Alter Domus

What Alter Domus does

Alter Domus is a privately held, Luxembourg-headquartered provider of tech-enabled fund administration and corporate services dedicated exclusively to the alternative investment industry. Founded in 2003, the company operates 39 offices across 23 jurisdictions and employs 6,500+ professionals serving private equity, venture capital, real estate, infrastructure, and private credit managers, as well as the asset owners, endowments, foundations, financial institutions, and wealth managers that allocate to alternatives. The firm administers $3.9 trillion across 38,000+ client structures and reports serving 85% of the top 30 asset managers, 87% of the largest PE managers, 97% of the largest private credit managers, and 75% of the world's largest real estate firms.

The platform combines a vertically integrated service catalog — fund administration, AIFM services, depositary oversight, corporate/SPV administration (14,000+ SPVs), loan agency and successor agent services, capital administration, and regulatory compliance — with a proprietary technology ecosystem. Built and acquired technology assets include the Solvas suite (Digitize, Portfolio, Compliance) acquired from Deloitte in 2023, Agency360 (loan agency), Virtual Back Office (ABOR for credit), CorPro (GP/LP portal), IGRES (real estate), ReportPro, Credit-Vision, and DealFact, integrated with industry-standard systems (eFront, Allvue, Yardi, FIS Private Capital Suite, Addepar, Octus Sky Road). The company holds ISO 27001, SOC 1, SOC 2 Type 2, AIFMD, FATCA, PCI-DSS, GDPR, and CCPA certifications, with depositary licenses in Luxembourg, Ireland, Malta, and the UK.

Revenue is generated almost entirely through recurring, multi-year enterprise contracts quoted against assets under administration, fund complexity, jurisdictional footprint, and scope of services (pricing is not publicly disclosed). Go-to-market is direct enterprise sales through sector specialists and regional relationship teams, supplemented by a client portal (AD Connect). Growth has been driven by a Permira-backed (2016) buy-and-build strategy that has added nine acquisitions — including Investors Economic Assurance (2021), Solvas from Deloitte (2023), and MSC Group (2026) — alongside marquee mandate wins such as Bain Capital Credit (over $30 billion in credit portfolios, February 2026) and the StepStone SCP Spain partnership (December 2025).

Name

Alter Domus

Legal name

Alter Domus Participations S.à r.l.

Website

https://alterdomus.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Alter Domus is a Luxembourg-founded, Permira-backed tech-enabled fund and corporate services provider dedicated exclusively to alternative investments, administering $3.9 trillion across 38,000 client structures with 6,500+ professionals in 39 offices. It serves PE, VC, private credit, real estate, and infrastructure managers globally.

Ownership category

akta.pro rank

Product category

Fund Administration Services

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

akta.pro primary industry

Unit Registry & Transfer Agency for Alternatives (Private Funds, SPVs, Closed-End) (FSAAAMAK)

akta.pro secondary industry

Sub-Accounting & Platform Servicing (Omnibus, Intermediary/NSCC, Retirement Platforms) (FSAAAMAI)

Keywords

• Fund administration services
• Corporate services
• Depositary services
• Loan agency services
• AIFM services

Headquarters

HQ city

Luxembourg

HQ country

Luxembourg

HQ region

Europe

Offices14 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Fund Administration Services: Comprehensive fund administration for alternative investment funds including NAV calculation, fund accounting, investor reporting, capital calls, distributions, and regulatory compliance. Services provided to private equity, venture capital, real assets, infrastructure, and private credit managers.
2. Corporate Services: SPV administration, entity accounting, corporate secretarial services, and regulatory compliance across the entity lifecycle from incorporation to liquidation.
3. Loan Agency and Servicing: Middle and back office loan operations including loan administration, loan accounting, trade settlement, CLO management, and agency services for private credit portfolios.
4. AIFM Services: Alternative Investment Fund Manager services enabling EU market access and AIFMD compliance for non-EU managers.
5. Depositary Services: Independent regulatory oversight functions including asset safekeeping, cash flow monitoring, and AIFMD oversight for European alternative investment funds.
6. Capital Administration: Waterfall administration, GP carried interest administration, and capital forecasting services.

