Selene Platform
The complete fund operations platform.
Selene is for fund administrators, asset managers, insurers, and private credit and private asset managers. Twelve core domains cover the whole life of a fund, from entities and fund structures to investor onboarding, capital calls, deals, NAV, waterfalls and reporting. Fifteen more sit around them, covering reconciliation and oversight, regulatory filing, US tax, derivatives, collateral, credit operations, liquidity, trading and migration. Most teams use it to replace several systems with one, which cuts both the running cost and the reconciliation work.
Why teams run on Selene
Every strategy on one platform
Private equity, hedge, venture, credit, real assets and fund of funds all run on the same data model. Selene was designed for multi-strategy managers from the start, so the hedge book never needs a second system or a bridge file.
One ledger, every book
ABOR, IBOR and shadow books live in one ledger. The NAV engine strikes at fund, class, series and investor level, across GAAPs and currencies, with maker-checker controls on every posting.
Compliance in the everyday workflow
KYC, sanctions and PEP screening, MiFID II onboarding and AIFMD, FATCA and CRS reporting are part of the normal process, backed by an audit log that is never deleted.
Selene
One ledger, every book.
ABOR, IBOR and shadow books, the NAV, the reconciliations and every regulatory file come from the same ledger, so the figures you file are the figures you struck.
What we set out to fix
✗ Traditional Systems
✓ The Selene Approach
Separate tools for accounting, transfer agency, compliance and reporting, and data that never quite lines up between them
Fund accounting, transfer agency, middle office and compliance on one platform, working from one set of data
Business rules are hard-coded, so changing a waterfall means months of waiting on the vendor
European, American and hybrid waterfalls are set up through parameters, with no code changes
Days spent matching positions, chasing breaks and tracing cash movements
Reconciliations against your administrator run automatically, your team only sees the exceptions, and each break comes with its likely cause
A separate reconciliation tool works from extracts of your books, and every fix is keyed back by hand
Selene reconciles its own books, and resolving a break can propose the correcting journal for approval
Regulatory filings pieced together from spreadsheets at quarter-end
Form PF, Annex IV, EMIR, FATCA and CRS files produced from the same ledger as the NAV, with a continuous audit trail
A break, explained and resolved
1,284Matched
3Breaks
99.8%Auto-matched
2Likely causes
Likely cause Valuation FX rate differs 2 breaks · USD/EUR at 31 Oct
PositionSeleneAdministrator
Orion Topco · equity1.08421.0856
Vega Midco · loan notes1.08421.0856
Suggested fix
Use the administrator’s 4pm fixing. Your team chose this for 9 of the last 11 breaks with this cause.
Resolve group ✓ Resolved by T. Bennett with a confirmed reason · correcting journal sent for approval
Likely cause Missing at administrator 1 break · trade booked 31 Oct, settles 4 Nov Open
How Selene compares, module by module
100%
Selene capability coverage, across the twelve core modules
81%
Average coverage of the best legacy alternative, per module
Entities & Counterparties
Fund Structure
Vehicles & Master-Feeder
Investor Lifecycle
Capital Operations
Portfolio & Deals
Accounting & NAV
Waterfall & Carry
Hedge Fund Operations
Compliance & Regulation
Portals & Documents
Performance & Reporting
Assessed capability by capability against five leading fund platforms. "Best alternative" is the highest score any of them achieved for that module; no single platform achieves these scores across the board.
Who runs on Selene
Fund AdministratorsAsset & Fund ManagersInsurersPrivate Credit ManagersGPs & Family Offices
Fund coverage
Private EquityHedge FundsVenture CapitalPrivate CreditReal AssetsInfrastructureFund of FundsSMAUCITSRAIF
Domicile coverage
United StatesEuropean UnionUnited KingdomCayman IslandsBVIIrelandLuxembourgSingaporeUAECanada
Selene at a glance
Platform modules 27 modules
Books of record ABOR · IBOR · Shadow
Fund coverage PE · HF · VC · Credit · Real Assets
Regulatory reach AIFMD · Form PF · EMIR · FATCA · CRS
Platform modules
Entities & Counterparties
A live register of funds, GPs, LPs, SPVs, banks and advisers. KYC status, beneficial-ownership chains and sanctions and PEP screening all sit on the same record.
KYC · UBO · Screening Fund Structure
Every fund type and lifecycle stage is supported. Strategy, legal form, fees, hurdles, carry and waterfall terms are configured per fund, including the non-standard ones.
Fees · Hurdles · Waterfalls Vehicles & Master-Feeder
Masters, feeders, blockers, SPVs, parallel funds and co-invest vehicles in one chart. Capital flows cascade through each tier, with look-through and consolidation handled for you.
