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Contact Stone Coast

Client and Investor Issues

If you are an investor in a fund administered by Stone Coast and would like to contact us regarding subscription, redemption or routine account matters, please call 207.699-2680 x 1 or email investorservices@stone-coast.com

If you are an investor with operational due diligence inquiries, please contact Rob Larson at 207.699.2680 x 233 or email duediligence@stone-coast.com

Fund managers who already are clients of Stone Coast should contact their service teams or may contact Sara Morris at 207.699.2680 x 235 or smorris@stone-coast.com

Partnering with Stone Coast

To discuss your Hedge Fund Administration needs with Stone Coast, please contact Rob Larson at 207.699.2680 x 233 or rlarson@stone-coast.com

If you are interested in exploring employment opportunities at Stone Coast, please visit our Career Center for current openings.

About Stone Coast

From a sole office on the Maine coast, some 188 Stone Coast staff serve $70 billion in fund assets. Stone Coast is unique. We don’t advertise or prospect for clients, but follow a motto that “Operations is Sales.” We perpetually top quality and value rankings, and grow only from referral by extraordinarily satisfied clients. The ingredients are simple: we offer – by far – the most senior and stable staff of any administrator, averaging 12.6 years of industry experience and annual retention of approximately 94%. Nothing is outsourced, and staff-client pairings typically last for years. We tightly regulate growth and workloads to ensure that clients get our best.

Stone Coast invests in technology and staff for the long term, without distraction or impediment. We have no debt to service, no passive owners and no share price to maintain. We’re neither the cross-sell product of a supermarket bank nor a pending transaction in a PE portfolio. Purely organic growth avoids the fault-lines and dysfunctions of acquisitions. Our senior management knows the business – and each client – to the core. Relationships average about $850 million, from very small to multiple billions. New business splits between launches and conversions from other administrators. We excel both with straightforward funds and with loan, credit and derivative-heavy portfolios.

Awards

Global Custodian’s Survey Results

Global Custodian, the leading magazine of the international securities service industry, has scored Stone Coast as the number one, two or three overall hedge fund administrator each year since 2009.

2017

Rated #2 Administrator – Overall 

  • Rated #1 for Fund Reporting &Valuation
  • Rated #2 for Value Delivered
  • Rated #2 for Compliance and Taxation
  • Rated #2 for Administration Services

“Stone Coast Fund Services provides excellent administration services. Their staff are knowledgeable and professional. The service level we receive is outstanding from each group and at every level of the organization.”

2016

Rated #1 Administrator – Overall 

  • Rated #1 for Value Delivered
  • Rated #1 for Investor Services
  • Rated #1 for Fund Reporting &Valuation
  • Rated #1 for Compliance & Taxation
  • Rated #1 for Administration Services
  • Rated #1 for Other Services
  • Rated #2 for Relationship Management
  • Rated #2 for Technology

“‘Stone Coast is by far the best fund administrator that I have worked with in my over 12+ years in this industry. The staff, systems, and work product are all five star’ . . .  ‘Stone Coast really does a great job. Customer service and responsiveness to our needs is tremendous. Our asset class is more complex than a traditional long/short equity fund, Stone Coast has deep experience with our assets and provides personalised service.’”

2015

Rated #2 Administrator – Overall

“Much of the positive overall perception…stems from a very concentrated focus on customer service and in particular low turnover of personnel and a proactive approach to relationship management…As one client put it, ‘Stone Coast is by far the best administrator I have ever worked with.'”

2014

Rated #1 Administrator – Overall*

  • Rated #1 for Value Delivered
  • Rated #1 for Relationship Management
  • Rated #1 for Investor Services
  • Rated #2 for Fund Reporting and Valuation
  • Rated #1 for Compliance & Taxation
  • Rated #1 for Administration Services

*Global Custodian calculated administrators’ “Overall” scores from 1996 through 2014, but has since published only eight “category” scores.  For continuity, post-2014 category scores are here averaged into an “Overall” score. Stone Coast’s 2014 scores were not published, but were provided by Global Custodian.

2013

Rated #2 Administrator – Overall

“In all 14 service areas, Stone Coast is at least double digits above the global weighted average. . . One client working with Stone Coast for the past few years says, ‘I would recommend them to any fund manager without hesitation. There’s very little turnover, and we deal with knowledgeable and dedicated senior level staff on a day-to-day basis.’”

2012

Rated #2 Administrator – Overall

“’They know us, know what we do and know what we want,’ reads one. ‘I consider them an A+ partner on our team. Our space is complicated, but they handle it great—extremely knowledgeable, and they listen.’”

2011

Rated #2 Administrator – Overall

“Asked what he likes, a client says: ‘Staff, staff and staff. From top to bottom they are dedicated, conscientious and committed to the highest levels of customer satisfaction. They always do what it takes to get us what we need when we need it—even when the request is a bit outrageous.’”

2010

Rated #3 Administrator – Overall

“’Stone Coast provides our fund with excellent customer service,’ says a client. ‘The team is consistently responsive and accurate in the information provided. I depend on them in a number of areas and am always confident.’ ’The best compliment is that I do not spend time worrying about them,’ concludes another.’”

2009

Rated #1 Administrator – Overall

“’Honest, smart and hardworking,’ writes one client. ‘Stone Coast has been a huge part in our fund’s results.’ ‘Very personalized service,’ writes another, ‘The staff is very knowledgeable and extremely responsive to needs.’”

 

Memberships

In June 2018, Stone Coast joined the North American Fund Administration Association (“NAFAA”). NAFAA is a member firm-based organization created “to define best practices and standards in the alternative fund administration industry, to address requirements of investors and operational due diligence services providers and to be a voice for the industry and its constituents.”

Stone Coast is also a member of the Regulatory Compliance Association, the Cayman Islands Fund Administration Association and the Cayman Islands Compliance Association.

