Carta has introduced a new addition to its product suite, the Carta Loan Operations, purpose-built for private credit companies currently navigating the complexity of loan admin workflows. Carta Loan Operations comes as a result of their acquisition of Sirvatus, a loan administration platform for private credit funds. During the past year, they’ve been working to expand their ERP for private capital to various other asset classes.
What they claim to have discovered is that while there are nuances for different asset classes, their same principle holds across asset classes—connecting underlying asset data (cap tables for VCs and PE firms) to their fund accounting (industry agnostic) and reporting (custom by client) to provide a detailed, real-time experience for CFOs.
When they began looking at different ways to serve private credit funds, they learned that in many ways, loan operations and admin “are to credit funds what portfolio company cap table and KPI data are to VC and PE firms.”
And by owning the loan operations and connecting that data to their fund accounting workflows, they are now able to provide a better experience for an asset class that is said to have been ignored by software providers.
Loan Operations marks their first product specifically “catered for the private credit industry.”
Like their acquisition of Accelex and launch of LP Portfolio Analytics are making LPs a first-order citizen for them, “the acquisition of Sirvatus is step one on a journey for servicing the private credit community.”
Carta said that these moves now bring them one step closer to their mission of building the “definitive system of record” for the private markets—one that connects every workflow on a single integrated platform and acts “as the indispensable infrastructure of a bold and dynamic private markets ecosystem.”