Archive for the ‘Uncategorized’ Category

Opportunity in Disruption – Rethinking Private Equity Management Company Models

Many Private Equity and Venture fund managers continue to capitalize on market events by raising additional – and often larger – funds. Forward-looking firms in this situation may recognize that more or larger funds bring increased operational volume and complexity, along with extra operating expenses. While this may be considered a “quality” problem, it is, nonetheless, worth pondering the operational aspects and the beneficial outsourcing options that can help with growth.

Addressing Rapid Growth


Management companies are tasked with keeping the investment management business running. As such, managers may want to think proactively about how their growth spurt will impact the management company’s ability to adequately control its operational needs.

Responsibilities of a management company are broad:

  • Hire and pay employees
  • Engage vendors, oversee the relationships, and pay expenses
  • Bill portfolio companies
  • Track and monitor accounts receivable
  • Handle regulatory reporting obligations
  • Pay ongoing operating expenses
  • Oversee the fund and fund-related expenses

Disruptions due to the pandemic have prompted creative thinking for accomplishing core operating functions: remote working arrangements, remote due diligence and videoconference annual investor meetings. This inspired thinking has prompted investment managers to consider how to gain efficiencies and scalability not only in their fund management responsibilities but also their underlying management company operations.

Outsourcing: As Relevant for Management Company Operations as for Fund Operations


Outsourcing reduces the resources needed to support an in-house accounting team and allows fund managers to focus on their core business. Management companies can opportunistically engage a service provider to handle day-to-day non-fund accounting functions. Service providers deliver flexibility by offering a full scope of support or ad hoc services. For example, providers can:

  • Maintain the general ledger
  • Process account payables, accounts receivable, travel and expenses
  • Prepare journal entries
  • Bill portfolio companies
  • Process payroll
  • Provide weekly cash reporting and monthly bank reconciliations
  • Prepare financial statements
  • Provide an independent review of all outgoing payments
  • Perform vendor callback verification and maintenance
  • Allocate expenses
  • Prepare and file 1099 reports

Benefits of Outsourcing


At Ultimus LeverPoint, we’ve seen fund managers benefit in significant ways by outsourcing all or some of their management company operations. Your firm size, fund complexity, and level of in-house resources will drive your specific requirements.  One of the most important benefits to outsourcing is that it allows fund managers to focus on their core business.

Staffing Benefits for General Partners

  • Reduced resources needed to support an in-house accounting team
  • Ability to quickly and effectively scale
  • Access to skilled, qualified accountants familiar with the private markets industry
  • Redirected focus on core competencies rather than accounting

Process Benefits for General Partners

  • Immediate access to operational best practices and established standard operating procedures
  • Burnished reputation through using an SOC1-compliant provider
  • Independent Treasury review for all cash movements
  • Ability to obtain synergies by outsourcing management company administration and fund administration to the same entity
    • Enhanced communication, transparency and efficiencies between accounting teams
    • Ability to perform management fee reconciliations, discuss fund-level activities and offer a secondary level of review of expense allocations to the various funds and investments
    • Reduced involvement from fund managers
    • More accurate accounting records on both the fund and management company

Technology Benefits for General Partners

  • Immediate access to best-in-class technology plus streamlined, automated processes
  • Access to multiple accounting platforms (depending on the provider), such as QuickBooks or NetSuite
  • Access to accounts payable processing software to minimize human-error risk

Models for Outsourcing


As with most things, one size does not fit all. A management company’s size, complexity and in-house resources influence the optimal outsourcing model, from co-sourcing to partial outsourcing to full outsourcing.

Co-source – With the co-sourcing model, service providers work within the management company’s infrastructure, using their technology, processes and procedures. The important benefit: alleviating or postponing the manager’s need to hire additional employees.

Partial outsource – Management companies can choose specific tasks to outsource. For instance, outsourcing payroll adds a layer of confidentiality by limiting visibility of firm compensation. Outsourcing simultaneously reduces the workload on in-house resources.

Full outsource – Management companies can choose a turn-key solution to outsource the full range of operational responsibilities to an external provider. The firms benefit from proven expertise and technology supported by a rigorous control environment.

If your firm is experiencing exponential growth, or anticipates doing so, and you want to gain more insights into the benefits of outsourcing your management company functions, consult with a trusted service provider. At Ultimus LeverPoint, we have performed management company services for over a decade and offer a full suite of management company administration solutions. Our team works in a consultative manner with private equity CFOs, Controllers, and General Partners to implement the best operating model for each firm to ensure that your objectives and priorities are addressed. We’d be delighted to discuss your particular situation and help determine the best outsourcing model to fit your needs in order for you reap the most benefits.