History

Stone Coast was founded in 2006, though its senior team began together in 1999. Stone Coast’s founders previously built and led the highly regarded U.S. hedge fund administration business of a global custody bank, but left to pursue a more client-focused model that might avoid the dysfunction endemic to large banks.

Stone Coast’s founding insight was that while banks might dominate fund administration, they weren’t interested in the back-office operations business for its own sake, but merely as means to an end. The financial services “supermarket” model compelled the broadest possible footprint in hedge fund services so that higher-margin products – brokerage, financing, private and investment banking – might be cross-sold. Fund administration – sometimes run at a loss – was a necessary evil. That model dictated certain compromises that still characterize the industry: scale matters more than quality; pace of growth outweighs quality of service; simple funds are prioritized over complex funds; operations costs are more easily controlled (via high-turnover models and off-shoring) than is corporate overhead.

That prevailing model left (and continues to leave) a niche for truly service-focused firms, able to attract and retain senior talent and willing to pursue prudent growth. Stone Coast’s uniquely available resource was a deep and stable talent pool in a lifestyle-friendly, low-turnover location. Building initially with the talent of former colleagues, Stone Coast has continued to focus on hiring industry experience, typically from the Boston-to-New York corridor.

Stone Coast launched a Bermuda subsidiary – Stone Coast Fund Services Ltd. – in 2007, and was licensed by the Bermuda Monetary Authority in 2008. As most of its offshore fund clients and service partners were domiciled in the Cayman Islands, Stone Coast re-domiciled its subsidiary there in 2015, obtaining licensure from the Cayman Islands Monetary Authority in the process.

Since 2009, Stone Coast controls have been subject to examination by independent auditors, resulting in SOC 1 Type 2 reports each year.

PEOPLE

Senior Leadership

Marc Keffer

A founder and Principal of Stone Coast, Marc practiced law in Washington, DC for seven years before joining Forum Financial Group, where he served as corporate counsel and launched European fund administration companies. In 2000, Marc founded Forum’s US hedge fund administration business, which he ran for six years as Forum and as Citigroup, following the latter’s acquisition of the business in 2003. Marc also has served as a director and officer for numerous onshore and offshore companies. In addition to business management, Marc supports client relationships with a thorough knowledge of funds’ structural, tax and regulatory issues. Marc earned his Bachelor’s degree with Distinction from Yale before getting his law degree from Vanderbilt.

Sara Morris

Sara is Managing Director at Stone Coast and is responsible for oversight of Compliance, Risk and Control, Corporate Administration and Client Management. She joined Stone Coast in 2008, having spent the prior five years at Citigroup where she served as Director of Client Management and Director of Fund Administration for US clients, exercising overall management of large portions of service delivery. Over ten prior years, Sara held CFO and CAO positions with Forum Financial Group (later acquired by Citigroup), and also with The VIA Group, a national strategic marketing firm. Before that, she was Controller and Director of Financial Reporting for Wright Express, LLC, an international credit card transaction processing company. Sara began her career in 1986 in Boston with the audit practice of Deloitte & Touche. She earned a Bachelor’s degree in business administration (accounting concentration) with highest honors and highest distinction from the University of Maine. Sara is a CPA. 

Jason Glidden

Jason is a Director at Stone Coast and oversees Central Services, including Cash Services, Financial, Tax and Regulatory Reporting, and Data and Reporting Services. Prior to joining Stone Coast, Jason served as the co-head of Operations for Citigroup’s US Alternative Investment Fund Services team. Jason was a co-founder of Forum Financial Group’s U.S. Hedge Fund Administration business, where he had extensive responsibility for business process design and implementation. Jason is expert in hedge fund portfolios of all types, and in all aspects of partnership administration. Jason is a graduate of the University of Maine.

Edward Goddin

Ed joined Stone Coast in 2016 as a Director and the firm’s Chief Information Officer. He brings extensive IT leadership experience having supported complex global businesses with mission-critical business applications and multi-site solutions.  Ed has been responsible for corporate IT strategies, high volume systems, application development, data distribution, cyber security and application architecture, design and support throughout his career. Most recently, Ed served as Technical Management Consultant for Allsource PPS/MetLife, where he provided strategic technological planning in support of the Global Data Center program, a multi-year program consolidating 55 data centers globally into 10 regional data centers. Prior to that, he was the Senior Technology Manager at Bridgewater Associates, the world’s largest hedge fund. Ed has also held senior roles at Sharepoint, Intuit, Accenture and various financial services companies. Ed earned a BA with a concentration in Business Administration from Grove City College and later a Master’s Degree in Business Administration from New Hampshire College.

Liam McMakin

Liam is a Director and Head of Operations, overseeing all Operations teams, including Fund Accounting, Investor Services, Central Services, Product Development, and Project Management at Stone Coast. He brought 23 years of prior industry experience to Stone Coast, across a range of senior roles. As a Director with Citigroup, Liam ran Citi’s Cayman office before moving on to serve as Citi’s Head of Alternative Investment Investor Services for all of North America, where he managed large teams in business sites spread over five countries. Liam also served as Head of Change Management for Alternative Investments and Private Equity for Citi, where he led project management teams responsible for major transformational changes to Citi’s operations and infrastructure. Liam received a BA in Business Administration from New England College.

Kenyon Shubert

Kenyon is a Director and Stone Coast’s Corporate Counsel. As Head of Compliance, she oversees the Legal and Compliance group, which is responsible for oversight of Stone Coast’s Anti-Money Laundering, International Tax Compliance and Information Security Programs. Kenyon brings both general litigation and business restructuring and insolvency experience from private legal practice at one of Maine’s largest law firms. She has served as professor of American Law at Universidad de los Andes in Santiago, and as professor of Cultural Studies at Universidad Catolica in Valparaiso. She has also worked extensively as a translator on academic and journalism projects in Chile. Kenyon earned her J.D. from the University of Maine School of Law magna cum laude, and her BA in Anthropology from Cornell University cum laude.