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels5 records

Core offering

Alter Domus is a fully integrated fund and corporate services provider dedicated to alternative investment managers and asset owners. The company delivers end-to-end fund administration (NAV calculation, fund accounting, investor reporting, capital calls, distributions), corporate services (SPV administration, entity accounting, corporate secretarial), AIFM services, depositary services, and middle/back-office loan agency and CLO management. Services are delivered through a proprietary technology ecosystem that includes the Solvas suite (Portfolio, Compliance, Digitize), Agency360, CorPro, Virtual Back Office, and IGRES, serving $3.9 trillion in assets under administration across 38,000+ client structures.

Product overview

Alter Domus operates as a tech-enabled fund and corporate services provider for the alternative investment industry, offering a platform-plus-modules architecture. The core offering combines fund administration services (NAV calculation, fund accounting, investor reporting) with proprietary technology platforms including Solvas (acquired from Deloitte: Solvas Portfolio, Solvas Compliance, Solvas Digitize), Agency360, CorPro, Virtual Back Office, and IGRES for real estate. The company serves private equity, venture capital, private credit, real estate, and infrastructure sectors across 39 offices in 23 jurisdictions, administering $3.9 trillion in assets under management for 38,000+ client structures.

Differentiator

Problem solved

Functional benefit

Brands

• Solvas: Loan and debt servicing software platform acquired from Deloitte, including Solvas Digitize, Solvas Portfolio, and Solvas Compliance solutions for private credit operations.
• IGRES

Products and services

• Fund Administration Services Comprehensive fund administration including NAV calculation, fund accounting, financial reporting, capital administration, investor reporting, regulatory compliance, and audit support across private equity, venture capital, real estate, infrastructure, and private credit asset classes.
• AIFM Services Alternative Investment Fund Manager services enabling non-European fund managers to access European investors through EU-compliant fund structures. Supports $105 billion in assets under management across 260+ funds.
• Depositary Services Independent regulatory oversight functions including asset safekeeping, cash flow monitoring, and ongoing supervision of fund operations required under AIFMD. Covers $300 billion in assets across 950+ funds.
• Corporate Services / SPV Administration End-to-end SPV services across the entity lifecycle including HoldCos, PropCos, and financing vehicles. Manages 14,000+ SPVs and 80+ securitisation vehicles with 300+ compartments.
• Private Credit Fund Solutions Front-to-back-office support for managers of direct lending, CLOs, and broadly syndicated loans powered by integrated services and purpose-built platforms. Covers $1.5 trillion in debt capital market assets administered.
• Administrative Agency Services Independent loan agency services purpose-built for private credit, including payment processing, lender register maintenance, covenant monitoring, amendment management, and facility documentation control.
• Successor Agent Services Independent successor agency services for replacing existing administrative agents, providing seamless transfer with stabilized operations and stakeholder coordination for broadly syndicated loans and private credit.
• Solvas Portfolio Multi-asset class administration and reporting solution for private credit that simplifies operations and reduces back-office burdens across the asset lifecycle. Provides trade settlement, trustee collaboration, cash reconciliation, and risk reduction capabilities.
• Solvas Compliance CLO compliance platform that fills gaps in deal modeling and investor confidence. Configurable without programming knowledge, minimizes compliance risk for each CLO with automated compliance workflows.
• Solvas Digitize Document intelligence platform providing fully automated document receipt, data extraction, validation, and reconciliation. Produces highly accurate digitized information from complex corporate financial documents for strategic decision-making.
• Agency360 Proprietary platform for Alter Domus teams to perform all Loan Agency services. Handles calculations, notice preparation, payment processing, and tax reporting as a single source of data and operations.
• CorPro Secure web portal for fund managers and investors to access fund and asset-level financial data, distribute communications, and access reporting through a customizable application. Integrates with Alter Domus core accounting systems.
• Virtual Back Office (VBO) Accounting book of record and general ledger specializing in credit strategies. Handles loan and portfolio accounting specifics, serving as an ABOR or feeding a general ledger.
• IGRES (Integrated Global Real Estate Solutions) Purpose-built technology ecosystem for real estate asset management. Includes Data Exchange, ReportPro, and CorPro components for end-to-end administration from asset level up to investors.
• DealFact Technology-backed expertise platform enabling private credit managers to focus on core activities and grow their funds through front-office data and analytics services.
• Credit-Vision Streamlined operations and analysis platform for smarter investment strategies in private credit portfolios.

