Carta, a software platform designed for private capital, has announced the acquisition of Sirvatus, a leading loan administration platform for private credit funds. This acquisition aims to establish Carta as an integrated platform for private credit fund CFOs, combining fund administration, loan operations, and investor reporting into a single, end-to-end solution.
The acquisition addresses the increasing demand within the private credit market, where assets under management (AUM) reached over $1.7 trillion in 2024 and are projected to grow to $2.8 trillion by 2028, according to Preqin. This expansion necessitates advanced tools for private credit fund managers to meet rising market demands for speed, accuracy, and transparency. Carta’s end-to-end Loan Operations solution is designed to replace manual, error-prone tasks, allowing managers to dedicate more time to investing and less to administration.
Henry Ward, Chief Executive Officer of Carta, stated that the integration of Sirvatus and Carta Loan Operations extends Carta’s enterprise resource planning (ERP) capabilities for private capital into private credit, one of the industry’s fastest-growing asset classes. He noted that similar to how Carta has assisted venture and private equity CFOs in automating fund operations by connecting portfolio company cap table events with its fund accounting suite, Loan Operations will enable private credit managers to effectively manage underlying loan data and integrate it into their fund workflows.
The combined platform will offer native support for complex structures, including bespoke deal terms such as cash sweeps, PIK toggles, unitranche loans, and amendments. It will provide automated loan tracking through real-time dashboards that display current loan positions, payment schedules, interest rates, loan and portfolio-level returns modeling, and compliance status. Additionally, the solution includes integrated accounting and reconciliation, seamless investor reporting via Carta’s consolidated LP Portal, and scalable, audit-ready infrastructure built to support funds of all sizes.
Trevor Cook, Chief Executive Officer of Sirvatus, commented that together with Carta, they will unlock an interoperable solution for private credit fund managers, connecting underlying asset data with their most critical fund workflows and reporting. He added that their shared vision is to provide every private credit fund, regardless of size, with access to purpose-built technology and real-time data to transform their operations.
This acquisition follows a period of strategic growth for Carta, which recently announced the acquisition of Accelex to enhance its data extraction and analysis capabilities for private markets. Carta has also expanded its collaborations with major financial institutions, including an extended partnership with Morgan Stanley Wealth Management to increase access and transparency for private market investments, and a partnership with the New York Stock Exchange as its preferred listing partner. These advancements demonstrate Carta’s commitment to modernizing private markets and equipping fund managers and investors with tools for efficiency, transparency, and growth.
