Private Equity Funds Overview

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We provide a high touch fund administration outsourcing solution to private equity funds including buyout, venture, real estate and hybrid structures. We understand the specialized nature of the private equity industry and we are committed to hiring qualified and highly experienced staff to ensure that we have the necessary expertise to give our private equity clients the highest level of service.

Our primary technology platform, PFS-Paxus has the accounting and investor services functionality necessary for efficient processing of private equity structures which is in turn fully integrated with our online investment manager and investor services reporting platform.

Combining some of the most experienced staff in the industry with a fully integrated technology platform and a client first approach,  allows IKONIC to deliver a high value added, yet cost effective,  private equity administration outsourcing solution to funds and investors.

Please explore our service offerings for Private Equity Funds below:

Pre-Launch Services

Our team has extensive experience working with managers who are launching funds in various jurisdictions around the globe. We provide an in-depth review of the current offering documents and will offer guidance from an administrative, accounting and corporate governance viewpoint. Our pre-launch services include:

  • Liaise with onshore and offshore legal counsel
  • Review of offering memoranda and constitutive documents and consultation on fund structures from an operational perspective
  • Advise on fund structuring and carried interest provisions
  • Coordinate business implementation, company secretarial, operations and the client’s legal counsel for finalization of all fund administration documentation, board resolutions and agreements
  • Coordinate the investor take on process and manage subsequent close process
  • Coordinate any necessary regulatory filing requirements
  • Introductions to custodians, lawyers, audit firms and independent directors, if requested
  • Development of operational procedures and workflow
  • Establish,  set up and manage fund bank accounts
  • Develop fund and investor reporting packages

Private Equity Accounting

Our accounting services for Private Equity Funds include the following:

  • Maintain all financial accounting records
  • Prepare quarterly and year-end fund financial statements
  • Calculate and prepare call and distribution notices
  • Provide support in the investment valuation and documentation process
  • Reconcile portfolio positions, activity and cash with bank, custodians, counterparties or deal documents
  • Model and manage carry distributions
  • Calculate and pay management fees
  • Prepare partner capital accounts
  • Manage the annual audit process
  • Produce data for tax preparation
  • Calculate IRRs and other performance metrics
  • Payment of all fund expenses

Investor Services

Our Investor Services offering includes but is not limited to the following:

  • Maintain the investor records and respective share and partnership registers
  • Process calls and distributions including cash monitoring
  • Produce and distribute quarterly and annual reports to investors as required
  • Distribute Investment Management Reports to Investors as and when required
  • Handle investor queries as required
  • Report to the GP as required

Cash Administration

IKONIC Fund Services offers cash management solutions through JP Morgan and Wintrust. IKONIC Fund Services Ltd. has established a banking platform with these institutions in order to facilitate the opening of multi currency bank accounts and treasury services for fund clients.

  • Establish and maintain bank accounts through JP Morgan’s or Wintrust's Bank Account Platforms for alternative fund managers
  • Disburse payments of approved third party fees and expenses incurred by the Fund
  • Facilitate the payment of duly authorized redemptions
  • Facilitate the transfer of subscription monies to the Fund’s accounts with its prime broker/custodian

Anti Money Laundering / Know Your Customer

Manage investor due diligence: anti-money laundering (AML) and USA PATRIOT Act compliance (KYC) review

  • Verify that Investor’s funds are remitted from a Financial Action Task Force (“FATF”) recognized bank and if a redemption request is made, that the funds are sent back to the wire instructions on file.
  • Utilize World-Check© to run investor names and associated parties through a database that checks names against different anti-terrorism government lists.

Our processes also include ensuring that our staff is current on the latest AML / KYC laws and ensuring that our policies and procedures are current.

Corporate Secretarial Services

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IKONIC Fund Services has three employees dedicated to the provision of corporate secretarial and regulatory compliance services with over 40 years combined experience with providing corporate secretarial services to funds, companies, partnerships and unit trusts (Investment Vehicles) that are domiciled in Bermuda, Cayman Islands, and The British Virgin Islands. Our team understands the time constraints and documentation required in carrying out intricate fund transactions as well as completing regulatory requirements for funds and companies in various jurisdictions. They are able to effectively and efficiently coordinate with directors, officers and other parties to ensure the timely and accurate completion of regulatory and corporate deliverables related to the fund transactions are accomplished. Services include the following:

  • Liaise with legal counsel on creation/amendment of constitutional and offering documents
  • Comply with all legislative and regulatory requirements including the requirements of any stock exchange
  • Organize and attend meetings with the Board of Directors by preparing meeting notice and agenda, distribute meeting materials, record decisions, prepare and finalize minutes of meeting
  • Organize and attend shareholder meetings to ensure approval requirements are met, record decisions, prepare and finalize minutes of meetings
  • Prepare written resolutions for specific transactions and coordinate the execution
  • Organize regulatory filings and the payment of government and other domiciliary fees
  • Provide the Registered Office for Bermuda and Cayman funds
  • Provide an individual or corporate entity to act as company secretary, segregated account representative and director
  • Maintain minute books & corporate records
  • Advise on best corporate governance practices

IKONIC Fund Services Corporate Secretarial Group uses the best of breed technology to ensure the accurate management and administration of the Investment Vehicles we service. Our corporate database is ViewPoint which was founded in 1994 and is the world’s leading software in the management of different entity structures. It is currently used in over 40 jurisdictions and relied on by over 5,000 users. ViewPoint’s Administrator module assists our team in organizing key attributes and events for servicing our Investment Vehicles including, but not limited to:

  • Registered office & statutory addresses
  • Annual return details & dates
  • Memorandum & Articles/ Bye-Laws details
  • Change of name details
  • Business registration details
  • Directors – min required, max allowed
  • Share registration and ownership analysis
  • Statutory officers and general relationships

Financial Statements

Our experienced team of qualified and experienced accountants will prepare financial statements, including the financial highlights that comply with the stated accounting standards of the respective investment vehicle.

  • Prepares financial statements including relevant note disclosures under GAAP or IFRS accounting standards
  • Assist in the audit process by preparing and submitting accounting records and supporting schedules to auditors

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Global Sales 1-704-927-1860

Bermuda 1-441-295-8282 | Charlotte 1-704-927-1859 | New York 1-646-801-5640 | Cayman 1-345-945-0982

Licensed by the Bermuda Monetary Authority under the Investment Funds Act 2006