Keeping up with rapid LP growth and regulatory requirements

Midwestern University

Midwestern University specializes in healthcare education. Midwestern is dedicated to providing academic programs that prepare skilled and dedicated healthcare workers to meet the growing needs of society.

• Headquarters Downers Grove, IL and Glendale, AZ
• Assets Under Management $700M
• Website https//www.midwestern.edu/

Midwestern University’s CFO made the decision to partner with Clearwater Analytics as the university’s investment team was eagerly expanding their number of limited partnerships (LPs) from 20 to over 70 and their lean accounting team was being inundated in repetitive tasks. With this growth and more to come, spreadsheets proved to be too cumbersome and time consuming, especially for year-end audits.

• $700 million in AUM
• 30 minute close at month end
• 500+ page monthly statement automated

Challenges

• Outdated and slow aggregation of investment data
• Scalability to keep up with rapid LP growth and regulatory requirements
• Ability to track illiquidity and liquidity of alternative assets with one tool

Results

• Accounting, compliance, performance and risk reporting for public and private assets
• Half an hour to close books at month-end
• Automated their 500+ page monthly statement to a single statement

“My reporting time has been cut down from 3 hours to 30 minutes thanks to Clearwater. I used to have to do a lot of work with auditing, but now I can just download all the activity in more detail than ever before.”

Steve Landin, Sr. Accounting and Treasury Manager, Midwestern University