Gen II

Gen II Fund Services is the largest independent private equity and private capital fund administrator, founded in 2009 by Steven Millner and Norman Leben, who previously co-headed a private equity administration business acquired by BISYS in 2002. The firm is exclusively focused on private capital asset managers and investors, providing fund administration alongside corporate, tax, compliance, depositary, and management company services to private fund sponsors and investors.

The scale of the platform is material: over $850 billion of private fund capital assets administered across more than 100 fund entities, serving approximately 1,000 investors through 12 global offices spanning the United States, Luxembourg, Jersey, Guernsey, the United Kingdom, and Ireland. Coverage across these jurisdictions supports sponsors with cross-border fund structures and multi-domicile investor bases.

Technology underpins the operating model. Gen II's proprietary Sensr® technology platform powers digital subscription processing, investor portals, analytics, and data bridge solutions, with the stated aim of delivering timely, accurate, and transparent investor reporting to GPs. The firm describes its approach as a best-in-class combination of people, process, and technology applied to a fundamentally better model of fund administration.

For finance professionals, the proposition is operational rather than transactional: a single, independent provider spanning the full administration stack - fund administration, corporate, tax, compliance, depositary, and management company services - positioned as a premier independent provider in the private capital administration market.