IQ-EQ is a global fund administrator with deep technical accounting expertise, supporting private market managers globally. As client demand grew and fund structures became more complex, the team sought to enhance and scale their carry modelling service for fund manager clients across the EMEA region.
Carry models were traditionally built and reconciled in spreadsheets. Thorough, but partly manual, time-intensive, and increasingly difficult to scale.
To maintain high service standards without increasing operational risk or internal workload, IQ-EQ needed a way to automate calculations, standardise reporting, and reduce dependency on spreadsheets while preserving the accuracy and technical validation their clients rely on.
IQ-EQ worked closely with qashqade to co-develop an enhanced carry modelling solution powered by the qashqade platform and its Services for Private Markets (SPM) team.
The collaboration combined:
Together, the teams established a scalable, audit-ready setup designed to support multiple funds, geographies, and structures.
By automating carry modelling and incorporating qashqade’s expert support, IQ-EQ transformed its process into a faster, more consistent, and more scalable offering.
Key outcomes include:
As noted by IQ-EQ’s Head of Technical, Funds Client Delivery, the collaboration created a powerful synergy pairing in-house expertise with qashqade’s technology and advisory support to deliver deeper insights, faster resolutions and more robust carry analysis than any standalone technology can achieve.
IQ-EQ can now deliver a modernised, technology-enabled carry modelling service that strengthens internal workflows and provides greater value to GP clients, meeting rising market expectations for digital-first solutions.
A precise understanding of a client’s limited partnership agreement and accurate implementation of carry models are among the critical skills we believe clients expect from a fund administrator. By pairing our technical expertise in LPA validation and carry modelling with qashqade’s collaborative advisory team, we’ve created a synergy that delivers deeper insights and shared learning, strengthens carry analysis and fund accounting practices, and achieves faster resolution of complex carry scenarios – far beyond what standalone technology can achieve. qashqade doesn’t just provide technology, they provide tailored support and work closely with their clients to drive better outcomes.
– Gaurav Marwah, Head of Technical, Funds Client Delivery at IQ-EQ
The full case study can be found here.
