Caruso Year in Review 2025 & Roadmap Preview

We have had a huge year here at Caruso, so before we turn the page on 2025 we wanted to reflect on what we delivered this year, and give you insight into our priorities early 2026.

What we delivered in 2025

This year, we shipped more than 400 new features and platform improvements, including 45 large strategic projects or new modules. Here are some of the highlights:

• Fund Intelligence — bringing AI into your day-to-day workflows.
• Email Marketing — communicate with investors at scale, with clarity and zero effort.
• Custom Investor Portals — tailor the investor experience to your brand, structure, and reporting needs.
• Onboarding Engine — improved onboarding workflow that moves investors from interest to approved capital faster.
• Statements — create clean, accurate investor statements in minutes, not days.
• Calastone — process adviser wrap platform orders seamlessly, with subscriptions, redemptions, and switches handled in one streamlined flow.
• Bulk Unit Issuance — issue units across your registry in seconds, not hours.
• Audit Log — full operational transparency with a real-time record of high-risk actions.
• Distribution Reinvestments — automate dividend reinvestment for you and your investors.
• Modular Distributions — flexible, accurate distribution workflows that adapt to every fund structure.
• Task Management — keep teams aligned, accountable, and moving faster across every workflow.

Every enhancement, large or small, has been designed to help fund managers grow assets under management, deliver a superior investor experience, and automate the operational work that slows teams down and inflates costs.

Our focus for early 2026

In 2026, we expect to double our engineering output compared with 2025, bringing a significant wave of new features and improvements. Rather than list everything on the roadmap, here are the priority areas we're focused on from January, shaped by feedback from fund managers on what will have the greatest impact on their operations.

Relationship management

We’re redesigning related-party structures to simplify compliance, strengthen data integrity, and make onboarding smoother for investors, advisers, and managers. KYC will move to the individual’s related-party record, allowing accounts to behave more like CRM contacts. This creates cleaner data, reduces duplication, and improves compliance accuracy across every workflow.

Adviser-centric workflows

We’re deepening support for advisers by improving how the platform manages adviser-linked applications, ongoing adviser–investor connections, dealer-group attribution, and adviser fee configurations. This also includes enhanced support for wrap platforms, leveraging our Calastone integration to streamline applications, reduce manual processing, and deliver a clearer, more scalable workflow for advisory networks.

Investor Console

We’re introducing a parent Caruso Investor Console view for advisers and investors who manage multiple investing entities across multiple fund managers. This parent view allows bulk management of applications and holdings, along with streamlined document and transaction exports and reporting.

Email customisation & visibility

Caruso supports both custom emails (via the Communications module) and default transactional emails that are sent as a result of an action (for example, unit issuance or granting an account access). Next year, you’ll be able to preview any email before sending and further customise the default transactional email templates to suit your own messaging.

Investor CRM & engagement

Enhanced CRM tools will introduce deeper activity tracking, detailed email engagement, seamless Outlook integration, and one-to-one email sending from within the platform. Together, these improvements help teams understand investor behaviour, run clearer communication workflows, and deliver a more responsive investor experience.

Data management & processing

An overhaul of tables across the platform will deliver faster search, multi-column sorting, improved filtering, better pagination, clearer breadcrumbs, sticky columns, right-click actions like copy ID, and significantly better performance on large datasets. Design to help teams work faster, make fewer mistakes, and understand data with more clarity.

AI as an extension of your team

Caruso Intelligence is expanding meaningfully in 2026. AI agents will process trust deeds, subscription documents, and other paper-based forms, completing operational tasks for your team at speed. Natural-language querying will let you ask questions in plain English and receive instant, data-backed answers. Behind the scenes, always-on data cleansing and compliance monitoring will keep records accurate and risks visible. For capital raising, AI will support prospect research and personalised outreach, helping you convert interest into committed capital more efficiently.

Additional Enhancements

• Bulk Processing - We’re expanding bulk tools for tags, redemptions, new issues, and deposit reconciliation to make high-volume operations faster and more accurate.
• Ongoing PEPs - We’re introducing ongoing PEP monitoring to keep investor records continuously up to date and strengthen compliance across every fund.
• International IDV - We’re expanding data checks for international investors to improve IDV and KYC accuracy and streamline onboarding across global markets.
• Secondary Market - We’re extending secondary market functionality to support a wider range of market types and give managers more flexibility in managing liquidity events.
• Permissions - We’re introducing more granular, fund-level permissions to give teams tighter control over access, governance, and operational oversight.
• Audit Logs - We’re delivering more granular audit logs to provide deeper visibility into every action taken, improving accountability and simplifying compliance reviews.

Looking Ahead

2025 demonstrated what's possible when software is purpose-built for private market fund managers. Every feature shipped this year was designed to address real operational challenges: reducing manual work, improving compliance accuracy, and delivering a better experience for investors.

In 2026, we're building on that foundation with deeper AI integration, enhanced adviser workflows, and the tools fund managers need to scale efficiently without scaling headcount.

If you'd like to discuss any of these upcoming features or share feedback on areas we should prioritise, please contact us at [email protected].