© 2017 North Street Global Fund Services, LLC.  All rights reserved.



Independence, Integrity, Ingenuity
FUND ADMINISTRATION


North Street's comprehensive services cover the entire administrative, accounting and financial reporting needs of your Fund, Management Company, General Partner, and related transactional entities.  For Investors, our services cover the entire spectrum of alternative asset record-keeping, analysis, and performance measurement reporting.   All of our services are tailored to be fully responsive to your organization’s specific needs and complexity.  

Middle and Back Office:

At North Street Global Fund Services, we support many post trade activities. After the execution of a transaction, we can provide many functionalities in a controlled and automated environment, including settlement, reconciliations and financial reporting, which will help managers stay focused on increasing alpha while we stay focused on supporting the business. Examples of the types of services we offer are as follows:

  • Daily P&L reporting, comparison, and analysis
  • Daily NAV calculations
  • Inventory Management and Maintenance
  • Trade bookings and reconciliations
  • Corporate Actions processing
  • Data Integrity
  • Electronic confirmation matching
  • Market Price Conformity
  • Mark-To-Market statements
  • Data scrubbing
  • All types of reconciliation

Fund/Partnership Accounting & Financial Reporting:

North Street Global Fund Services offers customized accounting solutions for your fund. Different types of reports can be generated based on the fund structure or the preference of the manager upon request. For most of our clients, Fund /Partnership Accounting Services include the following:

  • Monthly/Quarterly preparation of Fund’s financial statements, including Balance Sheets, Income Statements, Partners’ Capital Allocation Schedules, and Fund Performance Schedules
  • