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We spend a lot of time at Passthrough thinking about what separates the highest performing fund managers, fund formation attorneys, and fund administrators from the rest. We have a unique vantage point. Sitting at the infrastructure layer for investor onboarding and financial crime compliance means we see how thousands of fund closes actually happen every year.
The performance gaps are striking. Firms using Passthrough close funds in a fraction of the time it takes with manual processes or legacy tools. Attorneys coordinating dozens of simultaneous raises through our platform operate at a velocity that email-based workflows can't match. Fund admins deliver consistent execution across different GP clients because they're working with standardized software instead of scattered PDFs.
But even within our customer base, some teams stand out. These differences aren't about firm size or brand recognition—they're about operational excellence. The best teams and leaders have figured out that investor onboarding isn't administrative overhead. It's a competitive advantage.
That's why we're launching the Passthrough Pioneer Awards.
What the Data Revealed
We analyzed platform activity from January through November 2025 across thousands of fund closes. The metrics tell a clear story: high-performing teams implement faster, communicate better, coordinate more efficiently, and integrate KYC/AML compliance into their subscription document workflows instead of treating it as a separate burden.
Winners demonstrated LP completion rates exceeding 95%, reduced revision cycles, faster time-to-close compared to platform averages, and exceptional cross-party collaboration. These aren't subjective assessments; they're quantifiable performance advantages that translate directly to business outcomes.
The 2025 Winners
We're announcing winners over the next few weeks. Check back here as we reveal each category, or follow along on LinkedIn.
Lightning Launch of the Year
Recognizing the fund that achieved the fastest time from subscription document set-up to fund close, demonstrating exceptional fund management execution.
Deepwater Asset Management
Private Capital CFO of the Year
Recognizing the finance leader who demonstrated exceptional operational oversight and cross-functional coordination during fundraising.
Brent Kelley, North Hudson Resource Partners
Investor Relations Leader of the Year
Recognizing the IR leader who demonstrated the highest operational efficiency and investor satisfaction across their firm's fundraising activity.
Adriana Benitez, Ares Management
Investor Relations Professional of the Year
Recognizing the IR professional who consistently delivered exceptional investor experiences and coordination across complex fund strategies.
Colleen Chaney, Argosy Private Equity
Fund Operations Leader of the Year
Recognizing the investment operations leader who demonstrated exceptional efficiency and onboarding velocity.
[Winner to be announced]
Financial Crime Compliance Champion of the Year
Recognizing the compliance professional who demonstrated exceptional KYC/AML execution and risk management while maintaining efficient investor onboarding workflows.
[Winner to be announced]
Fund Formation Attorneys of the Year
Recognizing attorneys who managed the most fund closings while maintaining the fastest review and approval cycles, demonstrating exceptional practice management.
[Winners to be announced]
Fund Formation Paralegal of the Year
Recognizing a paralegal who coordinated the most fund closings while maintaining efficient approval cycles, demonstrating exceptional support.
[Winners to be announced]
Fund Administrator of the Year
Recognizing the administrator who delivered the most consistent, efficient service across diverse GP clients and fund structures.
[Winner to be announced]
Why These Awards Matter
Private capital is professionalizing. Banks and broker-dealers now require comprehensive KYC/AML programs from fund manager clients. Institutional limited partners expect digital experiences that match their operational sophistication. The firms winning mandates and attracting top-tier LPs are the ones that treat investor onboarding as a strategic function, not a necessary evil.
The Pioneer Awards use our platform data to identify the teams that have already figured this out. These winners are not only executing efficiently, they're also setting new standards for what's possible in fund operations and financial crime compliance.
Note: When determining winners, all data was anonymized and aggregated in accordance with Passthrough's privacy standards. Selection criteria varied by category to reflect the specific operational excellence required for each role.
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