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NES Financial sits down with our newest Vice President to discuss fund administration vs. EB-5 fund administration

NES Financial would like to introduce our newest Vice President of Business Development, Bonnie Novella. For more than two decades, Bonnie has been dealing with different types of alternative investments, from real estate development to private equity. While at Yardi Systems, she sold commercial, residential, and fund accounting systems and helped launch several new products. Bonnie also worked at J.P. Morgan Chase for several years, dealing with private equity real estate fund administration. Right before joining NES Financial, Bonnie was a part of the SunGard team that dealt with many large private equity, energy, and oil & gas firms.

NES Financial: Welcome to the team Bonnie! Tell me a little more about your background.

Bonnie: I come to NES Financial with over 25 years of experience working for real estate developers, software solution providers (for private equity funds of various strategies, including buyout, venture, real estate, and energy), and a well-respected global bank. Since I have had the good fortune of working for companies at all levels in the capital stack, it has been a great learning opportunity over the span of many years.

NES Financial: What made you want to join NES Financial?

Bonnie: I was struck by the high amount of expertise and integrity of every person I had met at the firm and very impressed by the dedication to a high caliber of client service. It was important to me to join an innovative firm with great people and an excellent client reputation, and I certainly found that at NES Financial.

The company is also known for developing unique technology to meet the needs of the markets they serve. NES Financial’s innovative eSTAC® platform allows them to continue to be innovative and adapt to whatever industry changes arise.

NES Financial: From a fund administration perspective, what did you like most about NES Financial’s services?

Bonnie: Funds investing in alternative assets, such as real estate and private equity portfolio companies, are benefactors of a strong capital flow. This brings a high level of fiduciary responsibility over investor capital, which can be demonstrated by fund managers through transparent reporting. NES Financial’s services facilitate this transparency, strong governance, and alignment of interests between fund sponsors and investors. When all participants get the reward they intended by risking their capital, it is truly a “win-win” – especially when they have been able to monitor progress throughout the multi-year commitment.

NES Financial: What is the main difference you see between a traditional fund administrator and a fund administrator who specializes in EB-5?

Bonnie: The types of funds and financial transactions that we are seeing continue to become increasingly specialized. However, traditional solutions providers are unable to adapt to the emerging trends at a pace that clients need. Traditional fund administrators have people with private equity or hedge fund expertise, but rarely with the specialization of EB-5. As a result, clients are forced to patch together existing solutions with tools like Excel spreadsheets or even paper files. The risks are too great for everyone involved to make a mistake or miss a regulatory filing. Since this program deals with individual foreign investor monies, there are many nuances that must be addressed by the administrator that NES Financial is uniquely equipped to handle. For example, the capabilities of their unique eSTAC® technology platform allow them to innovatively meet the needs of each market in ways that traditional solution providers cannot.

Secondly, most service models are designed to address hedge funds or private equity fund accounting dependent on some third party software solution. In contrast, the NES Financial fund administration model is powered by a platform purpose built by NES Financial, enabling our team to do more for our clients than most administrators can do. Our clients love that we are delivering both specialized technology and expert service.

I should be very direct here – any project with EB-5 capital should be administered by EB-5 experts, period. The people who provide the administration at NES Financial are experts in EB-5 and other highly specialized financial transactions.

NES Financial: How is everything going so far?

Bonnie: I am happy to say the NES Financial team has been so welcoming and really helped me hit the ground running. I am already working with some fast-moving projects, which are ready to receive investor capital. I am excited to be part of a company that is a game changer. NES Financial is doing extremely well and growing rapidly. Our innovative solutions continue to meet client needs and remain in high demand.

NES Financial: Thank you Bonnie, and once again welcome!

Bonnie: Thank you!

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What is EB-5? Find out more by downloading our EB-5 Solution kit.

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