Your Data Is Already Organized
When fund admin starts, your investor records, cap tables, and transaction history are already clean in Covercy. No chaotic data migration. No spreadsheet archaeology.
FUND ADMINISTRATION / HOW WE DELIVER
Why Going Through Covercy Changes Everything
You could go directly to any fund administrator. But they'd be processing disconnected data without knowing your investors. Covercy organizes your operations first - then fund admin plugs into a foundation that's already working.
December 2, 2025
Read the Full AnnouncementStrategic Partnership Announced
Covercy and NAV Fund Services announced a strategic partnership to deliver comprehensive fund administration solutions, combining Covercy's integrated investment management platform with NAV's deep expertise in fund administration.
The Covercy Advantage: Investment Management First
Traditional fund admins are back-office processors. You send them data, they crunch numbers and send back reports. Your investor portal, payments, waterfalls, and data management remain your problem. Covercy flips that model.
Your Investors Already Have a Portal
NAV won't give your LPs a modern investor experience. Covercy will. Capital accounts, documents, K-1s, and transaction history - all accessible 24/7 before fund admin even starts.
Your Waterfalls Already Work
Distribution calculations happen where your deal terms live - in Covercy. Fund admin receives clean results, not messy spreadsheets to decipher.
Your Payments Execute Automatically
When distributions are calculated, payments flow directly to investor bank accounts. No manual wires. No coordinating between fund admin and your bank.
Fund Admin Gets Better Inputs
The dirty secret of fund administration: garbage in, garbage out. When your data is already organized, fund admin is dramatically faster and more accurate.
Your Investors See One Experience
Going direct to a fund admin means your LPs interact with multiple vendors. Covercy presents one unified platform - professional, modern, and investor-first.
This is why going through Covercy beats going directly to any fund administrator. It's not just about who processes your books - it's about organizing your entire operation so that fund admin actually works.
Direct to Fund Admin vs. Through Covercy
See the difference when fund administration is built on an investment management platform.
Direct to Fund Admin
Through Covercy
Investor Portal
Basic document repository (if any)
Full portal with capital accounts, docs, and history
Waterfall Calculations
You figure it out, send them results
Built-in, feeds directly to fund admin
Distribution Payments
Manual wires after fund admin reports
One-click execution from waterfall results
Data Quality
Whatever you send them
Clean, organized data from day one
Investor Experience
Fragmented, multiple vendor touchpoints
One unified, professional experience
K-1 Delivery
Email or mail, you distribute
Available in investor portal automatically
Why We Chose NAV Fund Services
For the fund administration engine itself, we needed a partner with unmatched expertise. NAV Fund Services brings 30+ years of experience, $350B+ under administration, and 99% client retention. But going through Covercy means you get NAV's expertise without losing control of your investor relationships.
“Our partnership with NAV Fund Services represents a significant step forward in Covercy's mission to deliver the most comprehensive and efficient investment management platform in the market. By integrating NAV's proven fund administration expertise with our technology, we're empowering fund managers to operate with greater transparency, accuracy, and scalability.”
About NAV Fund Services
NAV Fund Services is a privately owned fund administrator recognized globally for award-winning solutions and innovative proprietary technology. They power the back-office - Covercy powers everything else.
30+
Years of Experience
Founded in 1991, NAV has been delivering fund administration for over three decades.
$350B+
Assets Under Administration
NAV administers funds across hedge funds, private equity, real estate, and digital assets.
2,300+
Clients Worldwide
From emerging managers to billion-dollar institutions across global markets.
3,400+
Professionals
Dedicated teams in the US, India, Australia, Cayman Islands, Ireland, and more.
99%
Client Retention
Industry-leading retention reflects NAV's commitment to service excellence.
#1
Global Hedge Fund Admin
Ranked #1 by HFM across multiple categories for expertise, service, and technology.
Industry Recognition
NAV Fund Services is consistently recognized as a leader in fund administration:
- Ranked #1 Global Hedge Fund Administrator by HFM
- Leader in Digital Asset Fund Administration
- Award-winning proprietary technology platform
- Recognized for premium client service and rapid reporting
“We look forward to partnering with Covercy to deliver a new level of automation and efficiency to fund administration. The combination of NAV's commitment to providing premium solutions and excellent client services, combined with Covercy's powerful investment management technology creates a complete end-to-end solution to meet the evolving needs of modern fund managers.”
