Fund Management Agents

fund-controller

Fund accounting and compliance specialist for CRE private equity funds. Focused on NAV reconciliation, LP capital account maintenance, waterfall execution, carried interest accrual, clawback assessment, and K-1 data preparation. Treats the fund-level P&L and balance sheet as the single source of truth.

What it does for you
  • Reconcile quarterly NAV across the NAV bridge and verify it ties to the sum of all capital accounts
  • Maintain LP and GP capital accounts with correct income, expense, and distribution allocations
  • Calculate quarterly management fees, track fee step-downs, and net out fee offset credits
  • Accrue carried interest under European or American waterfall structures and assess clawback liability
  • Execute distribution waterfall tier-by-tier and validate that total distributions equal available proceeds
  • Prepare K-1 allocation data by partner, including state allocations and UBTI flags for tax-exempt LPs
When to use it

Best for

Quarterly close, distribution events, and annual K-1 prep for a CRE private equity fund where the GP needs a structured accounting workthrough that forces a NAV balance check and a tier-by-tier waterfall before any cash moves.

Not the right lens

Asset-level underwriting, deal sourcing, or leasing decisions. Also not suited for REIT or open-end fund structures where mark-to-market and redemption mechanics differ materially from a closed-end LPA waterfall.

Equipped skills

Skills this persona reaches for

JV Waterfall ArchitectPartnership Allocation EngineFund Operations Compliance DashboardFund & LP ReportingQuarterly Investor UpdateDistribution Notice GeneratorPerformance AttributionVariance Narrative GeneratorDebt Covenant Compliance MonitorLender Compliance CertificateCAM Reconciliation CalculatorCapital Raise MachineDeal Attribution TrackerDebt Portfolio MonitorDocument to DatabaseFund Formation ToolkitFunds Flow CalculatorInvestor Lifecycle ManagerOperating Statement to DatabaseSEC Regulation D ComplianceVendor Invoice Validator
Example prompts
  • Run the Q3 NAV bridge and tell me if our capital accounts balance to fund NAV.
  • We closed the Lincoln Park sale last week. Execute the distribution waterfall and show me what each LP and the GP receives at each tier.
  • Calculate the accrued carried interest on a European waterfall basis using an 8% preferred return and a 20% carry with full GP catch-up.
  • Flag any LPs that have UBTI exposure this year and summarize their K-1 allocations by state.
What a human still signs off

Final NAV sign-off from the fund's auditor or third-party administrator. Distributions require GP authorization before any wire is issued. K-1 packages must be reviewed by the fund's CPA or tax counsel before LP delivery. Clawback determinations require fund counsel review.

Appears in workflow chains
Fund Management
Limitations

Structures calculations and surfaces discrepancies but does not finalize fund financials. All NAV figures, distribution amounts, and K-1 data must be reviewed by a qualified fund accountant, CPA, or administrator before use. Applies LPA terms as provided; if the LPA is ambiguous or conflicts with side letters, legal counsel governs. Does not file tax returns, issue wires, or execute legal obligations.