The New Era of Private Markets Allocation Calculations

Interview with Oliver Freigang, CEO, and Gregor Kreuzer, CPO & Co-founder: The New Era of Private Markets Allocation Calculations

The private markets industry is entering a new era of allocation calculations. With growing complexity in fund structures, carry mechanisms, and reporting demands, firms are under pressure to move beyond spreadsheets and fragmented tools. qashqade’s latest release, version 25.0.0, addresses this challenge head-on, unifying the entire flow of allocations (waterfall, carry and capital) in one platform.

We sat down with Oliver Freigang, CEO & Founder, and Gregor Kreuzer, CPO & Co-founder, to discuss why this release is a true game-changer, how it empowers both decision-makers and operations teams, and what it means for the future of private markets.

We have just gone live with the latest version of qashqade. What inspired this new release?

Gregor Kreuzer: There were two main drivers. First, we wanted to better serve managers. Traditionally, our software has been focused on accountants and operations teams who run waterfalls and generate reports. But managers need something different: they want a real-time overview of how funds are performing, how much gain is being achieved, and how partners are faring. Until now, they had to request reports but with this release, that information is intuitive and available to them directly in one click.

Second, our existing engine reached a point where adding more complex requirements like share-based waterfalls or feeder structures was becoming increasingly difficult. We decided to rebuild for scalability, so future expansions and improvements for our clients can happen faster, with lower complexity.

Finally, after more than seven years of continuous feature growth, we recognized that user-friendliness needed a step change. Release 25.0.0 is the beginning of a journey to make qashqade far more intuitive, while still expanding its powerful functionality.

Why is this release a game-changer for private markets participants?

Gregor Kreuzer: Ultimately, it’s about how you access and manage data. With this release, users get immediate transparency and dramatically improved user experience. Administration is simplified: workflows like GP carry events can now be set up and managed directly in the platform, and they automatically feed into calculations.

Even more importantly, we’ve made our waterfall engine universal. Meaning it can now handle any type of allocation calculation, not just fund distributions. That opens the door to entirely new use cases across private markets.

From a strategic perspective, what does this release mean for private markets firms?

Gregor Kreuzer: It means efficiency and risk reduction. Usability is simpler, data is easier to access, and transparency improves dramatically. That leads to faster decision-making and fewer errors.

Oliver Freigang: But it also means flexibility for the future. The new engine allows us to add features and meet client requirements much faster than before. Private markets are evolving quickly, and our clients now have the confidence that qashqade can adapt to their needs with even greater speed whilst keeping the accuracy we’re known for.

From your perspective, what does this release enable for the decision-makers at private markets firms?

Oliver Freigang: Decision-makers gain immediate transparency. Whether it’s a fund manager or even a pension fund investor using a client portal, they can see how vehicles and partners are performing without waiting for a CFO to provide a report.

That shift from delayed reporting to real-time insight is transformative. It puts control in the hands of decision-makers and strengthens trust with their stakeholders.

What excites you most about this release?

Oliver Freigang: I’m excited about two things: flexibility and direction. Flexibility, because we can now respond to client needs faster than ever before, delivering bespoke functionality at speed and scale. Direction, because this release is a clear step forward in our strategy to stay ahead of the market. It shows that qashqade is not only keeping up with private markets complexity but actively defining how it should be managed.

Gregor Kreuzer: For me, it’s twofold. First, we’ve bundled years of experience into a platform that truly reflects the needs of both accountants and managers. Every client benefits from that accumulated expertise.

Second, we’ve opened the door to new allocation types: GP carry workflows, share-based waterfalls, cap table-driven events, and more. The new engine makes it possible to add these features quickly and reliably. This is not just an upgrade; it’s a foundation for the next era of allocation management.

How does this release help firms gain a competitive advantage in private markets?

Gregor Kreuzer : Our clients gain two layers of advantage: they can do more, and they can do what they already do better.

On the one hand, the software allows firms to implement complex, differentiating structures faster and with more accuracy than competitors still relying on spreadsheets or legacy systems. On the other hand, day-to-day operations become more efficient, transparent, and less risky.

Oliver Freigang: And beyond the technology, they also gain our expertise. We’ve been focused exclusively on allocation calculations for eight years. Nobody in the market has read more LPAs, built more waterfall models, or understands the nuances better than we do. That combination of best-in-breed software and unrivaled know-how is hard to beat.

How does this release position qashqade and its clients for the future?

Gregor Kreuzer: With this release, qashqade remains best-of-breed, purpose-built for proceeds-driven allocation management. And we’ve future-proofed the platform to expand into any type of allocation: fund distributions, GP carry, capital events, or even new structures the market hasn’t widely adopted yet.

Oliver Freigang: For clients, that means peace of mind. They know they can rely on qashqade not just for today’s complexity but also for whatever comes next in private markets.

Release 25.0.0 marks a significant step forward not only for qashqade, but for the entire private markets ecosystem. By combining transparency, efficiency, and scalability, it empowers firms to manage today’s complexity while preparing for tomorrow’s challenges.

Want to see the release in action? Explore the full video walkthrough of the new features.