Limited Partners

Greater Visibility & Better Decision Making

The administration of illiquid alternative assets has become increasingly complex. As investor and board expectations rise and compliance requirements become more rigorous, the back office performs an increasingly critical function. PEF helps you meet these challenges by managing the day-to-day requirements, providing senior-level insight into strategic matters, and empowering more confident, effective decision-making through timely and meaningful analytics.

PEF has the experience and technology to help your back office seamlessly upgrade the quality, breadth, depth, and timeliness of the information that drives decision-making. We combine state-of-the-art technology, extensive alternative investment experience, and a high-touch, boutique-style engagement model to help Limited Partners navigate complexities, gain efficiencies, and enhance analytic and reporting capabilities.

Download The Solution Sheet for more information on our services for Limited Partners. See how we help our clients enhance control, visibility, and decision making.

Our LP Services

Stand-Alone Verification & Review Services

Non-standardized reporting can make it challenging for Limited Partners to capture and record investment fees and expenses. PEF fee and expense verification and review services let you outsource this complex and time-consuming task while gaining a clear, accurate view of the costs incurred.

  • Management fee recalculation at the investor level
  • Incentive allocation modeling and verification at the investor level
  • A review of expense allocations in accordance with the LPA
  • Manage workflow for greater efficiency and accuracy
  • Provide fund accounting guidance and support
  • Address resource constraints and expertise gaps
  • Validate performance and historical records
  • Review, calculate, and reconcile capital notices
  • Review, reconcile, adjust, and trouble-shoot partner capital statements
  • Manage and report on the schedule of investments
  • Provide 24/7 access to a client portal with customized dashboard reports

Firms We Serve

Corporate Pension Plans
Public Pension Plans
Foundations & Endowments
Family Offices
Fund of Funds

Capital Notices

  • Review notice for required components
  • Verify wire instructions
  • Calculate and verify unfunded commitment
  • Reconcile cash activity
  • Provide a multi-level review prior to funding

Partner Capital Statements

  • Review statement for required components
  • Reconcile capital transactions and unfunded balance
  • Recalculate and approve management fees
  • Review incentive allocation
  • Resolve issues directly with fund managers

Schedule of Investments

  • Analyze investment detail
  • Track industry and geography classifications
  • Record cost and fair value at fund and investor level
  • Quarterly updates resulting in variance analysis
  • Customized investment data point collection

Client Reporting

  • Portfolio summary with customized dashboards
  • Cash activity analysis
  • Fund valuation and operations
  • Investment fund fee analysis
  • Portfolio company exposure
  • Performance reporting (IRR, TWR)

Customized Compliance Solutions

PEF provides customized compliance solutions to support your team’s ongoing monitoring of investment funds. For Limited Partners, it is critical to perform independent procedures that supplement the annual audits, which seldom fully address investor-specific allocations. By examining your portfolio at the underlying fund level, you can gain a more complete understanding of your exposure, fees, and liquidity.

  • Document significant fund terms using PEF’s Fund Fact Sheet
  • Verify fund expenses and investor allocations
  • Recalculate management fees
  • Model incentive allocation/waterfall
  • Implement ILPA-based reporting and analytics

The Limited Partner’s Guide to Fund Administration

As the private capital market matures, Limited Partner priorities are shifting. In an era of data-driven financial decision making, Limited Partners want investments that enable them to take a more active role in monitoring their funds, analyzing performance, identifying potential conflicts of interest, and evaluating risk and exposure.

This white paper looks at the growing impact fund administration has on the investor experience and then provides guidance for Limited Partners who wish to take a more proactive role in evaluating the capabilities and setting the expectations for this critical back-office function.

White Paper: The Limited Partner’s Guide to Fund Administration

Benefits of Outsourcing Private Capital Fund Administration

In the past decade, the private capital industry has changed—and grown—dramatically.

As the pace of change accelerates, a growing number of investment firms of every size and type are rethinking their back-office strategy…and turning to outsourced fund administration.

Featured Case Studies