Caruso Expands US Fund Administration Business From Dallas

Oct 15, 2026
Caruso is expanding into the United States with a North American hub in Dallas. Its platform uses AI agents to process fund administration tasks while managers retain access to their data.

Caruso announced in a press release that it is expanding into the United States and establishing its North American hub in Dallas. Cofounder and CEO Mark Hurley will lead the US business, joined by RJ Schulte as vice president of fund administration services and Amit Baria as vice president of client partnerships.

Founded in Australia and New Zealand in 2023, Caruso administers more than US$75 billion across over 950 private funds for more than 100 fund managers. Its assets under administration increased from US$20 billion in October 2025.

Caruso combines investor records, capital accounts, its investor portal and its manager console on one platform. AI agents process investor documents, applications, redemptions and compliance tasks under each fund manager's rules, while cases outside those rules go to staff for review. Managers can also query fund data in plain English or access it through APIs and MCP.

We hope you enjoyed this article

Consider subscribing to one of our newsletters like Finance AI Weekly or Daily AI Brief.

Also, consider following us on social media:

AI in Finance AI Brief AI Brief (X)
Free newsletter

Finance AI Weekly

Weekly newsletter about AI in finance. Covers AI-driven trading, fintech innovations, and data analytics transforming markets

AI Token Webinar

Industry analysis

2025 Global Business Services Agenda: Gen AI Takes Center Stage

The Hackett Group

This industry analysis by The Hackett Group explores the transformative impact of generative artificial intelligence (Gen AI) on global business services (GBS) in 2025. The study highlights the shift from exploration to acceleration of Gen AI initiatives, with 89% of executives advancing these projects to improve customer satisfaction, innovate products, and reduce costs. The report also discusses the challenges and strategies for successful Gen AI adoption, emphasizing the need for a technology-enabled operating model and the importance of reskilling the workforce.

Read more

You may also like

Free, six days a week

Daily AI Brief: the AI news that matters, in your inbox.