Gen II Fund Services, LLC (“Gen II”), a leading independent fund administrator in the alternative’s investment space, today announced the acquisition of Update Capital, a leader in investment management technology solutions for the real estate asset class. Terms of the transaction were not disclosed.
Founded by Ran Kohavi and Itamar David, Vancouver-based Update Capital provides an automated, cloud-based solution for real estate sponsors to manage their assets, engage their investors, and connect with new prospects. The product offers asset-level data as well as financial and transactional data providing visibility to both the manager and investors. Ran Kohavi, Co-Founder and CEO of Update Capital, will join Gen II as Chief Product Technology Officer.
Led since 2009 by its co-founders, Steven Millner, Steven Alecia and Norman Leben, Gen II has worked with more than 250 sponsors spanning the private equity industry, including buyout, fund of funds, real estate, infrastructure, credit, and other closed-end structures. Gen II clients span the industry from emerging managers to the most significant global PE fund sponsors.
Read more: PR Newswire
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