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Private Equity Funds

Today's private equity manager needs a service provider with the skills and expertise to deliver consistent and timely reporting. With characteristics such as finite life cycles, closed end and limited partnerships structures and investments in illiquid securities, it is important that your administrator fully understands the private equity business. Citco Fund Services offers high quality administration services to private equity firms. Drawing on our premier industry leading, private equity technology platform, we are able to offer an outstanding range of private equity fund administration services globally. These services include Fund Accounting and Administration Services, Investor Relations Services, Tax and Audit Services and SPV Administration Services.

KEY ATTRIBUTES

  • Fund Accounting and Administration Services
    • Maintain official books and records
    • Process trade-related transactions and corporate actions
    • Compute fees and accruals (including management fee and carried interest)
    • Trades, positions and cash reconciliations
    • Financial Reporting
    • Capital account maintenance
    • Independent and timely calculation of the net asset value in accordance with IFRS/GAAP requirements
    • Provide accounting related reports to the investment manager
    • Multi-currency capabilities
    • Capital Call and Distribution Processing
  • Investor Relations Services
    • Maintain all investor records
    • Communication services with investors and the Fund's third parties, including investor due diligence questionnaires
    • Reporting services including dissemination of newsletters, NAVs and holding statements
    • Prepare and issue capital call and distribution notices to investors
    • Process capital activities (commitments, capital calls, distributions, drawdowns, transfers)
    • Investor identity verification in accordance with KYC & AML, procedures
    • Web enabled reporting for investors'
    • Treasury/Cash management
  • Tax and Audit Liaison Services
    • Establish and maintain investor capital accounts on a book and tax basis
    • Prepare form 1065 and Schedule K-1's
    • Prepare state, local and other required tax forms
    • Interact with the fund's independent accounting and tax firms
    • Tax planning for future products
    • Create year end audit package and host annual partnership audit including first draft of financial statements
    • Prepare quarterly (unaudited) financial statements and investor activity to limited partners and investment advisor
    • Maintenance of books and records in accordance with IFRS, GAAP, tax and local requirements
    • Calculate preferred returns, special profit allocations and complex distributions
    • Calculate IRR at both legal entity and investor levels
    • Audit coordination and support
  • SPV Administration Services
    • Establishment of companies (SPVs)
    • Open bank accounts
    • Provide domicile / registered address
    • Provide personal / corporate resident directors
    • Provide company secretarial services
    • Ensure companies meet local requirements
    • Assistance with tax reporting
    • Accounting including preparation of financial statements and consolidations, as integral part of the administration of the private equity fund

 

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