Institutional-grade back office
NAV, bookkeeping, tax, and K-1s handled to an institutional standard and delivered for you, with seasoned fund-admin specialists behind the numbers, not a vendor you have to manage.
SS&C is the largest fund administrator in the world, an outsourced back office built for institutional managers. Covercy One gives GPs who run real estate funds the same institutional-grade fund administration (NAV, bookkeeping, tax, K-1s), delivered inside one platform that also runs their fundraising, distributions, banking, and investor portal.

Book a 30-minute demo and we’ll map your fund admin needs to Covercy One, and show you exactly where it differs from SS&C.
Trusted by leading real estate funds and the GPs who run them
SS&C GlobeOp is the institutional standard, with trillions under administration. But if you run a real estate fund, “who’s biggest” isn’t the question. The question is who delivers accurate NAV, clean books, tax, and investor reporting for a fund like yours, and whether your back office is connected to how you actually raise capital and move money, or sitting off to the side as an outsourced service.
For a real estate fund, the day-to-day comes down to these. Covercy One is built to deliver all of them.
Accurate monthly and quarterly NAV, general ledger, reconciliations, and financial statements.
Tax coordination and K-1s prepared and delivered to all your investors, on time.
Clear reporting across many investors, positions, and entities, without spreadsheets.
Collecting capital and paying investors, executed and reconciled, not just tracked.
Subscriptions, accreditation, and e-signature handled where your investors already are.
Connectivity for RIA and broker-dealer distribution, plus transfer-agent services feeding your cap table.
Right-sized for the fund you actually run, with no enterprise minimums or RFP to get started.
A fair, capability-by-capability look, based on SS&C’s published materials and the Covercy One product. Where SS&C doesn’t publish a detail, we say so.
| Capability | Covercy One | SS&C |
|---|---|---|
| Service model | ||
| Service model | One platform you run, with fund admin delivered for you | Outsourced managed service (their team runs your back office) |
| Built for | GPs who run real estate funds | Institutional and large, complex multi-strategy managers |
| Capabilities | ||
| NAV & fund accounting | Institutional-grade NAV, GL, and reconciliations, on the platform | Yes, full multi-asset, multi-currency accounting |
| Bookkeeping & financial statements | Monthly and quarterly financials with audit support | Yes, full financial reporting |
| Tax prep & K-1s | Tax coordination and K-1s delivered to all your investors | Yes, tax and K-1 services |
| Investor reporting at scale | Real-time portal reporting across many positions and entities | Investor statements via GoCentral |
| Investor portal | Included, a real-time LP portal, not a separate product | Yes, via GoCentral |
| Fundraising & onboarding | Subscriptions, accreditation, and e-sign in the platform | Not a focus of the fund-admin offering |
| DTCC/AIP connectivity | Yes, for RIA and broker-dealer distribution | Yes, institutional connectivity |
| Transfer agent | Transfer-agent services feeding directly into the cap table | Yes, transfer-agent services |
| AI | Neo, an AI Co-GP across the platform (ask, draft, surface insights) | Yes, GoCentral AI within the operations model |
| Money movement | ||
| Integrated banking accounts | Built in, open GP/fund bank accounts in-platform | Not an embedded rail (treasury/wire as a service) |
| Capital calls & distributions | Collected and paid in-product (ACH/wire), then reconciled | Wire management as a servicing function |
| Commercials | ||
| Pricing | Transparent and right-sized for your fund | Enterprise / RFP; pricing not published |
| Onboarding | Self-serve setup with guided onboarding | Proposal-driven, customized engagement |
SS&C details reflect publicly available materials (ssctech.com) and industry reporting; SS&C does not publish pricing. “Not an embedded rail” means the capability is handled as a servicing function, not as an in-product banking/payments feature.
SS&C runs your back office as a service that sits apart from how you raise capital, move money, and talk to investors. With Covercy One, the institutional-grade fund administration (NAV, bookkeeping, tax, K-1s, DTCC, transfer agent) runs inside the same platform that automates your fundraising, capital calls, distributions, banking, and investor portal. One system, one source of truth, one team accountable to you.