12373475  03/08/2021


Alternative Fund Administration Trends Accelerated by the Pandemic and Work-from-Home Environment

One side effect of the COVID-19 pandemic has been to accelerate the adoption of nascent processes and technology. We’ve seen a transformation across industries, whether it’s the surge in online grocery shopping or the expansion of for-pay movie channels.

COVID-19 has similarly accelerated trends in the private fund world, as most firms, including Ultimus LeverPoint, moved to a remote working environment. We’ll assess three trends and their impact.

  1. Increased adoption of outsourced staffing by fund managers
  2. Improved communication and collaboration through Zoom and Microsoft Teams
  3. Increased emphasis and reliance on technology-based solutions

Outsourced Staffing as a Silver Bullet.

Fund managers have long used an outsourced staffing model to assist with fund administration. Some managers co-source while others fully outsource the functions. Still other managers have a fund administrator “lift out” their in-house administration staff.

At Ultimus LeverPoint, we’ve seen how the pandemic, coupled with the work-from-home environment, has accelerated the move to outsource fund administration, with staff illnesses and care-giving responsibilities added to the standard list of outsourcing drivers: resignations, maternity/paternity leave and a desire to shift administration costs to the fund.

We believe managers like the flexibility afforded by outsourcing, which allows them to avoid — or at least postpone — hiring and training replacements in a remote work environment.

Well-staffed fund administrators have the necessary skills and resources to perform outsourced services and be effective “Day 1.” We’ve found the most-commonly outsourced functions to include fund administration and management company services.

Outsourcing examples.

GP 1: The Assistant Controller of a private equity fund manager resigned in the middle of the pandemic. The manager was reluctant to hire and train a replacement in the remote environment. Instead, the manager chose to outsource the functions to Ultimus LeverPoint. Ultimus immediately assumed many of the Assistant Controller’s responsibilities, alleviating the burden on the fund manager.

GP 2:  A fund manager’s Vice President, Fund Accounting took a short-term leave of absence during the work-from-home environment. Knowing that the need was short-lived, the fund manager sought temporary assistance from a provider who required little-to-no training. At Ultimus LeverPoint, we were able to offer an experienced resource to work remotely with the manager’s internal team and step into the Vice President’s role. This short-term secondment offered tremendous benefit to the fund manager.

Videoconferencing is Here to Stay.

It is strange to remember that prior to widespread remote working, few of us were regular users of Zoom or Microsoft Teams. When it came to providing fund administration services to our clients, we did what most administrators did: we spoke with clients by phone, exchanged emails and periodically engaged in person. Fund administration was accepted as a service intended to be provided “remotely” to clients.

Yet with the accelerated, large-scale adoption of videoconferencing, we’ve found that our client relationships have become stronger. The use of video has allowed for high-value face-to-face interactions without the expense of travel. The ability to share screens has proven invaluable to resolve issues, while simultaneously enhancing relationships through more effective communication and collaboration.

Videoconferencing examples.

GP 3: Remote client onboarding.

During the work-from-home environment, Ultimus LeverPoint switched to Microsoft Teams to onboard clients. Our recent onboarding of a West Coast client eliminated travel, allowed for a faster, more efficient process and accelerated relationship building. The result: greater synergy between Ultimus LeverPoint and the client from the onset.

GP 4: Problem resolution via Teams.

In the remote work environment, we — like many around the world — have used the “share screen” function within Microsoft Teams to great effect. Our ability to walk through Excel workbooks on screen has resulted in more positive interactions and faster resolution times.

At Ultimus LeverPoint, we don’t envision a time when we’ll revert to the now-outdated client service model of phone calls and emails alone.


Faster Adoption of Technology.

The work-from-home environment has precipitated the adoption of various technologies by fund administrators, private fund managers and fund limited partners. Secure, desk-top and mobile-friendly solutions have become the norm.

Technology adoption examples.

GDPR-compliant electronic document signing.
Electronic document signing has been available for years. But the pandemic accelerated its use.  Limited partners and general partners can sign agreements from most locations using desk-top or mobile devices. As important, electronic document signing-technology routes documents, data, and signatures through back-end systems, accelerating approvals and moving assets. Scanners can go the way of the dinosaur.

