AllianceBernstein

Leverages Insight to Create a Single Source of Truth for Fund Documentation.

What Was Accomplished:

Global visibility into obligations

Dedicated software solution for LPA and side letter compliance

A user-friendly tool for all firm functions

Key Results:

Access and accountability across functions

User-friendly tool for multiple stakeholders

Quick answers to complex investor questions

Ontra Product(s) Used:

Insight

Background

AllianceBernstein is a leading global investment-management and research firm with approximately $697 billion in assets under management. With over 50 years of investment management expertise, AllianceBernstein provides a wide range of solutions to its clients including equities, fixed income, multi-asset products, and more recently, alternative investments. As the firm’s alternatives business has grown steadily since its launch in 2009, so has the number of LPAs, side letters, and overall private fund documents that the firm must comply with on a global basis.

“Implementing Insight across our alternatives platform enabled us to create a single source of truth across the whole organization. By assigning specific obligations and tasks to the appropriate stakeholders across our firm, we are able to quickly answer complex questions from our investors, drive organizational accountability, and ultimately stay ahead of the growing complexity of private funds documentation.”

Neal Kalechofsky

VP, Alternatives Legal - AllianceBernstein

The Challenge

Heavy compliance workload
due to rapid growth

Rising volume of LPAs, side letters, and private fund documents

Managing visibility across
functions and regions

The rapid growth of AllianceBernstein’s alternatives platform generated the need for a dedicated software solution that simplifies LPA and side letter compliance.

Given the rapid growth of its alternatives platform, AllianceBernstein recognized the need to implement a dedicated software solution that would simplify LPA and side letter compliance by allowing multiple functions across the global firm to have visibility into AllianceBernstein’s obligations to its alternatives investors.

The Solution

Access and accountability
across functions

Visibility into
obligations

Single source of
truth for all

AllianceBernstein implemented Insight, Ontra’s purpose-built solution for fund obligation management, to provide multiple functions with visibility into the global firm’s obligations to its alternatives investors.

AllianceBernstein’s VP, Alternatives Legal, Neal Kalechofsky, set out to find a solution that would allow multiple stakeholders across the firm to have access to and accountability for the growing number of private fund documents and obligations that AllianceBernstein was entering into with its investors. With Insight, Kalechofsky found a user-friendly tool that could be utilized by all of the functions at the firm including legal, compliance, finance, investor relations, and even business development professionals.

Download PDF