Socium Fund Services launches loan agency and administration services

Socium Fund Services has launched its loan agency and administration services.

The new product offering will expand the services available to private credit funds, which now include loan lifecycle management, reporting technology, risk management and a support team.

According to a company statement, asset classes including term loans, delayed draw loans, convertibles, hard money loans and bank debt, among others, will be covered under the loan admin service.

Harvey Tian has been appointed to lead the new division. He previously worked at Alter Domus for five years, most recently as senior associate for its loan agency.

“Private credit has seen significant capital inflow and durable excess return over the past

decade,” commented Tian. “With the continuing consolidation of the middle-market banking landscape and global economic dynamics, the rise in private credit and associated demand for external loan agency and administration services finds Socium primed to respond,” he added.

In July this year, Socium partnered with Broadridge to make use of its loan portfolio management technology, Sentry.

Socium Fund Services was acquired by Suntera Global in May 2022, expanding into the US.