Expanded portal capabilities.
Investor portals, too, have been used for many years, initially as a repository for documents and later as an interactive tool. But the trend now is toward greater transparency through on-demand reporting, and drill-down functionality. Fund managers want direct data feeds to enhance communications with investors and provide easy-to-use dynamic reporting.

Ultimus LeverPoint offers an enhanced client portal, through which fund managers and their investors directly access detailed fund and investor-level data and reporting on-demand.

All around us, we see how the pandemic and associated work-from-home environment has accelerated nascent trends. Within fund administration, specifically, we believe the remote work environment has hastened several positive movements that will have lasting impact. First, fund managers have seen the benefits of outsourcing administration-based tasks on a temporary or longer term basis. Second, the use of videoconferencing has enhanced, not harmed, relationships with clients. Third, technology has risen to fill the needs of fund managers and limited partners, no different than how apps have filled the need for online grocery shopping.

Learn more about how Ultimus LeverPoint can assist with your fund administration needs during the work-from-home environment and beyond.


12211007   02/18/2021


ILPA Guidance for Institutional Limited Partners…and the Implications for Private Markets Fund Managers

Institutional investors have long advocated for themselves with private markets fund managers, whether for reduced fees, increased transparency, custom reporting, or more favorable limited partnership agreements, to name a few. But this highly fragmented approach has proven inefficient — and undoubtedly frustrating — for LPs and GPs alike.

What is ILPA?

The Institutional Limited Partners Association, better known as ILPA, stepped in to unify the voices of institutional LPs, bringing them together for education, resources, and networking purposes, while providing cohesive guidance and best practices to advance LPs’ interests. ILPA publishes a variety of industry guidance for LPs and GPs, including Principles 3.0, model LPAs and fund reporting templates.

ILPA’s member entities include public and private pensions, endowments, foundations, family offices, insurance companies, sovereign wealth funds and other institutional investors. In aggregate, allocations from ILPA’s 500+ global institutions comprise about 50% of capital invested with private equity fund managers. ILPA’s members include over 5,000 professionals in 50+ countries.

Clearly ILPA’s membership represents a powerful voice. As such, private markets fund managers should be aware of — and prepared to follow — ILPA’s guiding principles for alignment of interest, governance and transparency.


What Institutional LPs Seek…and How GPs Can Prepare

In this introductory blog, we share ILPA’s guidance for what LPs seek and GPs should know in three areas related to fund administration:

  1. Detailed financial reporting
  2. Operational transparency
  3. Independence and governance


ILPA guidance for detailed financial reporting

One of ILPA’s foremost goals is to promote transparency and alignment of interests between LPs and GPs. ILPA also advocates for uniformity in disclosures to LPs.

In 2015, ILPA surveyed its members and found that more than half of the institutions had developed custom templates to capture fee and expense information beyond that provided in standard GP reporting packages. In response, ILPA launched an initiative to establish more robust guidelines for fee and expense reporting and compliance disclosures.

ILPA packaged the standardized guidelines in financial reporting templates, enhancing the templates and adding new ones over time. LPs benefit from increased transparency and consistent information across fund managers. GPs benefit from being able to provide standardized reports following the ILPA templates, thereby reducing the need for custom LP reports. A sampling of these standardized reporting templates includes:

  • Capital activity template: detailed capital call and distribution schedules
  • Fee income template: detailed schedule with fees, expenses, carried interest and reimbursements
  • Portfolio company template: details about each company, including invested capital and performance


ILPA guidance for operational transparency

In 2017, ILPA issued guidance for greater disclosures and clarity in partnership agreements regarding subscription lines of credit. But with inconsistencies remaining, ILPA in 2020 released additional guidance for quarterly and annual disclosures to provide LPs the necessary visibility to monitor the impact of subscription lines on both exposure and performance.

Levered and unlevered metrics. Because leverage is utilized by some managers, but not all, it is difficult to compare fund metrics across the industry. ILPA therefore provides specific guidance that fund managers report unlevered return metrics in addition to any levered metrics.

