Private Equity Administration Solutions

We maintain all the accounting records for the Private Equity Fund:

• Maintaining books and records along with all relevant supporting documentation.
• Preparation of quarterly, semi-annual and annual accounts in accordance with relevant Accounting Standards.
• Preparation of investor capital statements.
• Preparation of investor drawdown and distribution notices.
• Calculation and allocation of carried interest, management fees, preferred partner shares (PPS) and other accruals.
• Bank account setup, cash management and payment processing.
• Daily review of transactions and cash reconciliation, with liaison with banks and custodians to ensure accurate recording of fund operations.
• Preparation of audited statutory financial statements and returns.
• Waterfall and return calculations.
• Statutory filing and other regulatory services, including FATCA, CRS, AIFMD (Annex IV) and Depository Lite Services.
• Maintenance of books and records for Special Purpose Vehicles (SPVs).
• Preparation of consolidated annual and semi-annual financial statements, including supporting schedules.
• Management of audit and tax requirements.

Our team of fund administrators perform accurate and timely Net Asset Value (NAV) calculations, providing essential insights into the value of the Private Equity Fund. Our NAV accounting services include:

• Regular NAV calculations—daily, weekly, monthly, or quarterly, depending on the fund’s needs.
• Reconciliation of investment portfolios.
• Valuation of securities and other assets.
• Preparation of NAV reports for stakeholders.
• Compliance with relevant accounting standards and regulations.

Accurate cash and position reconciliations are crucial for maintaining the integrity of a Private Equity Fund’s financial reporting. We perform daily reconciliations between the fund’s records and external counterparties, mitigating risks and ensuring accurate financial data.

Performance fee calculations are critical for Private Equity Funds and we ensure these are computed with accuracy and transparency, strictly in line with the fund’s agreements. Our Private Equity accounting services include:

• Determination of performance-based fees.
• Compliance with fund agreements and industry standards.
• Preparation and verification of performance fee reports.
• Audit of performance fee calculations and reporting to fund managers and investors.

Our team manages the timely and accurate payment of fund expenses, overseeing the calculation and execution of all related payments in compliance with the Private Equity Fund’s agreements and regulatory requirements.

We provide comprehensive financial statement preparation services, ensuring that the Private Equity Fund’s financial reporting is accurate, timely and compliant with industry standards. This includes the preparation of audited and unaudited financial statements, as well as statutory financial statements and coordination with auditors.

Our ILPA reporting services ensure that Private Equity Funds meets the highest standards of transparency and governance. Our Private Equity reporting services include:

• Preparation of detailed ILPA-compliant reports, providing clear insights into fund performance, fees and carried interest.
• Customisation of reports to meet the specific requirements of LPs.
• Regular updates and distribution of ILPA reports to stakeholders.

Effective cash management is essential for the success of a Private Equity Fund. We offer a range of managed services designed to optimise cash flow management, including oversight of bank accounts and facilitation of cash movements.

Our management accounting services provide Private Equity Fund managers with vital insights into the financial health and performance of their funds. We prepare detailed management accounts, including budgets, forecasts and variance analysis, enabling informed decision-making and strategic planning for the Private Equity Fund.

Maintaining an accurate and up-to-date LP register is critical for compliance and investor relations. Our fund administration team manages the maintenance of LP records, ensuring all details are correctly documented and accessible, with regular updates to reflect any changes.

Our LP transaction services ensure the smooth processing of all investor-related activities, including capital calls, distributions and transfers. We manage all aspects of these transactions, ensuring transparency, accuracy and fund compliance.

We manage the entire process of capital calls and distributions, from calculation to communication with LPs, ensuring that all transactions are handled efficiently and in accordance with the Private Equity fund’s agreements.

Our private equity team ensures that all fees, including management fees and carried interest, are calculated accurately and transparently, in line with the terms of the fund agreements. We also manage the calculation and processing of any rebates to LPs.

Waystone Administration Solutions provides comprehensive AML and KYC services to ensure Private Equity Funds remains compliant with international regulations. Our services include:

• Thorough review of investor details, including source of wealth and Private Equity investment funds.
• Regular monitoring and screening of investors against global watchlists.
• Enhanced due diligence for high-risk investors, including politically exposed persons (PEPs).
• Ongoing compliance monitoring and reporting to relevant authorities.

Our Private Equity Fund sanction screening services ensure that all LPs and transactions are compliant with international sanctions. We conduct thorough screenings against global sanction lists and provide detailed reports on any potential risks.

We provide comprehensive monitoring of all LP transactions to detect and prevent any suspicious or unauthorised activities, ensuring the integrity and security of all investor activities.

Waystone ensures the timely and accurate publication of investor statements, providing LPs with detailed and transparent reports on their Private Equity investments. Statements are delivered securely through our digital reporting portal.

Our team manages the entire distribution process, ensuring that LPs receive their payments accurately and on time, in accordance with the Private Equity investment fund’s distribution policies.

We provide comprehensive UBO identification services to ensure full compliance with AML regulations. Our investor services include detailed review and verification of ownership structures to identify all UBOs and maintain up-to-date records.

