Private Equity Funds

Private equity fund administration has seen a revolution over the last decade.

Historically, private equity did not require an outside administrator. However, more and more private equity funds today are migrating to the utilization of a third party fund administrator as administration services evolve and expand, technology becomes more developed and client service standards are raised.

The Gemini Companies understands the complexities and the level of customization involved with private equity structures. We do not believe that private equity funds fit into a box; rather, we understand the need for a sophisticated and flexible technology solution. Our private equity platform combines private equity functionality with a comprehensive partnership accounting system to handle real world demand, making us a complete solution provider. We offer services to support a firm’s finite life cycles, closed-end structures, limited partnership structures and investments in alternative asset portfolios.

Our dedicated client service teams become an extension of our clients’ own operational teams. Each client receives a dedicated team to provide service, from transaction capture to valuation and reporting, financial reporting and investor servicing. Our operational processes and controls are SOC1 certified and have been honed to a level of excellence.

Private Equity Services

Fund Administration
  • Maintenance of official books and records
  • Computation of fees and accruals (including management fee and carried interest)
  • Calculation of preferred return and complex distribution waterfalls
  • Reconciliation of cash
  • Providing of accounting-related reports to the investment manager
  • Maintenance of capital accounts
  • Multi-currency capabilities
  • Financial reporting
  • Distribution of capital calls
Investor Services
  • Maintenance of capital commitment balances
  • Calculation of capital call per investor amounts
  • Preparation and distribution of capital call letters
  • Recording of capital calls in partnership accounting system
  • Maintenance of all investor records
  • Communication with investors and the fund’s third parties
  • Processing of capital activities (commitments, capital calls, distributions, drawdowns and transfers)
  • Enablement of web reporting for investors
  • Preparation and issuance of investor capital call and distribution notices
  • Reporting services, including dissemination of newsletters, NAVs and holding statements
  • Investor identity verification in accordance with AML procedures
  • Treasury/cash management
  • Preparation of investor due diligence questionnaires
  • Investor identify verification in accordance with OFAC and AML procedures
Capital Calls & Capital Distributions
  • Recording and maintenance of capital commitment balances
  • Calculation of capital call and capital distributions per investor amounts
  • Preparation and distribution of capital call and capital distribution letters
  • Recording of capital calls and capital distributions in partnership accounting system
  • A single platform supporting all asset classes
  • 24/7 access to complete accounting, portfolio, risk and investor data
  • Interactive data visualization
  • Customization with drill down capabilities to the lowest levels in near real-time
  • Automated state-of-the-art private equity software with the ability to:
    • Calculate intricate waterfalls with the ability to track special distribution schedules
    • Track capital and allocate profit and loss calculations on a deal by deal and lot by lot basis
    • Keep tabs on actual and prospective transactions, including liquidity gates and ad hoc estimates at the fund or investor level
    • Automate and customize call and distribution letters
    • Support private equity fund of fund reporting
Blue Sky Services
  • Perform exhaustive research to provide insight into specific state requirements
  • Determine possible exemptions
  • Complete filings and ongoing maintenance