Covercy, a provider of end-to-end investment management solutions for commercial real estate, has formed a partnership with NAV Fund Services, a U.S.-based administrator with USD350bn AuA. The partnership combines Covercy’s integrated investment management and banking platform with NAV’s fund administration capabilities, providing clients with a full-service solution for fund accounting, reporting, and investor servicing. The firms will deliver administration, operational accuracy, and data transparency to GPs and LPs across private real estate and alternative investment markets.
This partnership marks a milestone in Covercy’s expansion of its institutional services, an initiative led by Pete Sanchez, president of Covercy, who joined the company earlier this year to accelerate its U.S. growth and drive innovation in fund administration and banking capabilities. Sanchez spent 12 years at Northern Trust in multiple senior roles on the alternatives side of the asset servicing business, latterly as EVP for institutional banking & treasury services.