Anduin vs Passthrough
A side-by-side comparison of Anduin and Passthrough — two options for lp reporting & investor relations. Pricing, features, and honest pros and cons.
Category
LP Reporting & Investor Relations
LP Reporting & Investor Relations
Rating
4.2 / 5
4.7 / 5
Pricing
Custom / Quote
Custom / Quote
Best for
Funds running institutional closes with counsel involved
GPs closing funds without chasing PDF sub docs
Key features
- Digital subscription document workflows
- Pre-population and error checking
- Real-time closing dashboards
- Structured data handoff to admins and counsel
- Multi-close and side-letter tracking support
- Sub docs as smart, guided questionnaires
- Answer reuse across funds and vehicles
- Integrated KYC/AML screening
- Real-time closing status dashboards
- Collaboration with counsel in one workflow
Pros
- Strong law-firm and fund-admin relationships
- Handles complex institutional closes well
- Structured data output kills re-keying errors
- Dramatically faster closes — LPs actually finish the docs
- KYC/AML handled in the same flow
- Repeat LPs onboard nearly instantly on Fund II
Cons
- Less self-serve than newer onboarding tools
- Setup involves coordination across your counsel and admin
- Solves onboarding, not full IR — pair with a portal
- Pricing conversations required for small one-off vehicles