Fund Administration

Perennial offers a wide array of fund administration services to both domestic and offshore funds including Hedge Funds, Fund of Funds, Private Equity and Marketplace (P2P) Lending. From preparation of financial statements to detailed P&L reporting, our robust technology and highly experienced staff can support your fund’s needs. Fund administration services include:

Fund Administration & Accounting Services

  • Calculate the Fund’s NAV and related side-pockets
  • Calculate investor income allocations and capital accounts
  • Calculate management fees and incentive fees
  • Calculate of the fund’s performance statistics
  • Prepare GAAP/IFRS financial statements for the annual audit
  • Coordinate annual audit with the fund’s independent auditor

Portfolio Accounting

  • Independently verify price and corporate actions
  • Capture trades and track positions by tax lot
  • Reconcile transactions, positions, and cash
  • Customize reporting of securities positions and P&L
  • Full audit trail and detailed general ledger reporting
Investor Relations

Perennial’s investor relations services encompass all aspects of the investor experience from coordination and delivery of offering documents for prospective investors to issuance of investor capital statements. Our services include:

  • Coordinate the subscription document process with new and existing investors by delivering the fund’s welcome packet
  • Perform anti-money laundering (AML) and know your customer (KYC) procedures
  • Confirm subscriptions and send investor subscription confirmation letters
  • Process investor redemption requests and send investor redemption confirmation letters
  • Calculate, prepare, and distribute capital call and distribution notices
  • Prepare and distribute investor capital statements
FATCA Compliance

Perennial’s FATCA services ensure that our clients are in compliance with U.S. and Foreign FATCA regulations.  Our offering includes:

  • Register the fund with a Global Intermediary Identification Number (“GIIN”)
  • Prepare the applicable W-Forms
  • Assist with the Point of Contact (“POC”) delegation process
  • Assist with offshore jurisdiction registration
  • Prepare Form 8966
Banking Services

Perennial offers joint control (dual signatory) of the fund’s bank account and processing of cash disbursements. The complete service offering includes:

  • Coordinate the bank account opening process
  • Serve as a second signatory for the funds’ bank account
  • Review and approve invoices for payment
  • Process cash disbursements on behalf of the fund
  • Reconcile the bank account
Tax Solutions

One of the most unique aspects of Perennial is our ability to supplement our fund administration services with the delivery of comprehensive tax services for your investors, the investment manager, and the firm’s principals.  By serving as the Tax Advisor at all levels, Perennial substantially reduces the number of service providers required and can expedite the delivery of the Schedule K-1s to your investors. Our full tax solutions offering includes:

  • Prepare and file the fund’s partnership tax returns and investors’ Schedule K-1s
  • Prepare the management company’s tax returns
  • Prepare passive foreign investment company (PFIC) annual information statements
  • Prepare personal tax returns for the investment manager principals
  • Tax minimization planning and consulting
  • Provide IRS and State examination assistance
Investment Manager Solutions

In addition to providing comprehensive fund administration and tax services, Perennial offers solutions to investment managers which eliminate the cumbersome accounting and operational issues associated with the management company.  Our investment manager company accounting services include:

  • Prepare financial statements
  • Perform cash reconciliations
  • Process payroll through a third party payroll administrator
  • Assist in setting-up budget schedules
  • Coordinate Form 1099 filings