| Property | Type | Status | AUM | Fundraise Progress | Investors | IRR |
|---|---|---|---|---|---|---|
![]() Riverton Tower New York, NY | Office | Active | $52,400,000 | 100% $52,400,000 committed | 24 | 18.4% |
![]() Prescott Place New York, NY | Mixed Use | Raising | $38,200,000 | 65% $24,800,000 committed | 18 | 15.1% |
![]() The Whitmore Building New York, NY | Retail | Active | $34,800,000 | 100% $34,800,000 committed | 12 | 12.8% |
![]() Morristown Commons Morristown, NJ | Multifamily | Raising | $26,600,000 | 45% $11,970,000 committed | 31 | 9.2% |
| Entity | Holding | Fundraise | Class | Class % | Deal % | Commitment | Contributions | Distributions | Capital Acct | Created |
|---|---|---|---|---|---|---|---|---|---|---|
| Scott Brennan | Riverton Tower | RVT First Raise | Class A | 16.67% | 4.76% | $500,000 | $500,000 | $0 | $532,100 | Jan 15, 2024 |
| Nathan Perry | Riverton Tower | RVT First Raise | Class A | 33.33% | 9.52% | $1,000,000 | $1,000,000 | $42,000 | $1,058,200 | Jan 15, 2024 |
| Hawthorne LLC | Riverton Tower | RVT Fundraise 2 | Class B | 50.00% | 4.76% | $2,500,000 | $1,250,000 | $0 | $1,312,500 | Jun 3, 2025 |
| Rachel Bennett | Riverton Tower | RVT First Raise | Class A | 16.00% | 4.58% | $2,400,000 | $2,400,000 | $84,000 | $2,516,400 | Jan 20, 2024 |
| Tyler Morgan | Morristown Commons | Morristown Fund | Class A | 10.00% | 6.95% | $1,850,000 | $925,000 | $0 | $948,125 | Mar 1, 2025 |
| David Hawkins | Morristown Commons | Morristown Fund | Class A | 28.00% | 19.55% | $5,200,000 | $2,600,000 | $0 | $2,665,000 | Mar 1, 2025 |
| Bennett Family Trust | Riverton Tower | RVT First Raise | Class A | 110.00% | 14.29% | $3,000,000 | $3,000,000 | $126,000 | $3,174,600 | Feb 1, 2024 |
| Karen Mitchell | Prescott Place | Prescott Place Raise | Class A | 8.33% | 1.96% | $750,000 | $375,000 | $0 | $381,250 | Sep 15, 2025 |
| Brian Foster | Riverton Tower | RVT Fundraise 2 | Class B | 25.00% | 5.90% | $3,100,000 | $1,550,000 | $0 | $1,581,000 | Jul 10, 2025 |
| Laura Chen | Prescott Place | Prescott Place Raise | Class A | 13.33% | 3.14% | $1,200,000 | $600,000 | $0 | $612,000 | Oct 5, 2025 |
| Megan Walsh | Riverton Tower | RVT First Raise | Class A | 8.33% | 2.38% | $250,000 | $250,000 | $10,500 | $265,500 | Jan 15, 2024 |
| Hannah Cole | Riverton Tower | RVT Fundraise 2 | Class B | 25.00% | 3.81% | $2,000,000 | $1,000,000 | $0 | $1,020,000 | Aug 20, 2025 |
| Name | Company | Type | Stage | Committed | Last Contact | Owner | |
|---|---|---|---|---|---|---|---|
RB Rachel Bennett rachel@bennettcap.com+1 (212) 555-0148 | Bennett Capital Managing Partner | Entity | Committed | $2,400,000 | 2d ago | Scott B. | |
DH David Hawkins d.hawkins@hfo.com+1 (646) 555-0192 | Hawkins Family Office Chief Investment Officer | Family Office | Committed | $5,200,000 | 1d ago | Nathan P. | |
TM Tyler Morgan tyler.morgan@gmail.com+1 (917) 555-0174 | — Individual Investor | Individual | Soft Circle | $1,850,000 | 5h ago | Megan W. | |
KM Karen Mitchell karen@mitchholdings.com+1 (718) 555-0161 | Mitchell Holdings LLC Principal | Entity | In Diligence | $750,000 | 12h ago | Scott B. | |
BF Brian Foster bfoster@fosterequity.com+1 (415) 555-0133 | Foster Equity Group Managing Director | Entity | Committed | $3,100,000 | 3d ago | Nathan P. | |