Managers and Senior Staff

John Anderson

John is a Unit Manager within Fund Accounting. John previously served as the co-head of Operations for Citigroup’s U.S. Alternative Investment Fund Services team. John has been in the industry since 2000 and has considerable prior experience managing large teams, both as the general manager of two businesses, and as a Sergeant with the 82nd Airborne. John was an early member of Forum Financial Group’s Hedge Fund Administration business, and was central in designing and developing its automation and controls. John is a graduate of the University of Southern Maine.

Laurie Arria

Laurie is an Operations Analyst at Stone Coast. Prior to joining Stone Coast in 2007, she served as a financial reporting specialist at Citigroup, and as an accountant in the alternative investment group. Laurie previously worked as a Portfolio Administrator for State Street Corporation. Laurie holds a Bachelor of Science Degree with a concentration in finance from Westfield State University. She earned her CAIA designation in 2012.

Shawn Boucher

Shawn is the Group Manager of Automation Support/Operations Analysis within Operations. He has been with Stone Coast since 2012, first as a Hedge Fund Accountant and later as an Account Manager. Prior to joining Stone Coast, Shawn worked as a territory sales manager for Pepsi-Co, where he provided leadership and direction to seven sales representatives. Shawn earned a BA in Business Management from the University of Maine at Presque Isle in 2007 and later received an MBA in Business Administration from the University of Southern Maine in 2013. 

Ryan Bradford

Ryan is a Group Manager within Fund Accounting. He joined Stone Coast in 2016 after working as an Alternative Investments Fund Controller at Wellington Management Company and before that, within the Assurance group at PwC. Ryan earned his CPA in 2011 and continues to maintain his certification. He attended the University of Vermont, where he received a B.S. in Business Administration as well as Master of Accountancy degree.

Matt Bushnell

Matt is the Group Manager of Implementations within Fund Accounting. He joined Stone Coast as a Hedge Fund Accountant in 2013, and later was promoted to Account Manager in 2014. Matt concentrated in Finance and Economics while obtaining his Bachelors of Science in Business Administration from the University of Southern Maine.

Paul Daniels

Paul is Stone Coast’s Operations Manager. He brings considerable experience to Stone Coast, having spent nine years as a financial analyst in reinsurance and in benefits consulting before moving to hedge fund administration in 2004. Paul was a senior co-head of Citigroup’s U.S. hedge fund administration operations team, responsible for the administration needs of 85 hedge funds. Paul has a BS in Finance from the University of Southern Maine, and an MBA from the University of Maine.

Jeffrey Fasulo

Jeff is a Group Manager in Investor Services. Prior to Stone Coast, Jeff was an Assistant Vice President at Brown Brothers Harriman in Boston for ten years where he led a Transfer Agency team primarily focused on Alternative Investments. Jeff has successful experience managing sophisticated client relationships across multiple alternative fund structures in addition to traditional funds. He also operated in a business analysis role while working in Dublin on assignment for BBH. Jeff brings strong operational, client service, employee management, and industry expertise to Stone Coast’s Investor Services department. Jeff holds a Bachelor of Science Degree in Mathematics from Union College.

Elizabeth Formas

Elizabeth is a Group Manager in Investor Services. She began her career in Fund Administration in 2003. Prior to Stone Coast, Elizabeth was a Senior Manager at SS&C Technologies in Windsor, CT, where she was responsible for an Investor Services team that managed a large number of clients, was responsible for regulatory initiatives, and involved with client relationship management. Elizabeth started her Hedge Fund Administration career in Boston at BISYS as a Senior Associate. She then took the opportunity to broaden her knowledge and work in Bermuda for JPMorgan where she moved from an Account Manager to an Assistant Vice President. Elizabeth attended the University of Vermont.

Neal Gammon

Neal is a Group Manager within Fund Accounting. He joined Stone Coast in 2008 with 13 years of experience in fund accounting and financial analysis and control functions, which give him considerable depth and breadth of experience and insight. Prior to joining Stone Coast, Neal served in a senior capacity as a fund accounting Manager with another global administrator, responsible for leading a team of 15 fund accountants as well as for critical corporate-wide functions. Neal concentrated in Finance in obtaining his Business Administration degree from Bryant College.

Nina Garrison

Nina is Stone Coast’s Client Manager. She joined Stone Coast in 2014 after spending a decade with a specialty venture capital firm as its Vice President. She was responsible for portfolio company relationships as well as the individualized management and servicing of portfolio company investor relationships while overseeing compliance matters for the firm. Nina also served as a relationship manager with Forum Financial Group, ensuring quality service delivery to mutual fund clients across multiple service delivery segments. Nina holds a BS in Human Development with a concentration in Business from Boston College.

David Gilligan

Dave is the Group Manager of the Application Support team where he is primarily responsible for the development and support of the workflow automation platform. He joined Stone Coast in 2012 as a Business Analyst after having spent the previous eight years working in Custody/Fund Accounting and Business Analysis at Investors Bank & Trust and Brown Brothers Harriman, respectively. Dave holds a B.S. in Business Administration from the University of Vermont as well as a Master’s in Business Administration from Boston College.

Patricia Goddin

Patricia is the Group Manager of the Project Management team. Prior to joining Stone Coast, Patricia was a Senior Project Manager at Bridgewater Associates in Westport, CT, where she was responsible for large-scale infrastructure and technology transformation programs. Before working with Bridgewater, she was a Vice President at Wellington Management Company in Boston and responsible for the firm’s remote computing programs, including IT support for their Sydney, Tokyo, Hong Kong, London, Singapore, San Francisco, and Radnor PA locations. Patricia holds a Bachelor of Science degree in Applied Mathematics / Computer Science from Plymouth State University and a Master’s Degree in Computer Science from Rivier College. Patricia has also earned her PMP and CSM certifications.

