Gen II Fund Services, a leading provider of fund administration services, has successfully completed its SOC 1 Type 2 audit for 2025, receiving a clean report from independent auditor BDO.
The 2025 audit evaluated the firm’s core technology infrastructure, providing comprehensive assurance across its entire operational technology stack. This report provides assurance that the organization has implemented controls to safeguard customer data and other sensitive information.
Steven Millner, CEO and Co-Founder of Gen II, stated, “This achievement reflects our ongoing commitment to operational excellence and adherence to the highest standards of security, quality, and compliance. Our world-class technology team is dedicated to building and maintaining systems that protect our clients’ most sensitive data and engender their trust.”
A SOC 1 Type 2 report is a comprehensive attestation report that describes a service provider’s internal controls over its customers’ financial information over a specific period. SOC 1 audits cover technical or procedural controls whose failure could impact customers’ financial statements, and Type 2 audits include an observation period of between 6 to 12 months.
BDO, an international accounting firm, conducted an independent audit to examine the design and operating effectiveness of Gen II’s systems and controls for the period dating from November 1, 2024, through October 31, 2025. The report certifies the suitability of the design and operating effectiveness of Gen II’s controls.
Randy Siegel, Chief Information Security Officer at Gen II Fund Services, commented, “Choosing a technology partner who doesn’t have world-class cybersecurity is a sure path to unacceptable risk. Gen II’s security approach is orchestrated by experts, validated continuously, and designed to evolve to address emerging threats.”
Beyond the SOC 1 Type 2, Gen II maintains a robust security architecture and compliance with other industry standards, including ISO 27001, CCPA, CSSF, NIST-SEC Cybersecurity, ILPA Templates, NY SHIELD, and GDPR.
Gen II is an independent tech-enabled fund administration provider for private capital asset managers and investors. Since its inception in 2009, the company has grown to oversee over $1 trillion of private fund capital, serving a spectrum of fund managers across multinational jurisdictions. The company assists General Partners in navigating complex international markets and regulations, managing operational infrastructure, financial reporting, and investor communications. Gen II leverages sophisticated proprietary technologies, including Sensr Solutions, a software suite designed to enhance fund management, analytics, and investor experience.
