Beacon Capital Partners
Customer Success Story
Beacon Capital Partners is a leading office investment manager with a 70-year legacy of successful real estate development, ownership, and management. Since 1998, Beacon has raised eight investment vehicles totaling over $12 billion in equity from a diverse institutional investor group, fueling 150+ office investments worth approximately $30 billion.
Beacon had grown frustrated with its existing investor relations software system, which was hard-to-use, had a cumbersome interface, and simply sent communications and distributed documents. “Our previous system delivered PDFs to investors,” said Dane Rasmussen, Managing Director and Head of Investor Relations. “We wanted to go beyond that, to give investors direct access to their data, not just their documents. Our back office processes were inefficient when trying to make sure that everything came together in the right place.”
Search for a Solution
Due to his frustration with their system, Dane had begun considering alternatives. His colleague, Sara Shank, who oversees certain technology initiatives as Managing Director and Head of Portfolio Management at Beacon, came across Juniper Square and arranged a demonstration. “When we saw the first demo of Juniper Square, it was immediately obvious that it was light years ahead of anything else we had seen. Because Juniper Square was designed specifically for the real estate industry, we didn’t have to explain to them how things worked. They had already implemented key real estate and fund concepts into their software, so it worked right out of the box.”
Beacon’s investment management practices have become more efficient since implementing the Juniper Square platform. Now, one source of data powers their investor portal, investor report generation, capital accounts, performance calculations, and investor communications. This frees up staff to focus on the most productive uses of their time, and reduces the chance of errors.
“With Juniper Square we now have a single platform that’s used by all internal groups for investor information, from finance, to investor relations, to accounting, to compliance. It’s a smooth process in terms of managing the back office processes, and now everyone at Beacon who interfaces with investor data is now working from the same system,” said Rasmussen.
Investors are pleased to have self-service, secure access not only to their investment documents, but to their capital account, transaction, and performance data, and data on assets held by each of the funds. The IR team now spends less time responding to administrative requests from investors, and more time on building relationships.
“If you think about how you manage your 401(k), you can access your data, your holdings, your portfolio directly. The information is dynamic and accessible via the web, not just stored away in documents. That’s the standard we want to meet with our investors. We have always strived to be at the forefront of providing transparency and information, and Juniper Square really helps us achieve that objective,” said Rasmussen.
Increased investor satisfaction.
“The investor response has been very positive. One key investor, who is very familiar with many investor portals, said Juniper Square was by far and away the best he’s ever seen,” said Rasmussen.
One shared data repository.
According to Rasmussen, “Juniper Square has really become the platform for us to record and report information to investors, particularly on their capital accounts. It has enabled us to not only provide more comprehensive and dynamic information to investors via the portal, but it’s also given our internal teams one place to manage the information.”
More efficient back office.
“Juniper Square has really helped to streamline our back office processes, from calling capital, to distributing reports, to issuing distributions, Juniper Square is about as close to ‘one-click’ as you can get,” concluded Rasmussen.