Aileen Gregory

Aileen is a Group Manager within Fund Accounting. She joined Stone Coast in 2014 as a Hedge Fund Accountant, was later promoted to Account Manager and, in 2018, was promoted to Group Manager. Aileen attended Pace University, where she pursued a dual major in Mathematics and Economics and a minor in Statistics, and received her BA.

Amanda Hatfield

Amanda is the Investor Risk and Regulatory Manager within Investor Services. She joined Stone Coast in February 2017 after working in Bridgewater Associates, LP’s Client Service department since 2012. Prior to Bridgewater, Amanda worked in Investor Relations for a New York based Merger Arbitrage fund. Amanda brings to Stone Coast relevant industry experience across implementation of regulatory-driven best practices, investor due diligence and onboarding, and complex account transitions. She graduated from Trinity College, Hartford, CT with a Bachelor of Arts in Political Science.

Eric Johnson

Eric is a Group Manager in Investor Services, joining Stone Coast in 2014.  He began his career in 2007 at State Street Corporation where he worked for five years as a Client Services Associate. Eric was responsible for an average of $175 million in transfers daily for several high net-worth mutual fund clients. Before joining the team at Stone Coast, he spent two years as an Implementation Consultant at Tyler Technologies providing onsite consultation with core governmental financial officers to implement a new ERP system. Eric earned his BA in Economics from Wake Forest University. 

William Jorgensen

Bill is a Group Manager within Fund Accounting. He began his career in 1997 at Forum Financial Group and served as a Fund Accounting Manager before moving to an Account Manager position at Investor’s Bank and Trust. Bill joined Wellington Management for three years as a Client Administration Specialist before returning to Citigroup (Forum) as a Vice President and Section Manager, responsible for every aspect of a major subsection of Citi’s hedge administration business. Bill has a BS in Business Administration and Finance from New Hampshire College.

Warren Kenniston

Warren is a Group Manager within Fund Accounting. Prior to Stone Coast, Warren was an Assistant Vice President at Brown Brothers Harriman, overseeing financial statement preparation for registered investment companies. He previously held positions at both State Street and Investors Bank and Trust. His considerable depth of fund accounting, financial reporting, and regulatory knowledge, bolsters Stone Coast’s expertise regarding clients’ non-operational needs. Warren has a BS in Business Administration from Babson College and a Master’s in Finance and Economics from Boston University. He also has earned Graduate Certificates in Management, Accounting and Financial Markets & Institutions.

Josh King

Josh is a Group Manager in Fund Accounting. He joined Stone Coast in 2014 as a Hedge Fund Accountant with an extensive background in financial operations and client services and was later promoted. Before Stone Coast, Josh worked with Brown Brothers Harriman for seven years in their Corporate Actions department in Boston. He began his career as a high school mathematics teacher at Avon Old Farms in Connecticut, where he taught for four years. Josh has a bachelor’s degree in Economics from Duke University and an MBA from Boston University.

Sammantha Kramer

Sam is the Senior Manager of Corporate Administration at Stone Coast. She joined Stone Coast in 2013 with over nine years of experience in human resources. Prior to joining Stone Coast, Sam was Operations Manager in Human Resources at Boston University where she managed and executed Human Resources process changes in relation to the integration of a new HRIS system. In addition, Sam managed the HR budget, headed project teams on a major website update, and was responsible for maintaining content in the website and in written documents. Sam has a BS in Education from Springfield College and a Master of Education from Boston University.

Jen Laneau

Jen is a Group Manager within Fund Accounting. She has nearly fifteen years of accounting experience. Prior to joining Stone Coast, Jen was the Accounting Manager for an asset management firm in the renewable energy industry. She also worked in both mutual fund accounting and hedge fund accounting at State Street Bank and Citigroup, respectively. Jen has a BA in English from Bridgewater State University.

Jeff Larochelle

Jeff plays a lead role in tax analysis and in the preparation of partnership returns for Stone Coast clients. Prior to joining Stone Coast, Jeff was an officer and Senior Tax Specialist for a major fund administrator. After spending his first few years in the industry as a fund accountant and fund accounting manager, Jeff took on responsibility for delivering basic and advanced training for new and existing accountants. Jeff also has worked as a business analyst, focused on development and technology initiatives for fund accounting users. Jeff earned a business administration degree with an accounting major from the University of Maine.

Rob Larson

Rob is the Manager of Business Development. He has worked in the alternatives arena since 2001, specializing in bank loans, trade claims, derivative products, trading and middle office operations. Rob has worked in New York with the law firm Weil, Gotshal & Manges LLP, which he left for Deutsche Bank Securities. Rob further developed his derivatives middle office experience with two Boston hedge funds, Boldwater Capital and Sowood Capital, before joining Stone Coast. Rob is a graduate of Haverford College.

Karen Leavitt

Karen is the Group Manager of IT Operations, overseeing the help desk and application support, ID administration, ITIL processes and documentation. She brings 16 years of strategic outsourcing IT management experience working at IBM for financial services companies, specifically State Street, Citigroup, Bank of America, Santander and Fidelity. Prior to working for IBM, she was an IT Technical Manager for Unum. Karen received her undergraduate degree in Business Administration with a major in Computer Information Systems at Bryant College and an MBA degree from Husson College.

Rebecka Ledue

Rebecka is a Group Manager within Fund Accounting. She joined Stone Coast as a Hedge Fund Accountant in 2012 and later was promoted to Account Manager. Rebecka earned a BS in Accounting from the University of Southern Maine in 2012.

