Fund Accounting

Outsourcing your fund accounting function is not just a cost management strategy. Back office functions can become a competitive advantage when managed the right way. Working with an experienced provider is a key element in building a successful infrastructure that supports your strategy. Imagine growing your firm, improving your data, increasing your team’s bandwidth, and employing the latest in technology without having to build or maintain it on your own. That’s the power of outsourcing.

EA RESIG is highly experienced in managing the critical accounting functions necessary for funds of all sizes. We work with you to provide solutions based on your specific needs. Our expertise in financial and operational practices as well as our platform of industry leading technology, software and analytical tools, enables highly complex funds to focus on their core business: investment management. We can:

  • Prepare and maintain accounting books and records:
    • Review transactions with client and their auditors to understand financial implications, reporting and accounting issues
    • Record transactions and maintain the general ledger
    • Record expenses of client in specific categories (e.g. organizational, transactional costs, fund expenses, etc.)
    • Calculate management fees at the Fund level and by LP, including fee credits, offsets and waivers
  • Maintain and record portfolio investment activity:
    • Maintain all required investment information - name, security type, currency, industry, geography, etc.
    • Record purchases and capitalized costs
    • Record investment income- interest, dividends, etc.
    • Record proceeds from sales and related gains/losses
    • Reconcile holdings with custodian, if applicable
  • Preparation of Quarterly/Annual Financial Reporting Package:
    • Prepare trial balance
    • Prepare work paper schedules supporting the financial statements in accordance with GAAP, Tax Basis or IFRS
    • Prepare quarterly financial statements with or without footnotes for internal and/or SEC reporting
    • Compute allocation of partner profits and losses, and distributions
    • Compute all performance calculations and financial highlights
    • Disseminate financial statements and capital accounts to partners
  • Compute and maintain waterfall distribution and allocation models
    • Compute preferred return
    • Perform realized and unrealized waterfall calculations
    • Perform carry and claw-back calculations
  • Audit/compliance:
    • Prepare workpaper package for year-end financial audit
    • Coordinate entire audit process
    • Assist auditors with annual audit, liaise with audit staff
  • Bank Covenant/Credit Facility Reporting

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