The following excerpt from ILPA guidance illustrates the effect on performance data of delaying the first capital call — by using a subscription line of credit.[1]

Year Transaction Type Cash Flows
(without line of credit)
Cash Flows
(with 1-year line of credit)
Cash Flows
(with 2-year line of credit)
1 Investment -100
Management Fees -2
2 Investment -100
Interest -4
Management Fees -2 -4
3 Investment -100
Interest -8
Management Fees -2 -2 -2
4 Management Fees -2 -2 -2
5 Management Fees -2 -2 -2
6 Management Fees -2 -2 -2
Realization 162 162 162
  IRR 6.62% 7.14% 7.98%
  TVPI 1.45x 1.40x 1.35x


Terms and costs of the line of credit. Lines of credit also impact investors’ cash management strategies, as required paydowns may lead to large, unexpected accumulated capital calls. To address this liquidity risk, ILPA also released guidance for transparency into the key terms and costs associated with subscription lines of credit.


ILPA guidance for independence and governance

Investors — specifically institutional investors — seek a layer of independence and governance at the fund manager when it comes to the reporting structure. Fund administrators provide this additional layer of independence, as well as reporting and operational guidance, to ensure investor reporting and economics are in line with governing documents.

Institutional investors know that fund managers who’ve incorporated ILPA best practices for reporting, including ILPA templates and performance metrics, are following the industry “gold standard.”


How Fund Administrators Assist with the Implementation of ILPA Best Practices

Implementing ILPA’s reporting templates can be complex, but the benefits are clear-cut for both investors and fund managers. By outsourcing fund administration, GPs can minimize the cost and effort of satisfying institutional investors’ ILPA reporting requirements.

Fund administrators have the software solutions and technology to automate ILPA templates across a manager’s LP base. Fund administrators also have extensive in-house experience with ILPA-recommended reporting standards and performance metrics. Plus, as noted above, institutional investors favor the independence of third-party fund administration over in-house solutions.

ILPA empowers institutional limited partners through a unified voice and standardized approach for requesting transparency and disclosures from private markets fund managers.

At Ultimus LeverPoint, we see first-hand the influence of ILPA guidelines on institutional investor requests. Fund managers increasingly are being asked to follow ILPA recommendations, specifically with respect to fund reporting. ILPA’s reporting guidance minimizes the need for custom investor reports. That’s a win-win for GPs and LPs alike.


11831725   01/12/2021


[1] ILPA website download: 2020 Guidance – Enhancing Transparency Around Subscription Lines of Credit


Strategic Benefits of Outsourcing Fund Administration

Making the decision to outsource Fund Administration services is one of the most important decisions that a Fund Manager can make; increasing time and efficiencies both for themselves and for their investors.

In recent years, outsourcing fund administration has become widely accepted as an industry standard. Traditionally, most Fund Managers opted to keep fund administration in-house. Yet, the growing volatility, uncertainty, and complexity of the fund world and investor expectations has made self-administration a mounting distraction. The increasing complexity of fund types and structures is taxing manager resources and expertise, while more sophisticated investors are driving the demand for independence and continued investments in technology, controls, and transparency. Outsourcing allows Fund Managers to focus on the people, process and technology needed to tackle the evolving financial reporting requirements and expectations of funds and their investors.

Strategic benefits of outsourcing: People, Process, Technology, Capacity to Focus.



Relationships and communication are the foundation for a successful Fund Administration partnership. Making the right Fund Administrator choice is essential. Cultural fit, technical ability and capacity are all critically important; a Fund Manager is not just partnering with a Fund Administrator, they are partnering with the human capital of the firm. The goal of a Fund Administration relationship is a long-term partnership that grows and flexes with a Fund Manager’s needs. Fund Administrators should be viewed as an extension of the Fund Manager’s team, a strategic partner, and a valued part of the business plan.



Limited Partners are growing in sophistication and requiring more of Fund Managers, notably tighter processes and controls. Many institutional investors require the Fund Manager to hire a Fund Administrator with industry accepted credentials. The most sought-after credential is the SSAE18 SOC 1 Type 2 Audit Report (System and Organization Control Report). The SOC 1 report confirms that a Fund Administrator has the proper controls and procedures in place to reduce risk when it comes to potential errors. Limited Partners also focus on both the Disaster Recovery and Cybersecurity Policies. The chosen Fund Administrator should have documented and tested Disaster Recovery and Cybersecurity Policies, as well as Business Continuity Plan, which lays out the process for continuous service and access to client data in the event of disruptive events.



In 2020, private equity firms are relying on robust technology products for accuracy and instant responses. Technology has both tangible and intangible benefits, which is why it is essential that all fund services are delivered through industry leading platforms.