Kerin Mackechnie

Kerin is a Unit Manager within Fund Accounting. Preceding her commencement at Stone Coast in 2008, she held various fund accounting group management positions at both BISYS Hedge Fund Services and Citigroup. Throughout her time in these positions, she oversaw many client relationships, giving her the opportunity to gain extensive experience in a variety of fund structures and strategies for both Onshore and Offshore clients. Kerin attended Providence College and received a BA in Economics.

Michel Manuel

Michel is a Group Manager within Fund Accounting. With Stone Coast since 2011, Michel brings over ten years of hedge fund accounting experience garnered from work at several major hedge fund administrators. His broad range of hedge fund and accounting knowledge makes him a natural fit for Stone Coast. Michel earned a BS with a Finance major/Economics minor from the University of Delaware, and an MBA from Goldey-Beacom College. He has completed the FINRA Series 7 and 63 licensing examinations and is fluent in French.

Dan McDermott

Dan is a Group Manager within Investor Services. He joined Stone Coast in 2015 as an Investor Services Representative and was promoted to Group Manager in 2018. He began his career as a Financial Analyst at The Boeing Company, building his knowledge of financial operations. Dan has a bachelor’s degree in Aviation Business Administration from Embry Riddle Aeronautical University.

Marie McGeever

Marie is a Senior Risk Specialist within the Risk and Control group and has over 17 years of experience in anti-money laundering compliance, investor services operations, and risk management. Joining Stone Coast in 2015, Marie brought 14 years of prior experience with Citi Hedge Fund Services (Cayman) Ltd. and Citi Hedge Fund Services North America Inc., including six years in the Cayman Islands managing the investor services team and 12 years serving as the Money Laundering Reporting Officer for Citi Hedge Fund Services (Cayman) Ltd. Before leaving Citi for Stone Coast, she was the Senior Vice President of Risk and Control for Citi’s North American Hedge Fund Operations. Marie earned a BA in Law and Accounting from the University of Limerick in 1997 and qualified as a Chartered Accountant in 2000 with the Institute of Chartered Accountants in Ireland.

Guillaume Meillat

Guillaume is the Group Manager of IT Infrastructure and Security. He joined Stone Coast in 2016 as a Senior System Engineer to support the growth of Stone Coast and increased reliance on technology. Guillaume brings considerable experience to this role having supported multiple IT Integrations as part of acquisitions with Honeywell Safety Products and Electrocraft. In addition, he held the position of Network and System Manager for Honeywell where he led a global team to support critical infrastructure and advance the security capabilities.

Josh Myshrall

Josh is a Unit Manager, co-managing Fund Accounting. Josh has been a part of the Stone Coast team since early 2007 and brings nine years of fund experience at Putnam Investments, State Street and Citigroup. In addition to expertise in portfolio and partnership accounting, Josh brings experience in information audit and performance analysis. At Citigroup, Josh was one of two senior operations co-heads of the U.S. hedge fund administration business and was responsible for the administration needs of 85 hedge funds. Josh has a BS in Finance from the University of Maine.

Bogdan Olaru

Bogdan is the Group Manager of the Software Development team. With the company since 2013, Bogdan brings more than fifteen years of experience in the design and implementation of large-scale software systems for the financial and health care industries. He designed and developed various Automated Security Master and Trade Automation solutions and plays an active role in the implementation of other key systems. Bogdan has a Master’s degree in Applied Computer Systems and Artificial Intelligence from Polytechnic University of Bucharest, Romania, and holds a number of professional certifications.

Sarah Olney

Sarah is the Group Manager of the Operations Data and Reporting Services team. She has been with Stone Coast since 2015, first as a Data Administrator in Investor Services before her promotion to Manager. Prior to Stone Coast, Sarah worked in banking, primarily focused in retail mortgage lending and loss mitigation. Sarah earned her bachelor’s degree in Economics from the University of Southern Maine

Andra Patch

Andra is a Group Manager within Fund Accounting. She has worked in the financial industry since 1999. Prior to joining Stone Coast in 2012, she started her career at Forum Financial Group and served as a Senior Fund Accountant before moving to a Financial Reporting role. Andra joined Iberdrola for one year as a Accounting and Analysis Analyst and also worked at Unum as a Budget Analyst/HR Financial Management Information Analyst. Andra has a B.S. in Resource Economics and Policy from the University of Maine.

Joe Ponte

Joe is Stone Coast’s Product Manager. Joe joined Stone Coast in 2012 with over ten years of financial services experience, initially with a major hedge fund administrator where he managed a team of eight working on multicurrency funds. Joe later worked at a large hedge fund performing middle and back office operations for portfolios of equities, debt and complex derivatives. Most recently, Joe worked in accounting for another large hedge fund doing internal audit, partner allocations and financial statement preparation on complex fund structures.

Eleni Richardson

Eleni is Stone Coast’s Group Manager in Compliance and is also a Compliance Attorney. She has over ten years of experience working in the financial services industry with a strong background in investment manager compliance with the federal securities laws. Prior to joining Stone Coast, she served as a compliance consultant to hedge fund managers and other investment advisers by creating and maintaining compliance programs tailored to each client’s compliance culture and business operations. Eleni earned her Bachelor’s degree in American Studies from Connecticut College before getting her law degree at Suffolk University.

Mike Roche

Mike is a Group Manager within Fund Accounting. He joined Stone Coast in 2013 as a Hedge Fund Accountant, bringing with him 14 years of accounting and finance experience. Mike began his career in the financial industry in 1999 at Putnam Investments, where he was hired as a Fund Accountant and was later promoted to Accounting Supervisor. He earned a BA in Economics from Middlebury College and an MBA in International Business & Accounting from Sacred Heart University.

