and fund raising, and we are assured that the day-to-day accounting, reporting and administration functions are being handled seamlessly and efficiently. Partnering with Standish has allowed us to avoid getting in the business of hiring and training an army of accountants, which is not our core business. I am not sure why anyone in the venture or private equity business would want a large captive back office, regardless of market conditions,” said Hans Swildens, managing partner of Industry Ventures, a Standish client of several years.
Standish plans to expand to several key markets across the U.S. in the near future to meet the growing demand for its highly specialized services.
About Standish:
Standish Management, LLC is a privately held company that provides outsourced accounting infrastructure services to venture capital and private equity firms. Founded in 2006, Standish is based in San Francisco.
Media Contact:
Jeff Fox
The Blueshirt Group
415-828-8298
jeff@blueshirtgroup.com