Fund Administrators understand how crucial technology is to offering and maintaining reliability to their clients; having enhanced software and analytics specific to the alternative investment industry is paramount. Platforms such as Investran, eFront and VPM allow data to be tracked and maintained securely. Using a secure, sophisticated platform not only minimizes the risk that can be found using excel spreadsheets, it also allows for transparent and secure reporting. The data input and output are performed in a more controlled and reliable environment through these platforms. Access to state-of-the-art investor portals, allows Fund Administrators to store and distribute investor correspondence through a secure web-based platform. These portals allow access to online real-time data and reporting to Fund Managers, General Partners and Limited Partners. The cost to individual managers of investing in the right technology can be expensive and overwhelming. Partnering with a Fund Administrator who invests in these platforms allows Fund Managers access to advanced technology while avoiding much of the cost, process and time-commitment of in-house implementation and on-going maintenance.

Capacity to Focus


Outsourcing Fund Administration enables managers to focus on core responsibilities: deals and investment strategies. Managers who divert focus from portfolios and investments to manage the reporting requirements mandated by the LPA face an ever-increasing challenge. Choosing to outsource allows Fund Managers to focus on what they do best – investing. Outsourcing allows Fund Managers to focus on providing a maximum return on investments for their investors, concentrating resource and expertise in evaluating and making deals, investing and implementing unique investment strategies.

Making the decision to outsource Fund Administration services is one of the most astute decisions a Fund Manager can make; increasing efficiencies both for themselves and for their investors. As reporting demands grow, the need for transparency increases and the importance of the right Fund Administrator becomes more important. Engage with a Fund Administrator that focuses on People, Process and Technology. Reach out to Ultimus LeverPoint to discuss ways outsourcing makes sense for you. High quality service from our first-class technical professionals increases your capacity by removing the complexity of your day to day administrative burden. We are here to partner with you through providing boutique services with institutional strength.


11595667 12/8/2020


3 E’s: Best Practices for Engaging Clients

3 E's: Best Practices for Engaging Clients

During the past few months, we have all ridden an emotional rollercoaster, with ups, downs, loops and lots of adrenaline. Business continuity plans have proved essential and readiness to deploy, monitor and adapt have become the necessary norm. But this is also a time when client and prospect engagement is paramount to the sustainability and growth of your investment firm’s business.


Volatility Reminds Us to Hedge – There May Be a Better Way to Do That

Volatility Reminds Us to Hedge - there may be a better way to do that

Many investment managers and asset owners are struggling with a new reality and working to restructure portfolios, all while trying to shrug off a 10-year bull market euphoria-induced hangover.  For the last decade, it seemed like the U.S. equities market knew no limits, with active managers struggling to even come close to meeting their benchmarks. Allocations to alternatives became less of a concern with each passing stock market record. Strong economic fundamentals – record low unemployment, wage growth, strong housing markets – continued to boost certainty that the party was not ending anytime soon.


Spending Too Much Time Managing Data? Reevaluating Your Middle Office Environment

With the high volume and complexity of investment products and asset types in the current volatile and uncertain market, many asset managers may be spending too much time on middle office functions, while missing opportunities to improve client relationships and focus more on core business decision-making in today’s constantly changing industry.


Redefining Innovation: The Ongoing Creation of New Ideas That Generate Value for Clients

Redefining Innovation: The ongoing creation of new ideas that generate value for clients

In our latest installment of  #TALKtoUltimus, we interview Bill Hortz, Founder and Dean of the Institute for Innovation Development, and explore best practices for companies wanting to create a culture of innovation.

Many investment firms and managers use the words innovation and tech-driven as a brand promise. While there are many ways to define it, tech-driven means using proprietary technology to deliver something that is better, faster, and cheaper than if you do it yourself. According to Hortz, tech-driven means just using technology to do work more efficiently. But in his view, it’s not necessarily something that changes a culture. His hypothesis is that investment firms really want to have a reputation for being innovative (2.0), not tech-driven (1.0).


Best-in-Class Customer Service: The Intersection Between Strategy and Culture

Ultimus recently kicked off a new interview series entitled, #TALKtoUltimus. 

Below is an introduction to an interview leadership coaching expert, Tim Kight, Founder/CEO of Focus 3. In this podcast, Tim outlines what it means to be a client-centric organization, and the principles and leadership needed to help organizations deliver best-in-class customer service.

Many companies say they are best-in-class or client-centric organizations in their branding and mission statements, but there is a definite disconnect between those words and the reality of how they are translated down through the ranks to front-line employees interacting directly with clients.


