Just Released - Related Parties

For fund managers operating across complex ownership structures, managing related party information has long been one of the more frustrating administrative realities of the job. The same individual might appear as a trustee in one investing entity, a beneficial owner in another, and a director somewhere else entirely. Without a centralised approach, this means duplicated records, inconsistent KYC data, and a persistent risk that a change in one place is not reflected everywhere it should be.

Caruso's latest release addresses this directly. Related party records are now reusable across all investing entities, giving fund managers a single, authoritative view of each person or entity across their entire fund.

A Single Record, Connected Everywhere

Previously, building out a relationship tree for an investing entity required creating records from scratch each time a familiar name appeared. Now, administrators can search for and link an existing related party record directly when establishing a new connection, so the same individual or entity can be associated with multiple investing entities without any duplication of underlying data.

Importantly, each relationship retains its own context. Relationship type, notes, and KYC exemption status all remain specific to the connection being defined, not the record itself. This means a person can be marked as a beneficial owner in one entity and a director in another, with each relationship carrying exactly the information relevant to that context.

Where an individual holds multiple roles within the same investing entity, administrators can now assign more than one relationship type to a single related party record against that entity. A person who serves as both a trustee and a beneficial owner, for example, can have both relationships recorded simultaneously, removing the need for workarounds or duplicate entries.

Relationships can also be removed without deleting the underlying record, which preserves historical integrity while keeping individual entity profiles accurate and current.

A Better View Across All Related Parties

The related party master view has been significantly improved to make it easier to find, assess, and manage records at scale. Administrators can now filter the table by relationship type, identity verification status, or related party type, allowing compliance and operations teams to quickly surface exactly the records they need without scrolling through unrelated entries.

For funds with large or complex ownership structures, this added filtering capability meaningfully reduces the time spent on routine compliance checks and investor due diligence reviews.

KYC Data Where It Belongs

One of the most significant changes in this release is the way KYC data is stored and surfaced. Verification information now lives on individual related party records rather than on accounts, providing a consolidated view of each person's compliance status across the entire fund.

This shift has practical implications for compliance workflows. When a fund manager needs to confirm whether a particular individual has completed identity verification, they no longer need to check multiple accounts or cross-reference separate records. The information is in one place, kept up to date, and visible wherever that person appears.

For funds that already hold KYC data within their existing accounts, Caruso has migrated this information automatically. Each migrated account is now stored on a corresponding individual related party record, with a link back to the originating account maintained for reference.

Task Management Against Related Parties

Tasks can now be raised and managed directly against related party records. For compliance and operations teams, this means outstanding actions such as requesting updated identification documents or following up on exemption approvals can be tracked at the individual level, rather than being buried within an investing entity.

This addition makes it meaningfully easier to manage the lifecycle of a related party relationship, from initial onboarding through to ongoing compliance obligations.

API Changes

This release includes changes to the Caruso API. Teams that manage integrations with the platform should review the relevant help article for full details before making updates to connected systems.

Improvements & Fixes

• Send bulk communications to all investors in a fund — The communications module can now target custom, bulk emails to all investing entities in a specific fund or unit class.
• Separate fund bank accounts for distributions and redemptions — Funds can now configure separate outgoing bank accounts for distributions and redemptions per class.
• Curate statements per unit class — Greater flexibility to generate statements for an investing entity's portfolio, or for a particular fund or unit class.
• Deposit reconciliation for private credit — For ongoing deposits received without an allocation request, fund managers can now search for an investing entity and preview their holdings before creating an allocation request as part of reconciliation.
• Bulk governing document upload — Admins can now upload multiple governing documents at once when adding documents to an investing entity. When multiple files are selected, filenames are used as document names automatically.
• Fixed stale investor portal tasks — Resolved a bug where investor portal tasks requesting a document upload persisted even after being completed and approved.

If you would like to see how Caruso's Related Parties feature can simplify compliance and relationship management across your fund, please email [email protected] to arrange a product demonstration.