We assist funds in meeting their FATCA and CRS reporting obligations, providing accurate and timely reports that meet the requirements of global tax authorities. Our services include the collection and validation of LP data, preparation of reports and submission to the relevant authorities.

We offer extensive regulatory reporting services, ensuring that the Private Equity Fund meets all reporting obligations in various jurisdictions. Our team is skilled in preparing a wide range of regulatory reports, including:

• Annex IV: Reporting required under the Alternative Investment Fund Managers Directive (AIFMD) in the European Union, which involves providing detailed information on the activities and financial positions of Alternative Investment Funds (AIFs) to regulators.
• Form PF: A filing required by the U.S. Securities and Exchange Commission (SEC) for private fund advisers, used to report information about the private funds they manage, primarily for assessing systemic risk.
• CBoI: Central Bank of Ireland reporting, which encompasses various regulatory returns and filings that funds domiciled in Ireland must submit to the Central Bank of Ireland.
• BCL: Banque Centrale du Luxembourg reporting, which includes regulatory filings required by funds and financial institutions operating in Luxembourg to ensure compliance with local regulations.
• CSSF: Commission de Surveillance du Secteur Financier reporting, which involves submitting regulatory reports to the financial regulator of Luxembourg, covering a range of compliance and financial information.
• MMIF: Money Market and Investment Funds reporting, a European regulatory requirement that involves providing detailed information on the activities and performance of money market funds and private investment funds.

Our team prepares these and other country-specific regulatory filings, ensuring the Private Equity Fund remains compliant and fully informed of its regulatory obligations across different jurisdictions.

Our experienced fund administration professionals serve as Money Laundering Reporting Officers (MLROs) for Private Equity Funds, overseeing all aspects of AML compliance. This includes monitoring transactions, investigating suspicious activities and reporting to the relevant authorities as required.

Our company secretary services are integral to maintaining the governance and compliance of Private Equity Funds. We provide dedicated company secretaries who manage all statutory requirements, ensure compliance with regulatory obligations and provide ongoing advice on corporate governance matters.

Waystone’s Administration Solutions offers comprehensive support services for General Partners (GPs), including assistance with governance, regulatory compliance and operational management. Our GP support services ensure that a Private Equity Fund operates smoothly and in full compliance with all legal and regulatory requirements.

We provide corporate and registered office services for Luxembourg, Ireland and Cayman Islands domiciled entities. Our registered office services include:

• Provision of a local mailing address and a mail forwarding service.
• Preparation and submission of annual returns to the Registrars.
• Maintenance of companies’ and partnerships’ records, ensuring they are accurate and up to date.
• Invoicing clients and payment of fees to the local authority, as well as filing documents with the Registrars.
• Certification, notarisation and legal review of documents to ensure they meet all regulatory standards.
• Obtaining tax exemption certificates and certificates of good standing.
• Preparation of Certificates of Incumbency, validating the company’s current status and structure.

Our domiciliation services are tailored to support Luxembourg, Ireland and Cayman Islands domiciled entities. These services include:

• Provision of a local mailing address and efficient mail forwarding services.
• Preparation and submission of annual returns to ensure compliance with local regulations.
• Maintenance of accurate records for companies and partnerships.
• Handling invoicing and payments to local authorities, including the filing of necessary documents.
• Certification, notarisation and legal review of critical documents.
• Obtaining necessary tax exemption certificates and certificates of good standing.
• Preparation of Certificates of Incumbency to confirm the company’s operational status.

Waystone offers professional director services to ensure that Private Equity Funds meets all governance and regulatory requirements. Our experienced directors provide oversight and strategic guidance, ensuring that the fund operates within the regulatory framework and aligns with best practices. Our Private Equity director services include:

• Serving on the board of directors, providing independent oversight.
• Ensuring compliance with corporate governance standards.
• Participating in board meetings and decision-making processes.
• Liaising with regulators and stakeholders to ensure transparency and accountability.

Drafting precise and legally sound corporate resolutions is essential for the proper governance of Private Equity Funds. Our corporate resolution drafting services for private funds include:

• Preparing and drafting resolutions for board approval, including changes to fund operations, governance and compliance matters.
• Ensuring that all resolutions are in compliance with legal and regulatory requirements.
• Coordinating with legal counsel and fund managers to ensure the resolutions accurately reflect the board’s decisions and intentions.
• Maintaining records of all resolutions and ensuring they are properly executed and filed as required.

Setting up a Private Equity Fund requires careful planning and execution. Waystone’s experienced Administration Solutions team provides end-to-end support for Private Equity Fund launches, ensuring that all legal, regulatory and operational requirements are met. We work closely with Private Equity Fund Managers to ensure a smooth and efficient transition, allowing them to focus on the investment strategy.

Our tax assistance services provide detailed support for the preparation of tax returns and reporting, including U.S. tax (PFIC and K-1s), UK tax (Fund Reporting Status) and other international tax requirements. We assist in the preparation of granular profit and loss allocations at the investor level and coordinate the distribution of tax documents to investors.