Quantifiable outcome

• $3.9 trillion in assets under administration
• +4 more outcomes

Named customers3 records

Segments10 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability3 records

Feature10 records

Partnerships

Four partnerships are on record, tiered core.

• Bain Capital CreditcoreStrategic or Co-development Partner · 18 February 2026Bain Capital Credit appointed Alter Domus to provide CLO middle and back office services and bank loan settlement services for its global liquid and structured credit portfolios valued at over $30 billion. Alter Domus replaced two incumbent outsourced providers and partnered with Octus for Sky Road credit portfolio management solution. This represents a significant expansion of the firms' long-standing relationship.
• OctuscoreTechnology or Integration · 18 February 2026Partnership with Octus and its Sky Road credit portfolio management solution to deliver industry-leading compliance and trade optimization capabilities for Bain Capital Credit mandate. Over $200 billion in assets under management run on the Sky Road platform.
• StepStone GroupcoreStrategic or Co-development Partner · 31 December 2025StepStone Group and Alter Domus announced partnership to launch SCP Spain, a product range offering Spanish investors direct access to global private equity co-investment opportunities across approximately 50 transactions primarily in the United States and Europe. The collaboration combines StepStone's co-investment expertise with Alter Domus Spain's fund administration capabilities.
• Partners GroupcoreStrategic or Co-development PartnerStrategic partnership with Partners Group announced. Alter Domus serves as outsourcing partner, providing strategic operational model design and custom operating solutions.

Scale indicators25 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Ocorian: Ocorian is a global provider of fund administration, corporate services, and fiduciary services across alternative investments, including private equity, real estate, and private debt. It is a comparable alternatives-focused specialist serving similar GP and LP client bases.
• SS&C Technologies: SS&C is a global fund administration and alternative investment technology provider (owner of GlobeOp, Advent, CRD). It is one of the largest direct competitors to Alter Domus across private equity, private credit, and hedge fund administration, with comparable cross-jurisdictional coverage and a strong technology stack.
• Citco Fund Services: Citco provides fund administration, custody, and corporate services to alternative investment managers and family offices globally. It is a direct peer in private equity and hedge fund administration, with a long-standing presence in fund-of-funds and complex fund structures.
• MUFG Investor Services: MUFG Investor Services is one of the largest independent administrators to hedge funds and private equity funds. It serves as a strong direct competitor on both fund administration and loan servicing, with a comparable cross-jurisdictional footprint.
• IQ-EQ: IQ-EQ (formed from the combination of Investors in People and Equity Trust) is a Luxembourg-rooted global fund administrator and corporate services firm serving private equity, infrastructure, debt, and real estate managers - a closely overlapping alternative asset administration specialist.
• CSC (Global Fund Services): CSC provides fund administration, SPV administration, and corporate services to alternative asset managers globally, including private equity, private debt, and real estate funds - closely overlapping with Alter Domus across both fund-level and entity-level services.
• TMF Group: TMF Group is a global provider of fund administration, corporate services, and SPV administration, headquartered in Luxembourg - closely aligned to Alter Domus on domicile, service mix, and target client base of alternative asset managers.

Broad incumbents

• Northern Trust: Northern Trust's asset servicing business provides fund accounting, administration, and depositary services globally. It directly competes for alternative investment mandates but offers these as part of a much broader custody and wealth management franchise.
• J.P. Morgan Fund Services: J.P. Morgan provides fund administration, custody, and depositary services as part of a much wider institutional banking and asset servicing franchise. Overlaps with Alter Domus on large-manager mandates and depositary, but competes as a broad incumbent rather than an alternatives specialist.
• State Street: State Street's Global Services business includes fund accounting, depositary, and alternative investment servicing at meaningful scale. It competes with Alter Domus on institutional alternative mandates, but as part of a much larger custodian and asset manager.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/alterdomus
• LinkedInlinkedin.com/company/alter-domus
• Instagraminstagram.com/alterdomus

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries8 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A10 records

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alter Domus