Jonathan Rosen

Jonathan is the Senior Manager of the Risk and Control group. With Stone Coast since 2012, Jonathan brought over 16 years of prior fund accounting and financial administration experience with Forum Financial Group and Citi Fund Services, where he rose to the level of Senior Vice President. At Citi, Jonathan was responsible for the Financial Reporting department, servicing a wide array of registered and unregistered fund structures and investment strategies, while managing a team of 44 staff in different countries. Jonathan has a BS in Business Administration with a concentration in Accounting from the University of Maine.

Fred Skillin

Fred serves as Stone Coast’s Controller. With Stone Coast since 2007, Fred brought over 20 of professional experience in the financial industry. He began his career at the Bank of Boston, where he managed a team of 27 people, followed by 3 years as a CPA at Coopers and Lybrand. Fred has spent 20 years in fund administration, as a Senior Finance Manager for Forum Financial Group, and as Senior Vice President of Financial Control for Citigroup. Fred has a BS in Economics from the University of Southern Maine and an A.S. in Business Management from the University of Maine.

Mike Stewart

Mike is the Group Manager of Financial and Regulatory Reporting. He has helped implement and lead the financial reporting function at Stone Coast as a Financial Reporting Manager since 2009. Mike brings significant financial reporting expertise to Stone Coast, which he acquired from State Street, where he rose to the level of Assistant Director. While at State Street, Mike oversaw and worked on reporting for a wide array of fund structures and investment strategies, at the same time managing a team of 14. Mike has a BBA in Finance from the University of Massachusetts Amherst and an MBA from Suffolk University.

Brian Tiedge

Brian is a Group Manager within Fund Accounting. Prior to joining Stone Coast in November 2015, Brian spent 11 years with Bisys Hedge Fund Services/Citigroup and 3 years with JP Morgan, where he was exposed to a variety of mutual funds and hedge funds investing in a portfolio comprised of a diverse set of investment vehicles. Brian attended Hartwick College and received a bachelor’s degree in Business Management.

Laura Tyson

Laura is the Unit Manager within the Investor Services and Investor Regulatory Reporting groups. Laura joined Stone Coast in 2013 following five years at the Bank of New York Mellon. During her time at BNY Mellon, she was a Fund Accountant primarily responsible for portfolio accounting of non-profits and endowments.  Laura soon moved into a supervisor role at BNY Mellon for the Private Investments department responsible for the accounting, performance and custodial functions of investor’s alternative investments. Laura is a graduate of Stonehill College and further earned her Master’s degree in Banking and Financial Management at Boston University. 

Justin Wood

Justin joined Stone Coast in 2016 and is the Group Manager of Business Analysis. Prior to joining Stone Coast, he was Vice President at State Street Global Markets focused on electronic trading, client facing algorithms, and automated risk management. He has worked in the FX Trading industry for seven years and has extensive knowledge of eFX, market making, liquidity aggregation, and risk management. Previous to State Street, Justin worked at Boston Technologies, a quantitative hedge fund, where he managed over $10B in monthly trade flow. Justin holds degrees in Biochemistry and Economics from Saint Michael’s College.

Technology

A mix of outstanding vendor and proprietary technology drives Stone Coast’s reporting, information security and service efficiency.

Stone Coast’s core systems leverage cloud computing platforms. This permits enterprise-grade reliability, scalability, availability, security and business continuity. For key applications that are not cloud-capable, primary and secondary hot site data centers with redundant power, environmental controls and state-of-the-art physical security are located on separate power grids and geologic zones, outside of major earthquake and disaster risk areas.

Primary vendor systems include [details available on inquiry] the industry’s leading portfolio and investor accounting platform, a major third-party reconciliation suite and a leading digital business platform for workflow automation and control. Other vendors provide a wide range of security and support products and services.

The technology environment is supplemented and brought to life by a highly active team of Architect/Developers, Product/Business Analysts, an IT Infrastructure group, an IT Operations group, Data Quality and Documentation specialists, and an Application Support group. This team has built a suite of tools, including a central hub that integrates and automates data flow across all systems and users, and they develop, test and release approximately 500 products, enhancements and fixes annually.

Information security and cybersecurity follow a layered, defense-in-depth approach, integrating a wide range of hardware and software tools, service partners, vulnerability remediation, and, ultimately, constant training and testing at the staff level. Security assessment includes regular third-party penetration testing, with professional hackers seeking to exploit any discoverable vulnerability to gain access to Stone Coast’s network and data.

Stone Coast has reliable business continuity and disaster recovery practices to ensure that it can continue to provide high-quality service, meet contractual obligations and resume critical business functions in the event of disruption. These efforts benefit from sustained focus on systems, site security and data mirroring, but also are trained, tested and drilled comprehensively at the staff level to ensure a continuous processing environment.

Careers At Stone Coast

Stone Coast Fund Services is an award-winning, steadily growing hedge fund administrator that’s found a better way in a better place. With a sole office in Portland, Maine, Stone Coast comprises 188 hard-working and smart professionals who deliver administration services to 83 hedge fund managers around the country, with investors around the world. Our growth has been fueled entirely by the quality of the services we deliver and by the trust, affection and respect of the clients we serve. We distinguish ourselves from our competitors because our people distinguish themselves every day. We hire carefully, treat people well, and are rewarded by exceedingly low turnover in an industry where high turnover is the norm. Our mission statement is to “take pleasure in work done well, and in working well with others,” and we’re truly committed to that goal.

Why Stone Coast

Our Mission

Our mission, to “take pleasure in work done well, and in working well with others,” is an obligation to our clients, to their investors, to our communities and ultimately to our peers and ourselves. Fund administration, done well, requires carefully selecting smart, dedicated professionals and providing them with the resources, training and workplace culture that will engender their loyalty and bring out their best. To that end, we strive to develop and nurture relationships that are characterized by trust, respect and affection. We look for colleagues – and clients – who will share and reciprocate these values.

