Back-office Consulting
Even with the best, easiest-to-use software on the market, there's just no getting around it – partnership and shareholder fund accounting is complex.
If your hedge fund, private equity fund, family office, or investment management company is converting to a new accounting system, or grappling with staffing shortages, our back-office hedge fund accounting experts are ready to help.
We can convert data, set-up funds and accounts, handle reconciliations, help establish best practice operational procedures, perform business process reviews, and keep your accounting records current.
Administrator Shadowing
If month-end processing is keeping you up nights struggling to get accurate information to your investors in a timely fashion, we can help.
Because administrators communicate directly with investors, mistakes are not an option. We employ a cadre of experienced hedge fund CFOs, CPAs, and fund accountants who can mirror the administrator to provide a double-check on results, allocations, and fee calculations — ensuring accurate reconciliation and reporting.
While we are not a fund administrator, the Penny–SOS group “administrator oversight” services – including on-site consulting and remote data management and accounting – can give you peace of mind without adding headcount.
Short-Term or Ongoing Services
There is no long term commitment – we are happy to help with peak periods, such as month-end closings or during tax season; or we can provide ongoing staffing as needed to supplement internal resources.
In-Depth Industry Expertise
Penny–SOS is a life saver for overtaxed back-office fund
accounting groups
The Penny–SOS consulting staff possess in-depth knowledge of the ins-and-outs of alternative investment accounting, including: clawbacks, side-pockets, complex incentive fees, waterfalls, performance calculations, layers, master-feeders, commitments, capital calls, and distributions.
Our team has experience not only with the full feature set of Penny®, but also knowledge of the intricacies in offshore and onshore accounting for hedge funds, private equity, fund-of-funds, and investment management companies.
Our Experts Can Provide Support For:
- data migration from legacy systems or spreadsheets
- customization of reports or investor statements
- ongoing accounting data entry and maintenance
- reprocessing past months
- on-boarding new funds or clients
- system integration, including feeds and exports
- reconciling differences between systems
- process, procedure, controls, and workflow analysis
- month or quarter-end processing and client reporting
Turn-Key Solution
For start-up funds or smaller firms that prefer not to host and run the system themselves, we provide an option for jump-starting your in-house back-office. Our experienced fund accountants can run your system on our servers at a fraction of the cost of building out an in-house team.
Get in Touch
Give us a call at (914) 358-0016 or shoot us an email to get the conversation started on how we can help.
Download the Penny–SOS brochure (PDF).
