Private Equity and Venture Capital Funds

Fund Inception:

• Review and provide comments on fund documentation 
• Work with brokers, attorneys, and auditors to coordinate fund launch and to establish processes, procedures, and communication flows. 

Accounting:

• Portfolio accounting
  • Daily reconciliation of all cash and investment activity
  • Facilitate investment valuation process
• NAV  and monthly fund return calculations
  • Management fee calculations
  • Performance fee calculations
  • Fund expense accruals
  • Investor subscriptions and redemptions
• Partner allocations
• Preparation of financial statements and capital account statements

Fund Administration:

• Process investor subscriptions
• Calculate and process investor capital calls and distributions
• AML/Know Your Client procedures and documentation maintenance
• Maintain current investor information database
• Investor communications:
  • Monthly/quarterly capital statements and manager letters
  • Audited financial statements
  • K1s
• Respond to investor inquiries
• Annual audit and tax return preparation process management

Treasury Controls:
PFC can participate in the disbursement process in a number of ways as permitted or required by the custodian. 

• Generate letters authorizing the disbursement of cash to vendors and investors based on invoices and withdrawal notices.  Depending on the account set up, multiple signatures may be required to authorize release of the funds.
• PFC has a relationship with JPMorgan’s fund banking group and can set up a client disbursement account with on-line administration of the cash disbursement process