Full Structure Stack Investor Lifecycle
Guided onboarding covering MiFID II classification, suitability, FATCA and CRS self-certification and side letters, with a regulatory audit log that is never deleted.
Regulated Onboarding Capital Operations
Capital calls and distributions from notice to settlement, including equalisation on later closes, withholding, recallable amounts and pro-rata allocation across hundreds of LPs.
Calls → Distributions Portfolio & Deals
From pipeline to realisation: deal terms, tranches, drawdown schedules, interest accrual, covenant tracking and controlled valuations, all audited before they reach the NAV. Portfolio companies report their KPIs through their own portal, those KPIs can drive covenant tests, and the valuation committee works from sealed marks and a sensitivity grid, with approval withdrawn automatically if an input changes.
Deal → Ledger Waterfall & Carry
European, American and hybrid waterfalls with tiered hurdles, catch-up, clawback and vesting. Each tier keeps its full calculation trail, and LPs get their own carry statements.
Carry Without Spreadsheets Hedge Fund Operations
Daily NAV with P&L attribution, incentive fees, high-water marks, gates, lock-ups, side pockets and series accounting, on the same engine as the private equity side.
Daily NAV · Liquidity Compliance & Regulation
AIFMD, Form PF, MiFID II, PRIIPs, FATCA, CRS and Canadian regimes, with approval matrices, segregation of duties and versioned policies.
Widest Regulatory Reach Portals & Documents
Investor, GP and auditor portals on live data, with watermarked delivery, e-signature, versioned documents and capital account statements whenever they are needed. Signing envelopes are tracked from sending to completion, and documents can be certified as true copies with their own signed certificate. LPs can delegate authority to view, sign or pay, raise secure enquiries, reuse KYC evidence across funds with consent, and follow net IRR, TVPI, DPI and RVPI over time.
Three Portals · One System Performance & Reporting
IRR, TVPI, DPI, MOIC, PME, Sortino, Calmar and Jensen’s alpha against single or blended benchmarks, with look-through exposure across invested funds. A catalogue of more than 65 reports, including the schedule of investments, J-curve and deal MOIC, sits alongside a drag-and-drop report builder, branded investor packs and API access to every metric.
No-Code Reporting Reconciliation, filing, tax, risk and trading on the same ledger
Oversight, filing and audit
Reconciliation & Oversight
Around 30 ready-made reconciliations and controls check NAV, capital, distributions, trades, dividends, positions and the investor register against your administrator and custodians, with two- and three-way matching and many-to-many cash pairing. Selene reconciles its own books, so there is no extract to build, and custodian feeds start the recs on arrival. Breaks are grouped by likely cause with the fix your team used most often, and resolving one can propose the correcting journal under maker-checker. A daily oversight pack, which you can rebuild as it stood on any past day, and depositary cash-flow and asset monitoring sit on top.
Recs · Controls · Depositary Regulatory Filing
Form PF Sections 1, 2, 4, 5 and 6 as PFRD XML, AIFMD Annex IV in ESMA XML, EMIR REFIT in ISO 20022 with trade repository feedback and reconciliation, FATCA and CRS XML with corrections and voids, the Solvency II tripartite template with all 152 columns and UCITS VaR reporting, all produced from the ledger that strikes the NAV. A regulatory calendar shows what each fund owes and when, each submission can be rehearsed in a practice run first, and final filings are produced when a fund closes.
Form PF · Annex IV · EMIR US Tax & K-1s
Schedule K-1s for Forms 1065, 1041 and 8865, issued on the IRS forms themselves and delivered through the investor portal on paper or electronically, as each investor prefers. K-1s prepared elsewhere can be bulk-uploaded and matched to investors, Form 7004 extension deadlines are tracked, W-9 and W-8 forms are collected online, tax IDs are stored encrypted, and full tax IDs go to a named preparer only after a second person approves.
K-1 · W-9 · W-8 Audit & Financial Statements
A prepared-by-client list, lead schedules, auditor confirmation letters and draft financial statements with comparatives, including IFRS 7 and ASC 210-20 offsetting notes for derivatives. Period-close sign-off and a separate portal for your external auditors come with it, and any NAV, fee or capital account can be explained line by line, with the evidence behind it.
PBC · Auditor Portal Trading, risk and financing
Derivatives & Risk
Interest rate, cross-currency, amortising, equity, credit default and quanto swaps, CFDs, FX swaps and NDFs, futures with physical delivery and rolls, warrants, and options with Greeks, volatility surfaces and Bermudan exercise. CDS credit events settle through the auction. VaR runs as Monte Carlo, parametric, historical, filtered-historical or Cornish-Fisher with incremental VaR, is backtested with Kupiec and Christoffersen tests and a Basel traffic light, and sits alongside stress and reverse stress tests. Investors can receive risk packs in the portal.
