Who is Caruso? A Guide for Investors

You have arrived on this page from your fund manager's investor portal. Your manager uses Caruso to run their fund operations. This guide explains who we are, what we do, and what that means for you as an investor.

Who is Caruso, and what do we do?

Caruso is a modern fund administrator built for private market managers. More than 900 funds across real estate, private credit, private equity, and venture capital use Caruso to handle the operational backbone of their funds, including investor onboarding, AML/KYC, capital calls and distributions, redemptions, registry, reporting, and day-to-day investor communications.

What fund managers use Caruso for

The work behind a private market fund is largely invisible to investors, but it is extensive. Every quarterly statement, every capital call notice, every distribution payment, and every annual tax document depends on operational tasks being completed accurately and on time. Caruso powers those tasks.

Specifically, fund managers use Caruso to:

• Onboard new investors: Digital subscription documents, automated identity verification and AML/KYC checks, and a single record of every commitment received.
• Maintain the registry: A single source of truth for who owns what, across every fund and every class, with each transaction recorded and auditable.
• Process capital calls and distributions: Calculate pro-rata amounts, issue notices, and reconcile payments without manual spreadsheet work.
• Report to investors: Statements, performance data, and tax documents delivered to a branded investor portal that investors can access at any time.
• Manage compliance: Watchlist screening, audit trails, and the documentation needed for regulators and auditors.

These workflows are the day-to-day reality of fund operations. Done well, they are invisible. Done poorly, they create delays, errors, and frustrating experiences for investors.

Why fund managers choose Caruso

Private market fund administration has historically been slow, manual, and opaque. Most legacy providers run on systems designed decades ago and rely on email, spreadsheets, and PDFs to move information between teams. The result is delays, errors, and a poor experience for the managers themselves, and investors at the end of the chain.

Caruso was built to change this. Managers choose Caruso for a few specific reasons:

• Modern technology: A platform built from the ground up for private markets, with AI agents embedded across the systems. New features ship every week.
• A better investor experience: Branded investor portals, transparent reporting, and a digital onboarding, application and redemption experience that meets the expectations of today's investors.
• A single source of truth: All investor data lives in one platform. Managers have a complete, real-time view of every relationship, which means clearer communication, fewer errors, and a smoother experience for investors at every touchpoint.
• One connected platform: The software and the people delivering fund administration services work in the same system. There are no gaps or handoffs between separate vendors.
• Flexibility: Caruso adapts to how the manager prefers to operate. In-house, co-sourced, or fully outsourced, all on the same platform.

What this means for you as an investor

When your fund manager uses Caruso, you benefit in several practical ways:

• A modern investor portal: Self-service access to your statements, distributions, transaction history, fund documents, and tax reports, available from any device at any time. No more emailing your fund manager for a copy of your latest statement or waiting for a quarterly PDF to arrive in your inbox.
• Faster, more accurate reporting: Because the data lives in one connected platform, your manager can produce quarterly statements and ad-hoc reports more quickly and with fewer errors. The numbers you see in your portal are the same numbers your fund manager is working with internally.
• Smoother capital calls and distributions: Notices arrive on time with clear calculations. Payments are processed and reconciled cleanly. The operational friction that often surrounds these events is reduced.
• Better service from your manager: Routine administrative work is automated, freeing your manager to focus on what matters: making good investment decisions and maintaining strong relationships with investors.

When the underlying infrastructure running a fund is faster, more accurate, and more transparent, the experience of being an investor in the fund is materially better.

How Caruso protects your data

Caruso is independently certified to ISO/IEC 27001, the international standard for information security management. Our security controls are reviewed and audited by external assessors on an ongoing basis.

We treat the data your fund manager holds about you with the standards expected of any institutional-grade financial platform. Information is encrypted at rest and in transit, access is tightly controlled and logged, and our environment is continuously monitored for threats.

Learn more about Caruso

To learn more about Caruso, our products, and our mission, visit getcaruso.com.