Nearly Nine in 10 Private Capital GPs Face Data Validation Challenges

88% of GPs say finance and operations teams spend 11% to 50% of their time validating, reconciling, recalculating, or recreating administrator outputs70% of GPs are targeting outsourced or strategic co-sourced operating models, while 97% of LPs expect outsourcing to specialist providers to increase74% of LPs identify IT systems and cybersecurity as important to operational due diligence, while 59% want a documented AI and data governance framework shared during due diligence

Nearly nine in 10 (88%) of private capital general partners (GPs) surveyed say their finance and operations teams spend between 11% and 50% of their time validating, reconciling, recalculating or recreating administrator outputs, according to new research from CSC, the leading provider of global business administration and compliance solutions¹.

CSC surveyed more than 300 GPs and 200 limited partners (LPs) across North America, Europe, the U.K., and Asia Pacific. The report, Future Private Capital CFO 2026, examines how fund finance, liquidity management, reporting, outsourcing, cybersecurity, and AI governance are reshaping the role of the private capital CFO.

Half of GPs say their finance and operations teams spend 11% to 25% of their time validating, reconciling, recalculating, or recreating administrator outputs, while 38% put the figure at 26% to 50%. As firms add asset classes, structures, jurisdictions, liquidity tools, and reporting requirements, complexity is increasingly being absorbed through manual review, parallel records, and exception management rather than removed from the operating model.

“Private capital firms are operating across more structures, systems, and providers, and finance teams are increasingly absorbing the work needed to connect them,” says Marshall Saffer, managing director, Fund and Capital Markets Services, CSC. “If teams are spending significant time checking and recreating information, that is time not being spent on higher-value analysis and decision support. CFOs need an operating model that gives them a reliable view across the fund.”

The findings also point to barriers to creating a single, trusted operating view. More than half (55%) of GPs cite regulatory or board expectations to maintain full internal records as a barrier to relying more heavily on administrator systems and data as a single source of truth, while 55% cite data timeliness.

“Integration itself can be a huge challenge,” says Chris Patton, regional head of Funds, EMEA, CSC. “Typically, the data is maintained across different systems and provided separately to clients. The practical solution is to push the data into a single golden source so managers can access information in a clear and consistent format for use in their reporting.”

At the same time, outsourcing is expanding. Seven in 10 GPs are targeting either primarily outsourced operations or co-sourcing with a single strategic provider, while 97% of LPs expect outsourcing to specialist service providers to grow over the next three years. Rather than removing oversight, this shift changes what effective oversight requires, increasing the importance of clear data standards, accountability, escalation paths, and evidence across a more distributed operating model.

Cybersecurity and AI governance are also part of operational due diligence. Nearly three-quarters (74%) of LPs identify IT systems and cybersecurity as important to operational due diligence. Yet only 14% of GPs describe their cyber and operational resilience for critical fund operations as very robust. Meanwhile, 59% of LPs want a documented AI and data governance framework shared as part of due diligence. They also want transparency on data sources and lineage, independent model validation or audit reports, and evidence of human review and override.

Chris concludes,“CFOs are increasingly at the center of bringing these different elements together. The opportunity is to reduce the manual and duplicated work created by complexity while building an operating model that is connected, controlled, and able to stand up to investor scrutiny.”

Frequently asked questions

• How much time do GPs spend checking administrator outputs?
  CSC’s Future Private Capital CFO 2026 research found that 88% of general partners (GPs) say their finance and operations teams spend 11% to 50% of their time validating, reconciling, recalculating, or recreating administrator outputs.
• What operating models are private capital GPs targeting?
  CSC found that 70% of GPs target primarily outsourced operations or co-sourcing with a single strategic provider.
• What AI governance evidence do limited partners want?
  CSC found that 59% of limited partners (LPs) want a documented AI and data governance framework shared during due diligence.

Download a copy of CSC’s Future Private Capital CFO 2026: How CFOs are becoming the architects of operational trust.

¹ CSC, in partnership with Pureprofile, surveyed 300 GP and 200 LP senior fund professionals operating in Europe, the U.K., North America, and Asia Pacific to understand their aspirations and challenges for 2026 and beyond.

About CSC

CSC is the leading provider of business administration and compliance solutions, offering industry-leading expertise and unmatched global reach to alternative fund managers and capital markets participants. Leveraging deep institutional experience and a tailored approach, CSC delivers a comprehensive suite of fund administration, trust, agency, and compliance services to support a wide range of private and public market transactions, complex fund strategies, and scalable operations.

As the trusted partner of choice for more than 75% of the PEI 300 and 90% of the Fortune 500^®, CSC helps clients navigate operational and transactional complexities across more than 140 jurisdictions and various asset classes. With extensive worldwide capabilities, our expert teams provide solutions tailored to each client’s needs. Privately held and professionally managed since 1899, we combine global reach, local expertise, and innovative solutions to help our clients succeed.

We are the business behind business^®. Learn more at cscglobal.com.

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