Phoenix American, a transfer agent and fund administration provider, and the Alternative Investment Exchange (AIX) have formed an integration partnership that will enable investors to purchase alternative investment products digitally.
The partnership will allow investors to use the AIX platform resulting in a complete and active investment record in the Phoenix American transfer agent system, STAR-XMS, with no manual intervention.
The first client of the new partnership is ARCTrust Properties, sponsor of ARCTRUST, ARCTRUST III and Capitol Opportunity Zone Fund, programmes specialising in investments made through protected appreciation vehicles for real estate (PAVRs).
Phoenix American and AIX suggested that authentic data connectivity is where both firms see potential to grow the alternatives industry and create transformational change.
Andrew Constantin, senior vice president, operations for Phoenix American, said: “Phoenix American has long been a supporter of technological advancements that reduce costs for sponsors and improve investor and rep adoption of alternative investments.”
Constantin added: “Our mission is to identify ways to reduce operational frictions while remaining agnostic. Leveraging the AIX platform is an important step for Phoenix American as we continue to embrace advancements in technology that push the industry forward.”
Brad West, COO of AIX, said: “We’re working hard to improve the way business is done and grow the overall industry. Partnering with Phoenix American is a critical step toward that goal.”
“We wanted to confront the objections and address the friction points that have rate-limited growth in this industry. We have committed ourselves to building the plumbing that will connect and benefit the entire industry, creating meaningful change and positive outcomes for each stakeholder we serve.”
