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Thursday 6 August 2020
Fund Accounting 101: What Is Fund Accounting? Phoenix American
Once the fund has gone live, as investors are admitted to the fund, money is coming in and assets are being acquired, fund accounting will conduct a review of the processes and workflow established in the initial set up and implement adjustments, as needed, to accommodate operational reality. Is cash coming in through the right channels? Is investment data complete and correct? Are subscription documents in good order: contact information, investor tax status, side letters? Are any unique calculations necessary? Is the deployment of capital changing the structure or flow of funds in any way? Do sub-entities or blockers need adjustment? It may be necessary to revisit the setup process or even draft amendments to the LPA or LLC agreement to accommodate how it is now known the fund is going to work.
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