Peter Haskopoulos on Building a Better Fund Administration Model

What does great fund administration look like as private markets become more complex and technology plays a bigger role in day-to-day operations?

Petra Funds Group Co-Founder Peter Haskopoulos recently joined Scott MacDonald on the Investment Management Operations Podcast to discuss how his experience as a CFO helped shape Petra’s approach to fund administration, the role experienced professionals continue to play in an increasingly technology-driven industry, and what managers should consider when choosing an operational partner.

Before co-founding Petra, Peter spent nearly 16 years at Riverstone, where he served as CFO of the fund group and later CFO of the firm. During that time, Riverstone grew from $222 million to $45 billion in assets under management, giving Peter a firsthand look at what it takes to build institutional infrastructure alongside a rapidly growing investment firm.

That experience ultimately helped shape Petra’s model. As fund structures, LPAs, side letters and investor expectations have become more complex, Peter argues that technology alone cannot solve the operational challenge. Strong technology matters, but so do experienced people, disciplined workflows, accountability, and the judgment to know how to respond when something does not go according to plan.

As Peter explains in the conversation, “The technology matters. It’s a critical element. The execution matters more. It’s the piano player, not the piano.”

The discussion also explores how AI is changing fund operations. Peter sees AI as an opportunity to augment experienced professionals rather than replace them, particularly in areas such as data extraction, review and workflow efficiency. As adoption increases, he believes firms need to balance the potential for greater speed and accuracy with the judgment and oversight required when working with critical fund data.

Peter and Scott also discuss the needs of emerging managers, private credit fund administration, management company accounting, compliance and the questions GPs should ask when evaluating a fund administrator. For managers in the selection process, Peter’s advice is straightforward. Look beyond the logo and the sales presentation. Understand who will actually service the account, how experienced the team is, how the firm’s workflows operate, and how responsive that team will be once the engagement begins.

Listen to the full episode of the Investment Management Operations Podcast to hear the conversation.