Swaps · Options · VaR Collateral & Margin
CSA and clearing-house terms with thresholds, minimum transfer amounts, rounding and independent amounts. Margin calls are agreed or disputed and settled in cash or securities after haircut, cash collateral accrues at SOFR, €STR or SONIA plus a spread, and securities collateral is revalued daily. Counterparty OTC marks are checked against the model value, and breaks go to the valuation committee before they can reach the NAV.
CSA · Margin Calls · OTC Marks Fixed Income & Credit Operations
FRN fixings compounded in arrears under the 2021 ISDA rules, ex-coupon periods, issuer calls and holder puts under maker-checker, and a queue of maturities and sinking-fund redemptions, with OAS and Z, I and G spreads. Loan-agent notices are read into event proposals for review, and PIK, rollovers, syndicated shares, non-accrual and waivers run on the same ledger as the rest of the fund.
Bond Lifecycle · Agent Notices · PIK Liquidity & Financing
Versioned cash scenarios for LP defaults and cures, delayed exits and FX shocks, with your subscription facility capped by its borrowing-base covenant so the headroom is always in view. Cash is attributed by custodian, restricted cash is shown separately, and the whole-fund view consolidates every book.
Cash Scenarios · Subscription Lines Front Office & Trading Compliance
Pre-trade and post-trade compliance with a breach register, trade capture over live FIX sessions, RFQs for bond, FX and derivative orders with the best quote and spread recorded, and performance attribution, including Brinson-Fachler, fixed-income and factor-risk attribution.
FIX · RFQ · Pre-Trade Order Management & Rebalancing
Orders allocated across funds and approved after pre-trade checks, with a real-time blotter of exposure by fund and currency, and bond orders placed by price or by yield. Model portfolios show their drift and propose a rebalance that respects cash, trading units and restricted lists, a what-if runs the trades through compliance, VaR and liquidity first, opposing trades across funds are netted, and soft breaches go to a phone approval link that expires after four hours.
Blotter · Models · Mobile Approval Investor services
Investor Notices & Payment Safety
Notices are approved before release, produced in English and French, and delivered to each recipient by portal, print or email, with acknowledgements recorded and corrections reissued as a complete set. A distribution only goes to a bank account verified by call-back to a contact already on record, new payees can be held for their first payment, and any exception needs a second approver.
Approved Notices · Verified Payees LP Services & Terms
ILPA Reporting Template v2.0, Performance Template v1.1 and Capital Call & Distribution Template v2.0, a register of LPA and side-letter terms with MFN elections tracked, digital subscriptions with sealed e-signing, and onboarding and portal access for individual investors.
ILPA · Side Letters · MFN Data, AI and migration
Fund Assistant & Analytics
Ask the fund assistant about a NAV, a fee or an investor’s capital and the answer is calculated from the ledger itself, with the records behind it. Dashboards can be described or changed in a sentence on governed analytics datasets, and a public API with OpenAPI and webhooks, plus a permission-scoped MCP host, lets your own systems and AI tools work with Selene safely.
Evidence-Backed Answers · API Migration & Parallel Run
Exports from your current fund platform are kept with their hashes and field mappings are suggested for you. Repeatable dry runs reconcile LP capital, the trial balance and positions at the cutover date, each break explanation is accepted by a second person, and nothing posts until the cutover itself is approved.
Dry Runs · Approved Cutover The life of a fund in Selene
01 Counterparty Onboarded KYC complete
02 Fund Created Terms defined
03 Investor Subscribes LP onboarded
04 Capital Call Issued Notices delivered
05 Cash Reconciled Settlement matched
06 Money Invested Deals booked
07 P&L Generated Realised & unrealised
08 Allocated to LPs By rules
09 NAV Calculated Fund & investor
10 Distributions Processed Cash returned
11 Carry Calculated GP earns
From discovery to live operations in 2–3 months
01
Weeks 1–2
Discovery & Process Mapping
We run workshops with your operations, compliance and technology teams to map how work gets done today, find what can be automated and design the setup around your fund structures.
02
Weeks 3–7
Configuration & Integration
Selene is configured for your fund economics, waterfalls, share classes and regulatory needs. Data migration and custodian and prime-broker connections happen alongside.
03
Weeks 8–12
Parallel Run & Validation
Selene runs next to your existing systems. NAVs, waterfalls and investor reports are reconciled between the two until you are ready to switch.
04
Ongoing
Live Operations & Evolution
Your support team stays in place after go-live. New fund launches, regulatory changes and new strategies are handled through configuration rather than new development.
Time to move off your legacy systems?
We’ll take one of your funds from subscription through NAV to carry in the demo.