LC Laura Chen laura.chen@outlook.com+1 (510) 555-0126 | — Individual Investor | Individual | Soft Circle | $1,200,000 | 1w ago | Megan W. | |
AG Allison Grant agrant@grantcap.co+1 (203) 555-0189 | Grant Capital Partners Partner | Entity | Prospect | $0 | 2w ago | Scott B. |
| Task | Priority | Due Date | Assignee | Status | |
|---|---|---|---|---|---|
Follow up with Rachel Bennett on wire confirmation Rachel Bennett · RVT Fund 2 | High | Apr 4, 2026 2d overdue | NP Nathan Perry | Open | |
Call Tyler Morgan re: capital call extension request Tyler Morgan · Morristown Fund | High | Apr 3, 2026 3d overdue | NP Nathan Perry | Open | |
Send rent rolls to Karen Mitchell for Prescott Place Karen Mitchell · Prescott Place | High | Apr 5, 2026 1d overdue | SB Scott Brennan | Open | |
Verify accreditation for Allison Grant Allison Grant · RVT Fund 2 | Medium | Apr 2, 2026 4d overdue | MW Megan Walsh | Open | |
Schedule capital call for Morristown Q2 Morristown Commons Fund | Medium | Apr 8, 2026 | MW Megan Walsh | Open | |
Send subscription docs to Laura Chen Laura Chen · Prescott Place | Medium | Apr 9, 2026 | SB Scott Brennan | Open | |
Prepare investor update deck — Whitmore Q1 Whitmore Building | Medium | Apr 10, 2026 | CD Chris Davenport | Open | |
Send Q4 distribution notices to RVT investors RVT First Raise · 24 investors | Low | Mar 28, 2026 | MW Megan Walsh | Completed |
Occupancy rose to 94.5% in Q4, driven by strong leasing momentum and the opening of a new elementary school adjacent to the property, which is expected to boost residential demand throughout 2026.
| Document | Path | Shared with | ||
|---|---|---|---|---|
PDF | RVT — Private Placement Memorandum 2.4 MB | /Riverton Tower/Legal | RB TM +21 | |
XLS | RVT Q4 2025 — Capital Account Statements 148 KB | .../Reports | RB +22 | |
PDF | RVT — Subscription Agreement (Template) 890 KB | .../Legal | — | |
XLS | RVT — Distribution Waterfall Model 312 KB | .../Finance | — | |
PDF | RVT — 2025 K-1 Tax Package 1.1 MB | .../Tax | RB +22 | |
PPT | RVT — Investor Presentation Q1 2026 5.8 MB | .../Marketing | RB +5 | |
PDF | RVT — Phase II Environmental Report 3.2 MB | .../Due Diligence | — | |
DOC | RVT — Operating Agreement (Executed) 245 KB | .../Legal | — | |
XLS | RVT — Rent Roll March 2026 86 KB | .../Operations | — | |
PDF | RVT — Appraisal Report (Jan 2026) 4.7 MB | .../Valuation | — |
| Fund | Type | Investors | NAV | Capital Called | Distributions | Status |
|---|---|---|---|---|---|---|
| RVT First Raise | Office | 24 | $52.4M | 100% | $1.86M | Current |
| Prescott Place Raise | Mixed Use | 18 | $38.2M | 65% | $0 | In Review |
| Whitmore NYC Fund 3 | Retail | 12 | $34.8M | 100% | $840K | Current |
| Morristown Commons Fund | Multifamily | 31 | $26.6M | 45% | $0 | Current |
| Glendale Raise | Industrial | 8 | $12.1M | 78% | $0 | Current |
| Investor | Fund | EIN/SSN | K-1 Status | Delivered | Method |
|---|---|---|---|---|---|
| Rachel Bennett | RVT First Raise | ***-**-4821 | Delivered | Mar 12, 2026 | Email + Portal |
| Rachel Bennett | Morristown Commons | ***-**-4821 | Delivered | Mar 12, 2026 | Email + Portal |
| Tyler Morgan | RVT First Raise | ***-**-7733 | Delivered | Mar 14, 2026 | Email + Portal |
