Third-party real estate Fund Administration continues to flourish; an increasing number of real estate fund administrators are choosing to outsource their back-office activities to firms like Ultimus LeverPoint. We provide the institutional-like quality and infrastructure that investors have grown to rely upon, but with a boutique approach. By outsourcing these Real Estate Fund services to Ultimus LeverPoint, fund managers benefit from reduced costs and risk, increased efficiency and optimized fund operations.
- Review and interpretation of partnership agreements
- Maintain General ledger
- Calculating and recording all capital calls
- Calculate distribution amounts
- Calculate management fee
- Create and maintain waterfall models; realized and unrealized
- Preparation of cash disbursements and receipts
- Record unrealized gains/losses on investments
- Prepare carried interest calculations
- Calculation of Fund IRR
- Assistance and coordination of annual audits
- Supporting Work papers
- Financial statements
- Capital account schedules
- Coordinate the set-up of bank accounts
- Administer online banking portals
- Ability to work with multiple financial institutions
- Review wires and checks as directed for all cash movements of the Fund and related entities
- Preform OFAC procedures for all wires prepared prior to execution
- Track receipt of capital calls from investors and proceeds from investments
- Report cash activity and balances in an agreed upon time frame
- Reconcile all bank accounts and provide activity reports on a monthly basis
- Distribution of partnership correspondence:
- Capital call notices
- Distribution notices
- Quarterly report updates
- Financial statements
- Capital account schedules
- K-1s and other tax reporting
- General correspondence
- Maintain database of Limited Partner information
- Contacts
- Addresses
- Wire information
- Supporting Work papers
- Financial statements
- Capital account schedules
- Capital contributions
- Distributions
- Income and expense allocations
- Management fee allocations
- Realized and unrealized carried interest
- Remaining Commitment