Our Business

Our company, and the industry in which we operate, is dynamic and growing. Since our founding in 2006, we have grown steadily, and now administer approximately 272 onshore and offshore hedge funds with $70 billion in assets arrayed across a full range of investment strategies, from long/short equity to complex, asset-backed and derivative portfolios. We provide our fund clients with accounting, investor services, cash services, financial and regulatory reporting, and compliance support. Our success has been fueled solely by the quality of the services we deliver – quality that’s led to wide recognition as an industry standout. Global Custodian, the leading magazine of the international securities service industry, has scored Stone Coast as the number one, two or three overall hedge fund administrator each year since 2009.

Our Location

Our location is central to our mission. Stone Coast is in the heart of Portland’s Old Port waterfront, a picture-perfect tourist destination that we’re fortunate to call home. Our offices offer beautiful views of Portland Harbor and the islands of Casco Bay. From our front door, we can walk to award-winning restaurants, cafes, museums and shops. Living in Portland and surrounding areas offers excellent schools, minimal commutes and proximity to beaches, mountains and state parks. 

In loving Portland, we are in good company. A select sample of recent accolades for Portland includes:

  • Happiest Cities in the United States  – National Geographic
  • Best Places to Live in the US – U.S. News & World Report
  • America’s Coolest Small Towns (No. 5) – Jetsetter
  • America’s Foodiest Small Town – Bon Appétit
  • Best ‘Adventure Town’ in the East – Outside Magazine
  • World’s Best City for Craft Beer – Matador Network

Our Culture and Benefits

Maine offers the unbeatable combination of a higher quality of life and lower cost of living than the nearby cities from which many lifestyle refugees might flee. Stone Coast, like Portland, enjoys an informal culture. We place a high value on community service, provide and encourage use of community service days, and regularly organize and participate in charitable events. We offer comprehensive health, disability and life insurance, pre-tax health savings and flexible spending accounts, a 401(k) with a generous employee match and generous parental leave.

Work at Stone Coast

Our Team

The quality of our services derives solely from the quality of our people. Therefore, we seek smart, hard-working, ethical and friendly professionals – from recent college graduates to fund administration veterans to compliance and technology experts. We seek people who choose us and who choose Maine – people whose choice to work with us is as deliberative as our selection process.

Job Opportunities

If you are interested in exploring employment opportunities at Stone Coast, please visit our Career Center.

If you don’t see an opening for which you are qualified, but do have relevant industry experience, please feel encouraged to apply to our General Application at the Career Center. Our growth compels us to continuously search for talent, and we may be contemplating a position that fits your experience.

Cover Letters

We consider the cover letter an important first step in getting to know you, so please include one with your resume or application. Tell us why you are interested in our organization and your reasons for wanting to move to Maine, if you are not here already.

Stone Coast’s Services

Stone Coast services are designed to fully satisfy client needs while meeting best practices expectations of regulators, counter-parties and risk-conscious investors. We pair industry-leading technology with strict controls and quality monitoring, but our clients’ satisfaction is driven most fundamentally by staffing excellence. Stone Coast offers an unparalleled combination of staff experience and low turnover, and we pair those traits with tightly regulated growth and low fund-to-staff ratios. Clients are assigned to small service teams with which they can expect to work for years.

Accountability for client satisfaction is shared at all levels. We conduct monthly Principal-level reviews of each client’s satisfaction, issues and risks, and our most senior management remains proactively involved with — and available to — all clients. Oversight also includes strong controls and work review, robust incident monitoring and internal audit functions, and external SSAE 18 audits of controls.

Accounting Services

Clients are assigned to a small group of four-to-eight accountants and typically can expect to work with that team for years. Within a group each fund is assigned to a primary accountant backed by a review accountant, with all reporting undergoing rigorous checks by both. A fund’s primary accountant (or, in many-fund relationships, the Group Manager) serves as the lead contact for the relationship. Accountants have a broad range of responsibility for only a small number of relationships – often for just a single manager. Their jobs transcend their many finite duties and obligate them to ensure their clients’ overall happiness. Accounting Services include:

  • Automated capture and reconciliation of portfolio activity
  • Calculation of fees and accrual of expenses
  • NAV calculation
  • Investor and series allocations
  • Daily or monthly fund reporting and data feeds
  • Interim and year-end audit planning, financial statement preparation and distribution, tax support and calculation of book-to-tax differences (i.e., wash sales, constructive sales, straddles etc.)

 

Business Support Services

Some of our most important services don’t come on a schedule, but are delivered in prompt response to client needs that can never be fully predictable. Whether we’re helping to make decisions, to raise assets or to navigate a crisis, Stone Coast’s mission is to facilitate our clients’ success. Beyond the core services of accounting and investor services, our Business Support services include:

  • Problem-solving on structural, regulatory, operations and business issues, based on our extensive experience with managers who have likely faced similar issues
  • Due diligence support for prospective and existing investors, consultants and fund counterparties via hosted visits, calls, questionnaires, whitepapers and materials
  • Provision of representation letters documenting anti-money laundering and other regulatory compliance practices
  • Liaising with fund directors, counsel and audit firms on launches, reorganizations, wind-downs, regulatory changes and extraordinary events
  • Supporting clients undergoing SEC, FINRA and other regulatory examinations through the provision of information, analysis and interview support
  • Securing confidential client and investor information through a combination of technology, vendor solutions, personnel policies, training and ongoing testing and monitoring

Compliance & Regulatory Support

Stone Coast mitigates clients’ administrative burdens by offering comprehensive compliance and regulatory support services designed to meet US and global mandates. Services are provided through our Legal & Compliance team, Financial & Regulatory Reporting team and client operations teams. Compliance and regulatory support includes:

