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Covercy for Private Real Estate Investor Funds
May 30, 2022

Covercy for Private Real Estate Investor Funds

Sadie Swisher | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Covercy

We use Covercy as an investor portal for our private real estate fund investors. It allows them to see their personal investment in our private fund, as well as all the assets held within the fund. We also utilize it for outside investors who invest in individual assets alongside the fund, but who are not invested in the fund itself. It allows us to distribute quarterly reports within minutes to all investors, send distributions directly to client bank accounts (we used to mail checks), and post information about current and new investments along with updated photos on development projects.
  • Distributions to clients are easy and straightforward
  • Customer service is quick to respond
  • Updating and adding new assets is very easy
  • Return information is set within hard parameters, we can't show investors their return growth after our year-end NAV update.
  • You can't distribute new reports to individual investors or specific clusters of investors.
  • Direct deposit
  • Report distribution
  • Investor capital information - how much was put in, distributed, etc.
  • The ROI I can provide is for time management. It saves us at least 2 days' worth of work each quarter on capital distributions alone, and at least 30 minutes on each report distribution. Not to mention the amount of time it saves us on fielding client questions regarding their capital because they can just log in and see everything on their portal.
I don't remember the names of the other products we looked at, but Covercy was much more cost-effective than the other 3-4 products we demoed and offered a more holistic service.

Do you think Covercy delivers good value for the price?

Yes

Are you happy with Covercy's feature set?

Yes

Did Covercy live up to sales and marketing promises?

Yes

Did implementation of Covercy go as expected?

Yes

Would you buy Covercy again?

Yes

Distributions to investors have become much easier for us with the direct deposit feature. Capital calls will be much easier once they roll out the capital call feature. Quarterly report distributions are much easier for us. We update our NAV at the end of each year but unfortunately cannot show investors their return growth from the NAV update. Instead, it shows the NAV as invested capital, which affects return metrics.