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Blog Fund Lifecycle Management


A LEGAL OPERATING SYSTEM FOR PRIVATE MARKETS — AND A MAJOR MILESTONE FOR ONTRA

Troy Pospisil
February 7, 2023
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For decades, the private funds industry has delivered market-beating returns and
taken an increasingly greater share of global assets. Aggregate industry deal
value, transaction volume, and assets under management set new records almost
every year. Most firms continue to target larger and larger funds while meeting
or exceeding their goals. Despite all that success, a crisis has been slowly
brewing under the surface for asset managers.

The cost and complexity of managing a fund have been growing substantially
faster than AUM. Asset managers are operating in more jurisdictions, investing
in more types of assets, creating innovative fund structures, and utilizing new,
creative forms of financing across transactions and funds. Counterparties, such
as limited partners, are becoming more sophisticated, demanding more complex
terms and liquidy of once illiquid investments. Regulators are continually
changing the rules of the game, while new threats such as cyberattacks and
political instability grow in number and size. So while AUM grows linearly, the
cost and complexity of managing those assets are compounding. This is especially
true as it relates to legal work.

The unfortunate reality is that asset managers just aren’t able to keep up.
While firms have been racing to hire to meet the mounting administrative
pressures, there is more work to do than can be done. And continuing down the
same path of more people and longer hours is not going to yield a different
result. If asset managers can’t identify a better, scalable way to address this
compounding complexity, important work will slip through the cracks. The result
will be more frequent and material negative impacts on performance, compliance,
and relationships.

Asset managers have three critical dimensions to their business — raising funds,
investing capital, and operating assets. Each of these areas involves a high
volume of routine legal work. As this work has grown, legacy tools and manual
efforts are breaking. Asset managers need a centralized, digital platform to
streamline and organize these legal workflows.

That’s why I’m thrilled to introduce Ontra’s legal operating system for the
private markets — a revolutionary innovation for our industry that will
transform our customers’ businesses across all aspects of their operations. Most
importantly, Ontra’s legal operating system will enable our customers to catch
up with the complexity of their operations, confidently tackle their work, and
get back to focusing on performance and growth.

Ontra developed this suite of products through close collaboration with the top
minds in the technology and private markets spaces. We tapped leading artificial
intelligence experts, aggregated best practices from the world’s largest asset
managers, and consulted experts across the legal and compliance arenas to
develop the best way to revolutionize workflows for private markets.

Ontra’s legal operating system allows asset managers to digitally transform
their legal workflows across all critical areas of their business with three
purpose-built products: FundFormer, Contract Automation, and Insight.

 * FundFormer streamlines the fundraising process by providing a seamless
   digital subscription experience. The solution allows funds to manage critical
   aspects of investor onboarding, including collecting subscription and AML/KYC
   documentation and tracking the investor pipeline.
 * Contract Automation combines AI and an experienced global network of lawyers
   to streamline the negotiation and management of routine contracts.
 * Insight translates the fund obligations buried in legal documents into
   actionable data that asset managers can use to drive contract compliance and
   better inform negotiations.

We’re committed to helping our customers successfully transform their legal
workflows. To that end, in the coming weeks, we’ll be releasing a number of
resources to help them through that digital transformation. These include
curated industry commentary, best practices gleaned from leading asset managers,
forums in which leaders can gather to network and exchange ideas, and, of
course, groundbreaking technology to put these ideas into action.

Keep an eye out and don’t hesitate to reach out to me via LinkedIn with
questions or suggestions. We’re on an exciting journey together with much more
innovation to come!

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Fund Lifecycle Management

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SEE ONTRA'S LEGAL OPERATING SYSTEM IN ACTION

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ADDITIONAL RESOURCES



Contract Management

10 things to know about contract management

Learn More


Guide

Top 10 Compliance Concerns for Private Fund Managers

Learn More


Contract Automation

3 ways technology can give asset managers a competitive edge

Learn More


Ontra, the leader in Contract Automation and Intelligence for asset managers,
combines AI-enabled software with its legal partner network to digitize and
modernize recurring legal workflows.


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