#United States #San Francisco #hospitality #HC Global #Benchstrength

HC Global Fund Services Expands Its Portfolio with Benchstrength Acquisition

In a significant move aimed at enhancing its service offerings, HC Global Fund Services, LLC has recently acquired Benchstrength vCFO, Inc. This acquisition marks an ambitious expansion into the hospitality sector, a strategic decision that underscores HC Global's commitment to providing comprehensive financial solutions tailored for real estate fund managers and investment advisors.

Strengthening the Financial Landscape in Hospitality

Founded as an outsourced accounting firm, Benchstrength has made a name for itself by focusing primarily on the hotel industry. This alignment with HC Global's service-oriented mission is geared towards offering a full spectrum of accounting services that cater not just to fund administration, but also property-level accounting across various asset types, including hospitality.

This acquisition solidifies HC Global's strategy of transitioning from a traditional fund administration provider to a multifaceted service provider that integrates full-service accounting across management companies and property levels. Their offerings now span back-office support, start-up finance setups, ownership transitions, and construction accounting — all delivered through a follow-the-sun operating model that ensures dedicated service across multiple time zones.

Leadership with Expertise

At the helm of this new Hospitality practice is Warren Cruz, the founder of Benchstrength and a seasoned professional with over 25 years in hospitality finance. Known for his exemplary leadership, Warren holds experience as CFO at Sightline Hospitality and has played pivotal roles at other prominent firms in the industry. His expertise spans essential areas such as hotel transitions and pre-opening strategies, alongside comprehensive knowledge of USALI-compliant accounting practices.

As HC Global's new Managing Director for Hospitality, Warren Cruz aims to leverage his deep understanding of the operational intricacies and regulations surrounding hotel accounting — further emphasizing HC Global's mission to streamline processes for its clients in this sector.

Meeting Critical Needs in Real Estate Fund Management

One of the primary challenges real estate fund managers face has been the necessity for dual service providers to handle fund administration and property-level accounting. This acquisition helps bridge that gap, with HC Global now positioned to offer a singular solution that encompasses the entire financial management landscape — from investor reporting and tax compliance to USALI-compliant property-level accounting.

Roselle Polo, Managing Director at HC Global, expressed the strategic intent behind the acquisition, stating, “Our goal is to be the one-stop shop for real estate funds. With Benchstrength, a real estate or hospitality manager can run their entire back office through HC Global.” This integration not only enhances service delivery but also simplifies workflows by ensuring a unified data flow between varied financial services.

Evolution of Client Services

The addition of Benchstrength's specialized service lines, which include CFO support for start-up hotel management companies and supplemental staffing, will continue under the auspices of HC Global Business Solutions – Hospitality. This will ensure that both existing and new clients receive the same level of dedication and expertise they have come to expect.

“In joining HC Global, our clients gain access to a greater scale of operation, innovative technology, and global resources, allowing them to grow in an increasingly competitive market,” said Cruz.

Overall, this acquisition serves as an essential enhancement in HC Global’s offerings, positioning the firm as a formidable player in the hospitality finance sector, ready to tackle the unique challenges that hotel management companies face. Through this strategic union, clients can expect a seamless blend of innovative financial solutions delivered with expertise and excellence.

About HC Global Fund Services

HC Global Fund Services is a certified firm providing tailored fund administration, tax compliance, and consulting services to fund managers and investment advisors. With a diverse team of more than 750 professionals spread across major cities in the United States, along with offices in Toronto, Mumbai, and Manila, HC Global prides itself on its global reach and commitment to excellence.

About Benchstrength vCFO, Inc.

Benchstrength has solidified its reputation as a specialist in outsourced accounting services for the hotel industry, supporting a diverse range of clients from ambitious startups to large multi-property operators.

This acquisition not only expands HC Global’s footprint in the hospitality sector but also enhances its capability to offer a full suite of services tailored to the unique needs of real estate fund managers.