The Company
Alter Domus is one of the world’s largest providers of integrated solutions for the alternative investment industry. They offer fund administration, corporate services, capital administration, transfer pricing, domiciliation and management company services. Their specific experience in the debt capital markets sector allows them to provide loan administration, agency services, trade settlement and CLO manager services. Founded in Luxembourg in 2003, Alter Domus has 37 offices worldwide. The company serves 25 of the 30 largest private equity houses in the world, 26 of the 30 largest real estate firms and 26 of the 30 largest private debt managers.
The Challenge
Multiple Systems Spawn Inefficiency
Before Yardi Debt Manager, Alter Domus used multiple systems for lender and borrower notices, bank file submission and other fund administration activities connected with its loan servicing offerings. Multiple systems were utilized for mortgage servicing, syndicated commercial debt and other operations.
“We manually did the loan-specific calculations, protection and indemnity insurance tracking, escrows and tax calculations, then moved them to spreadsheets or another platform to perform allocations for our syndicated lenders. The volume of work was time-consuming and inefficient, especially in our highly complex international dealings,” recalled Alex Droste, global real estate platform leader for Alter Domus.
The Solution
Yardi Debt Manager
Alter Domus adopted Yardi Debt Manager, which delivers transparency from investor to borrower with a complete system to account for real estate debt investments. The system automates the billing of borrowers, collateral tracking and critical data management. Yardi Debt Manager represents a fully integrated real estate debt platform that enabled Alter Domus to eliminate manual processes and disparate systems.
The Story
End-to-End Efficiency, Elevated Customer Service
“Debt Manager streamlined our operations and let us execute end-to-end debt investment services,” Droste said. “All investment data is accessible to everybody in one shared environment, without needing middleware to move data between systems or spreadsheets that must be imported. And Debt Manager’s integration with Yardi Investment Accounting means we can provide a full-service debt management offering with full visibility for complex ownership structures.”
