Carta, a software platform for private capital, has acquired Sirvatus, a loan administration platform, enhancing its offerings for private capital CFOs.
With this acquisition, Carta becomes the first fully integrated platform that merges fund administration, loan operations, and investor reporting into a single solution.
According to Carta, fund managers face increasing demands for tools that provide speed, accuracy, and transparency, as private credit investments surge.
Its newly rebranded product, Carta Loan Operations, will replace inefficient manual processes and allow the fund managers to focus on investment activities.
Carta CEO Henry Ward said: "With Sirvatus and Carta Loan Operations, we're expanding Carta's ERP for Private Capital to serve one of the industry's fastest-growing asset classes in private credit.
"In the same way that we've helped venture and private equity CFOs automate their fund operations by connecting portfolio company cap table events with our fund accounting suite, Loan Operations allows private credit managers to effectively manage underlying loan data and integrate it into their fund workflows."
The acquisition of Sirvatus will enable Carta to deliver enhanced features, including support for intricate loan structures.
It allows users to record specific deal terms directly from loan agreements.
The platform will also introduce automated loan tracking, providing real-time insights into loan positions, payment schedules, and compliance statuses.
In addition, integrated accounting and reconciliation capabilities will update fund accounting automatically with each loan transaction, reducing manual data entry.
The system will enable seamless investor reporting for institutional investors with timely performance data and generate customised reports via Carta's LP Portal.
Furthermore, the infrastructure is scalable and audit-ready, accommodating funds of various sizes with automated workflows to maintain accuracy during audits.
Sirvatus CEO Trevor Cook said: "Together with Carta, we unlock what private credit fund managers have long been missing: an interoperable solution connecting underlying asset data with their most critical fund workflows and reporting.
"Our shared vision is to give every private credit fund, regardless of size, access to purpose-built technology and real-time data to transform how they operate. We look forward to continuing to execute on this vision alongside the Carta team."
Last week, Carta announced the acquisition of Accelex, the software provider for capital allocators and institutional LPs.