| David Hawkins | Morristown Commons | ***-**-1190 | Generated | — | — |
| Brian Foster | RVT Fundraise 2 | ***-**-5502 | Delivered | Mar 15, 2026 | Email + Portal |
| Karen Mitchell | Prescott Place Raise | ***-**-8847 | Processing | — | — |
| Laura Chen | Prescott Place Raise | ***-**-3319 | Processing | — | — |
| Scott Brennan | Whitmore Fund 3 | ***-**-6654 | Generated | — | — |
| Scott Brennan | RVT First Raise | ***-**-6654 | Delivered | Mar 12, 2026 | Email + Portal |
| Nathan Perry | RVT First Raise | ***-**-2201 | Delivered | Mar 12, 2026 | Email + Portal |
| Hawthorne LLC | RVT Fundraise 2 | **-***-9082 | Not Started | — | — |
| Bennett Family Trust | Whitmore Fund 3 | **-***-4410 | Processing | — | — |
Three things define the Covercy One difference for the fund you run.
NAV, bookkeeping, tax, and K-1s handled to an institutional standard and delivered for you, with seasoned fund-admin specialists behind the numbers, not a vendor you have to manage.
Fundraising, capital calls, distributions, and banking run in the same platform, the work an outsourced back-office service leaves on your plate.
Fund admin, investor portal, payments, and reporting live in one system, with Covercy as your single point of accountability.
Neo is the AI layer built into Covercy One. Ask about fund performance or an investor in plain English, draft investor updates from live data, and run workflows like capital-call prep through conversation. It is the kind of front-office leverage an outsourced administrator can’t give you.
Explore Neo
Trusted by real estate GPs
We moved our fund admin over expecting months of pain. It took weeks, and now our back office actually connects to how we raise capital and pay investors.
LeitboxOur fund administration finally keeps up with us. NAV, investor reporting, and distributions are handled in one place, and our LPs notice the difference.
ProterraWe’ll be straight with you: for some managers, SS&C is the better fit, and pretending otherwise would not help you make a good decision.
Covercy One is built for a different profile: GPs who run real estate funds and want institutional-grade fund admin and an automated front office in one platform.
This isn’t about being the cheap option, it’s about not paying for institutional scale you don’t use. SS&C is priced and built for managers running trillions across many asset classes. Covercy One delivers the fund-admin work you need plus the front office around it, sized for the fund you run.
SS&C does not publish pricing; engagement is enterprise/RFP-based. Industry analyses note large administrators can carry minimum fee thresholds that are cost-prohibitive for smaller and emerging funds.
Most real estate GPs are live on Covercy One in weeks, not the multi-month RFP cycle enterprise admin requires.
A short working session maps your entities, investors, and reporting needs to Covercy One, with no RFP and no proposal cycle.
We help bring over your investor records, entities, and historical positions so your capital accounts are accurate from day one.
Open fund bank accounts, invite your LPs to the portal, and run your first capital call or distribution with our team alongside you.
Book a 30-minute demo and we’ll show you exactly where Covercy One fits your fund.