Fund Administration
Fund Administration Services Tailored to Each Fund’s Needs
At Piedmont, we understand that fund administration is not a formulaic, one-size-fits-all process. While every fund will have a basic set of core needs, we know that each type of fund will need slightly different administrative services. In addition, each individual client will have specific questions that require quick responses from a highly accessible engagement team.
When you work with Piedmont, you will have direct access to a dedicated team of professionals with decades of experience serving the investment management industry. Over 75% of our team members come from Big 4 accounting firms, multi-billion dollar asset managers, and top tier fund administration firms. We set out to create bespoke fund administration solutions tailored to each type of investment vehicle. Our fund administration services include:
- Pre-launch advisory and consultation
- Review and comment on draft offering documents
- Calculation of net asset value (NAV) and preparation of monthly management reports & investor statements
- Daily reconciliation of cash and securities across multiple custodians
- Existence and valuation verification
- Recording corporate actions information
- Calculation of management fees and performance allocations
- Cloud-based reporting and a secured investor portal
- Monthly tear sheets and NAV transparency reports
- Preparation of annual GAAP and IFRS financial statements
- Year-end audit assistance and tax reporting support
- Pre-launch advisory and consultation
- Review and comment on draft offering documents
- Preparation of quarterly management reports and investor statements
- Recording income and fund expenses in accordance with the fund’s governing documents
- Maintenance of partnership accounting and partners’ allocation of profit and loss
- Maintenance of waterfall calculations based on the fund’s governing documents
- Calculate and process true-up interest charges for limited partners in subsequent closings
- Preparation and distribution of capital call notices to limited partners
- Maintenance of limited partner communications
- Calculation of the fund’s IRR and fund analytics, i.e. distribution to paid-in capital, residual value to paid-in capital, and total value to paid-in capital
- Preparation of annual GAAP and IFRS financial statements
- Year-end audit assistance and tax reporting support
Our clients trust the Piedmont team to provide superior accuracy on standard fund services and responsive, knowledgeable support on the one-off administrative questions that invariably arise at every fund.