Private Equity Fund Administration Services
With Baker Tilly as your fund administrator, general partners are able to confidently focus on what they do best – deploying capital, managing investments and building investor relationships.
Private Equity Fund Administration Services
Baker Tilly’s private equity fund administration services (PEFS) group provides comprehensive fund administration services including fund accounting, financial reporting, waterfall administration, capital event management, investor relations, treasury services, and general back-office consulting for investment firms.
We function as a seamless extension of your team, alleviating the accounting and administrative requirements placed on fund managers. Further, as part of a CPA platform, our fund administration team gives you additional access to a breadth of resources not found inside standalone fund administrators or large financial institutions.
Baker Tilly utilizes best-in-class technology — FIS Investran. By leveraging Investran and other technology solutions, our team can provide enhanced reporting and transparency to investors and key stakeholders while helping funds scale operations efficiently.
Baker Tilly’s PEFS team has the expertise to:
- Account for sophisticated fund nuances, intricate investor allocations, and complex investment transactions
- Track detailed cash flows, by source and use, by investment, and by investor
- Create carried interest calculations that are both dynamic and easy to understand and utilize
- Prepare ad-hoc investor reporting, including fund and investment performance returns, audit confirmations, and institutional-required templates (e.g. ILPA)
- Provide fund administration best practice guidance and perform CFO advisory services
- Remediate prior accounting periods, historical data and waterfall calculations
Fund accounting
- Review fund agreements and other governing legal documentation
- Maintenance of general ledger and supporting lead sheet schedules
- Preparation of carried interest calculations, both on a hypothetical and realized-basis
- Prepare management fee, advisory fee, portfolio fee and other complex fee calculations
- Preparation of performance and return calculations at the fund and deal-level
Financial reporting
- Prepare financial statements and footnotes for the annual audit of the fund
- Preparation of quarterly fund financial statements and investor capital statements
- Preparation of financial statements for the management company, GP-entities, co-investment vehicles, SPV-entities, holding companies, and other GP-affiliated entities
- Coordinate with the fund’s tax preparer and prepare the required supporting documentation
- Manage the annual audit process, including preparation of supporting work papers and acting as primary point of contact for audit team
Investor relations
- Provide and manage web-based portal for investor reporting and communication from the fund to its investors
- Maintain database of investors contact information
- Repository of fund correspondence in a single location: capital calls, distribution notices, quarterly and annual financial statement reports, investor capital statements, K-1s, and general investor relations correspondence
- Prepare and manage ad-hoc investor requests
- Assist with fundraising-related due diligence questionnaires
Capital event management
- Capital calls - preparation of calculation and distribution of capital call letters to investors, including tracking and communicating the receipt of all contributed capital
- Distributions - preparation of calculation and dissemination of distribution notices to investors, including cash movement oversight and ensuring wires are fully processed
- Evaluate the fund’s position within the distribution waterfall and where applicable, include the impact of carried interest
- Evaluate fund liquidity needs and proactively propose capital events based on fund operations and investment activity
Treasury services
- Administration of online banking portals, including initiation of recurring and ad hoc cash movement requests
- Review and track wire and ACH payments for fund and fund-related entities
- Reconcile bank accounts on a monthly basis
- Annual 1099 preparation
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