Envision Financial Systems has announced AltsKeeper, a bundled solution designed to help transfer agents and broker-dealers support a broad range of alternative and semi-liquid investment products on a single, configurable platform. This development comes as the market for these products experiences significant growth, with industry data showing interval funds and tender-offer funds reaching $222 billion as of the third quarter of 2025, according to The Stanger Closed-End Fund Report from Robert A. Stanger & Company, Inc.
The importance of this announcement lies in addressing the operational challenges that have emerged alongside market expansion. Envision estimates that more than 35% of the semi-liquid registered fund market uses its alternative-investment recordkeeping capabilities, and the number of semi-liquid and other alternative investment products on its platform has doubled over the last three years. This rapid growth has created complexity that AltsKeeper aims to simplify.
"Product complexity has become one of the main constraints to operational productivity when it comes to growth in private and semi-liquid markets," said Brian Jones, chief operating officer at Envision. The platform eliminates reliance on spreadsheets, point solutions, and manual processes that often emerge as firms expand alternative-investment offerings. This is particularly relevant as firms face increasing operational complexity around subscription processing, liquidity events, data integration, and investor communications.
AltsKeeper brings together Envision's capabilities for servicing interval funds, tender-offer funds, REITs, BDCs and other alternative products in a single operating environment. The solution supports these various vehicles within one platform, allowing firms to unify workflows, data, and reporting while maintaining flexibility for product-specific requirements such as non-daily liquidity, customized trading calendars, complex fee structures, and bonus shares.
"Many firms have reached a point where alternative investment product growth is being managed through a patchwork of tools and manual work," Jones explained. "AltsKeeper is designed to simplify and unify that environment—bringing key workflows, data, and integration together so teams can focus on execution rather than workarounds." This approach reflects the realities of clients' businesses today, supporting multiple product structures, managing complex workflows, and integrating with distributors without adding layers of additional software or side processes.
The implications of this development extend across the financial services industry. As alternative and semi-liquid products continue to gain market share, the operational infrastructure supporting them must evolve. Envision has already seen new business opportunities emerge and has signed several new clients as firms assess their operating models in response to these pressures. For more information about the platform, visit https://enfs.com/altskeeper.
This unified platform approach could potentially reduce operational risks, improve efficiency, and support further growth in the alternative investment space. As the market for these products continues to expand—with year-to-date fundraising approximately double the level of just two years ago—solutions like AltsKeeper become increasingly important for maintaining operational stability and supporting investor needs in a complex financial landscape.