Evaluating Your Legal Fund Administration: Best Value Tips to Consider

The fund administration industry is a complex world, and regulatory burdens seem to grow with each passing year. This specialized work can be daunting, even for larger investment firms that have internal legal departments. Investment professionals interested in outsourcing this work should consider letting legal fund administration professionals worry about the rules and regulations – so they can concentrate 100% on productivity goals and meeting the firm’s bottom-line.

For boutique investment firms, having skilled and knowledgeable partners are even more important so internal resources can be dedicated to clients and increasing the firm’s operational bottom line.

When it’s filing day and there is a last-minute question or an unusual situation develops, it’s critical that large and small investment firms can rely on a team of dedicated subject matter specialists.

Managing Current Trends

The trend over the last few years has been that larger service providers are outsourcing work to foreign countries to cut costs or eliminating that service altogether. So, it’s more important than ever for investment firms, managers and fund families to gauge the depth and experience of current legal fund administration resources to lower their cost of total ownership.

Reducing Workload

Whether you’re a boutique investment firm needing outside professions, or a larger investment group that’s looking to complement an internal department, a great legal fund administration team should help reduce the time internal resources are spending to complete legal tasks. A proficient outsourced team should have lawyers and paralegals with years of experience working on corporate governance and regulatory filing responsibilities. They should also be able to produce those deliverables more efficiently than current processes.

If you are considering making a change to the fund, your legal administrator should be able to outline the rules, highlight any common pitfalls, note areas that may need counsel’s input, explain the forms or paperwork that will be necessary, and then draft that paperwork and put it in front of your investment firm’s staff for review.

This type of service streamlines the entire process from beginning to end, and frees the firm from having to dig through a mountain of rules so they can then refocus on client-oriented and revenue-generating goals.

Does your current legal fund administration team just passively wait for the firm to provide direction, or expect the firm and your outside counsel to provide it with documents? Perhaps it’s time to consider whether current services are saving you any time or money at all. 

Best Value Differentiator

A time-tested way for investment firms to secure best value is making sure that legal fund administrators work hand-in-hand with the firm’s counsel. An outstanding legal fund administration team should be generating templates, drafts and other documents for every project a fund undertakes including contract forms, registration statements, and quarterly filings. They should also present a detailed, finished document to your fund’s counsel and internal executives for review, and be available to answer questions about the purpose and contents of those documents. It’s an important time-saver, and can help reduce the fund’s overall cost of ownership.

Additionally, if the firm handles legal administration internally or expects your counsel to provide documents for filing, a skilled legal fund administration team can narrow the scope of counsel’s role to that of review, rather than paying full associate or partner rates.

Another avenue of value-add that is less obvious, but just as important – the degree to which legal fund administration interfaces directly with the fund’s counsel. A full-service legal administrator with skilled, experienced attorneys on staff is able to minimize counsel’s time spent on operational emails and phone calls. What may have been an extensive phone call could be expedited when handled directly between subject matter specialists. If your current legal fund administrator wants your firm to handle communications with counsel, it might be time to consider whether this hidden cost is silently inflating operating expenses.

Deep Bench: Delivering Best Practices

Another often overlooked benefit of a skilled outsourced legal fund administration team is the deep level of dedicated professional experience that attorneys and paralegals have with the Investment Company Act of 1940 (’40 Act). Even the most experienced firm attorney may split time working on fund issues, mergers and acquisitions (M&A), and general securities work. But a dedicated outsourced legal administrator only works on fund issues, bringing a wealth of knowledge to the table on the nuts and bolts of daily operational requirements.

Further, a skilled, outsourced team works side-by-side with the fund’s accountants, compliance staff, and operations teams. Beyond being a simple repository of regulatory knowledge, a professional legal fund administration team combines an understanding of fund mechanics, with an appreciation of the actual practical effects of the rules and regulations. For example, the firm’s fund counsel may be able to tell whether a certain action is permissible, but a skilled legal administrator will know to warn about operational headaches that the otherwise permissible action may cost the firm – knowledge gained from actually working through those same headaches in the trenches.

Solving operational issues is key and where a skilled outsourced legal fund administration team provides real value. Does your firm’s current resource sit back and wait for direction or utilize expensive consultants to solve problems? If so, it might be time to make a change to find a resource that proactively listens to your firm’s needs, and offers workable, practical solutions based on years of subject matter expertise.