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Trident Trust
Year-on-Year Comparison Trident Trust Average Score 2022 Average Score 2021 Average Score last 3 years Global Average Difference with Global Average Client Service 6.50 6.08 6.35 5.97 0.53 On-boarding 6.75 6.64 6.62 5.99 0.76 Reporting to Limited Partners 6.60 6.25 6.57 6.06 0.54 Reporting to General Partners 6.67 6.00 6.35 6.13 0.54 Reporting to Regulators 6.67 5.80 6.41 5.87 0.80 KYC , AML , Sanctions Screening 6.60 6.54 6.65 5.88 0.72 Capital Drawdowns and Distributions 6.60 6.50 6.54 6.16 0.44 Technology 6.40 5.42 5.98 5.62 0.78 Average 6.60 6.15 6.44 5.96 0.64
Trident Trust administers approximately $ 29 billion in committed capital on behalf of various private funds and strategies . With a relatively small response pool this year , Trident Trust has nevertheless seen a notable increase on 2021 ’ s scores , which , will still impressive , represented a drop on the previous year . All categories record ratings above 6.00 and over 90 % of individual category ratings awarded equate to Excellent or Very Good . Category scores are all well above the survey average , most notably in the areas of Reporting to Regulators , Technology and On-boarding . The last of these attracts attention from one respondent who lauds the fact that , “ The on-boarding process is done by the same team that does the day to day which is very helpful .” Client comments are few , but enthusiastic . “ Trident is extremely responsive and helpful in all aspects of their service . The attention to detail is excellent and the accuracy of the reporting is impeccable ,” says one client . Another confirms that they are “ extremely satisfied with all aspects of the services Trident provides and would be a reference for them to any future clients ”. The firm ’ s progress in this year ’ s survey appears to bear out observations made by Trident in the 2021 survey , where it was upbeat about potential for business growth : “ Investor pressure ( and other environmental pressures ) to appoint a thirdparty administrator continue to drive the overall growth of the administration market ,” it suggested . “ This growth trend is likely to continue for the next three to five years and is the main driving factor for the very high multiples being paid to acquire PE fund administrators .”
96 Global Custodian Fund Services Annual 2022