How the Partnership Works
Covercy is your front office and your interface. NAV is the back-office engine. Together, you get both - without juggling vendors.
Covercy Provides (Your Front Office)
- Investor portal with 24/7 access to capital accounts
- Waterfall calculations and distribution management
- Banking and one-click payment processing
- Client relationship and single point of contact
- Data organization and cap table management
- Fundraising workflows and subscription management
NAV Fund Services Delivers (Back Office)
- Fund accounting and general ledger
- NAV calculations and performance reporting
- Official investor capital account maintenance
- Transfer agent services (subs, redemptions, KYC)
- DTCC AIP connectivity and RIA reporting
- Audit workpapers and K-1 data preparation
The Result: One Integrated Experience
Data flows automatically between Covercy and NAV. Your investors see one professional platform. You work with one team. And fund admin runs on organized data instead of chaos.
Integrated Data Flow
This is what "integrated" actually means: data moves seamlessly between systems, eliminating manual entry and the errors that come with it.
1
Investor Data Organized
Your investors, cap table, and deal terms live in Covercy. Clean, current, and accessible to your team and your LPs.
2
Fund Admin Receives Clean Data
NAV gets structured data feeds from Covercy - not spreadsheets, emails, or PDFs to reconstruct.
3
Reports Flow Back to Portal
Financial statements, capital account balances, and K-1s flow back to Covercy for LP access.
4
Distributions Execute Automatically
Waterfall results integrate with Covercy's payment processing. One click sends funds to investor bank accounts.
What This Means for You
Stop Juggling Vendors
No more coordinating between your portal provider, fund admin, CPA, and payment processor. Covercy handles it all.
Give Investors What They Expect
Modern LPs expect 24/7 portal access, real-time information, and professional communications. Traditional fund admins don't deliver that.
Keep Control of Relationships
Your investors interact with your brand through Covercy, not with a back-office processor they've never heard of.
Get Better Fund Admin Output
When data is already organized, fund admin is faster, more accurate, and cheaper. Better inputs, better outputs.
Scale Without Re-Platforming
NAV administers funds from emerging managers to multi-billion dollar institutions. The infrastructure grows with you.
One Price, One Vendor
Pay Covercy for the integrated solution. We manage NAV, integrations, and support. No vendor management overhead.
Global Reach
NAV provides fund administration services for funds domiciled in numerous global jurisdictions.
United States (headquarters)Cayman IslandsIrelandAustraliaMauritiusPhilippinesSingaporeIndia (service center)
Contact us for information about services available in your specific jurisdiction.
Partnership FAQs
- Why not partner directly with a fund administrator like SS&C or Apex Group?
- Traditional fund administrators are back-office processors that handle fund accounting and NAV calculations, but they don't provide investor portals, waterfall calculations, payment processing, or data organization. Going through Covercy means you get organized operations first - then fund administration plugs into a foundation that's already working. Your investors get a modern experience, and the administrator receives clean, structured data instead of disconnected spreadsheets.
- Who do I work with day-to-day?
- Covercy is your primary point of contact. You'll have a dedicated client success manager at Covercy and a named fund accountant at NAV. For most inquiries, you work directly with Covercy.
- Is NAV a "white label" service?
- NAV is our strategic partner, not a white-label provider. They bring genuine expertise and infrastructure. We're transparent about the partnership because their credentials matter to sophisticated buyers.
- What if I already use NAV directly?
- We can discuss how Covercy's platform can complement your existing NAV relationship - adding investor portal, waterfall engine, and payment processing to what NAV already does for you.
- How does pricing work?
- You pay Covercy a single fee for the integrated solution. We manage the NAV relationship. Pricing is transparent and based on your fund's size and service needs - often less than cobbling together separate vendors.
- What happens if we outgrow this model?
- The model scales. NAV administers funds from emerging managers to multi-billion dollar institutions. As you grow, the infrastructure grows with you - no re-platforming required.
Ready to see the difference?
Talk to a specialist about fund administration built on an investment management platform.