Just Released - Unit Issuance

Issuing units is a crucial part of the capital raise workflow. At Caruso, we understand that fund managers require precise control and flexibility when issuing units to investors. Today, we're excited to announce our Unit Issuance feature, designed to streamline operations while giving fund managers complete flexibility to manage allocation requests, payment and unit issuance.

A Variety Workflows

Fund managers now have the option to issue units as part of various operational workflows.

Monitoring a capital raise

Fund managers can monitor the progress of a capital raise by viewing the offer, the offer metrics and all allocation requests associated with it. At any point, teams can;

• Manage payment for an allocation request
• Manage unit issuance for an allocation request

This flexibility allows your team to work within their preferred operational framework without disrupting established processes.

Reconciling deposits

Fund managers can seamlessly combine deposit reconciliation and unit issuance into a streamlined workflow. This greatly benefits fund managers in private credit that manage open-ended funds and receive a high volume of new deposits. By doing so, teams are efficiently managing payment, unit issuance and notifications to investors all at once.

For fund managers who manage all payments ahead of settlement, they can simply reconcile deposits and come back to issue units at a later time.

Complete Control

When issuing units, you maintain full control over the details of the issuance including the date of issuance, unit class, number of units and price per unit.

This level of control enables fund managers to handle various scenarios such as:

• Issuing units based on the deposit received: Investors may deposit more or less than they committed to. For example, an investor may have reached the daily limit at their bank. On Caruso, you can choose to issue units just for the partial deposit received or wait until the full amount is received before issuing all units.
• Issuing units based on capital call processes: Some fund managers support unit issuance before any payment is received on the agreement that they can call on capital as and when required.

Caruso’s Unit Issuance has been built to support both standard and complex situations that require maximum flexibility.

Comprehensive Reporting and Transparency

After issuance, both fund managers and investors benefit from comprehensive reporting:

For Fund Managers

• Track requested versus issued units
• Monitor capital committed versus capital contributed
• Access detailed registry and capital raising reports
• View complete transaction history
• Automated unit issuance statement stored on the admin application for reference

For Investors

• Clear visibility of holdings through the investor portal
• Transparent transaction records

Streamlined Investor Communications

Maintain consistent and professional communications with investors through automated notifications:

• Email Notifications: Optional unit issuance email
• Investor Portal Access: Optional unit issuance statement accessible any time through the investor portal

These communication tools ensure investors stay informed while reducing administrative overhead for your team.

Enhanced Operational Efficiency

This is a major enhancement on the capital-raising workflow that allows fund managers to issue units directly on the admin app without support from our fund admin services team. As part of this, we are greatly simplifying the way that allocation requests, payment and unit issuance work, allowing you to apply part or full payment to any status and issuing part or full units at any point. This upgrade sets us up to support capital calling, giving fund managers more flexible ways to call for payment at different stages of an offer.

The Unit Issuance feature delivers several key benefits:

• Reduced Administrative Burden: Automate manual processes associated with unit issuance
• Improved Accuracy: Eliminate errors common in manual issuance processes
• Enhanced Compliance: Maintain a clear audit trail of all issuance activities
• Operational Flexibility: Adapt the system to your specific fund requirements
• Improved Investor Experience: Provide professional, consistent communication to investors

Experience the Difference

Our Unit Issuance feature represents another step towards Caruso's vision of creating a single source of truth for your investor data and fund operations.

By combining flexibility, control, and automation, we've designed a system that adapts to your operational needs rather than forcing you to adapt to rigid software constraints.

If you'd like to explore how Unit Issuance can streamline your fund operations, please email [email protected] to arrange a product demonstration.