  • Know Your Client: verifying the identity of fund investors and beneficial owners
  • Anti-Money Laundering: matching the source and destination of investor capital flows to investors and beneficial owners
  • Anti-Money Laundering Officers for Cayman funds: providing natural persons to serve as Anti-Money Laundering Compliance Officer (“AMLCO”), Money Laundering Reporting Officer (“MLRO”) and Deputy Money Laundering Reporting Officer (“DMLRO”) (collectively, “AML Officers”) as required by Cayman law
  • FATCA and CRS: identification and reporting of investor tax domicile from tax forms and subscription materials, and ongoing monitoring for changes in circumstance
  • Regulatory Filings: Form PF, CPO-PQR, AIFMD Annex IV and OPERA report preparation and filing
  • Examinations: supplying information, analysis and interview support for clients examined by the SEC or other regulatory bodies
  • Governance: serving as corporate secretary for offshore funds, coordinating board meetings and agendas, recording minutes, drafting and circulating routine resolutions, presenting administrator reports and supporting fund counsel and directors

Investor & Cash Services

Stone Coast’s Investor Services teams help investors through the fund subscription and redemption process while ensuring compliance with tax and anti-money laundering (AML) regulatory obligations. Our Cash Services team ensures that investor cash and fund expenses are wired safely.

We seek Investor Services representatives who are values-driven, friendly, motivated and smart. Candidates are evaluated for written and verbal skills, and trained to handle investor matters with knowledge and tact. Each client’s representative is part of a small team, reinforced by managerial support and by an aligned Legal and Compliance team.

Investor Services include:

  • Subscription and redemption processing
  • Side letter tracking
  • Capital call management (for private equity funds)
  • Trade confirmation
  • Capital transaction reporting
  • AML, FATCA and CRS compliance (See “Compliance & Regulatory Support”)
  • ERISA and Blue Sky reporting
  • Distribution of statements, transparency reports, tax reporting and audited financial statements

Cash Services include:

  • Movements of subscription cash to trading accounts
  • Payments of redemptions and hold-backs to investors
  • Payments of fund expenses

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©2017 Stone Coast Fund Services 2 Portland Square Portland, ME 04101 888.699.2680
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About Stone Coast

From a sole office on the Maine coast, some 188 Stone Coast staff serve $70 billion in fund assets. Stone Coast is unique. We don’t advertise or prospect for clients, but follow a motto that “Operations is Sales.” We perpetually top quality and value rankings, and grow only from referral by extraordinarily satisfied clients. The ingredients are simple: we offer – by far – the most senior and stable staff of any administrator, averaging 12.6 years of industry experience and annual retention of approximately 94%. Nothing is outsourced, and staff-client pairings typically last for years. We tightly regulate growth and workloads to ensure that clients get our best.

Stone Coast invests in technology and staff for the long term, without distraction or impediment. We have no debt to service, no passive owners and no share price to maintain. We’re neither the cross-sell product of a supermarket bank nor a pending transaction in a PE portfolio. Purely organic growth avoids the fault-lines and dysfunctions of acquisitions. Our senior management knows the business – and each client – to the core. Relationships average about $850 million, from very small to multiple billions. New business splits between launches and conversions from other administrators. We excel both with straightforward funds and with loan, credit and derivative-heavy portfolios.

©2017 Stone Coast Fund Services 2 Portland Square Portland, ME 04101 888.699.2680
Investor Login

About

Stone Coast’s Services

Stone Coast services are designed to fully satisfy client needs while meeting best practices expectations of regulators, counter-parties and risk-conscious investors. We pair industry-leading technology with strict controls and quality monitoring, but our clients’ satisfaction is driven most fundamentally by staffing excellence. Stone Coast offers an unparalleled combination of staff experience and low turnover, and we pair those traits with tightly regulated growth and low fund-to-staff ratios. Clients are assigned to small service teams with which they can expect to work for years.

Accountability for client satisfaction is shared at all levels. We conduct monthly Principal-level reviews of each client’s satisfaction, issues and risks, and our most senior management remains proactively involved with — and available to — all clients. Oversight also includes strong controls and work review, robust incident monitoring and internal audit functions, and external SSAE 18 audits of controls.

©2017 Stone Coast Fund Services 2 Portland Square Portland, ME 04101 888.699.2680
Investor Login

Services

Careers At Stone Coast

Stone Coast Fund Services is an award-winning, steadily growing hedge fund administrator that’s found a better way in a better place. With a sole office in Portland, Maine, Stone Coast comprises 188 hard-working and smart professionals who deliver administration services to 83 hedge fund managers around the country, with investors around the world. Our growth has been fueled entirely by the quality of the services we deliver and by the trust, affection and respect of the clients we serve. We distinguish ourselves from our competitors because our people distinguish themselves every day. We hire carefully, treat people well, and are rewarded by exceedingly low turnover in an industry where high turnover is the norm. Our mission statement is to “take pleasure in work done well, and in working well with others,” and we’re truly committed to that goal.

©2017 Stone Coast Fund Services 2 Portland Square Portland, ME 04101 888.699.2680
Investor Login

Careers

Contact Stone Coast

Client and Investor Issues

If you are an investor in a fund administered by Stone Coast and would like to contact us regarding subscription, redemption or routine account matters, please call 207.699-2680 x 1 or email investorservices@stone-coast.com

If you are an investor with operational due diligence inquiries, please contact Rob Larson at 207.699.2680 x 233 or email duediligence@stone-coast.com

Fund managers who already are clients of Stone Coast should contact their service teams or may contact Sara Morris at 207.699.2680 x 235 or smorris@stone-coast.com

Partnering with Stone Coast

To discuss your Hedge Fund Administration needs with Stone Coast, please contact Rob Larson at 207.699.2680 x 233 or rlarson@stone-coast.com

If you are interested in exploring employment opportunities at Stone Coast, please visit our Career Center for current openings.

©2017 Stone Coast Fund Services 2 Portland Square Portland, ME 04101 888.699.2680
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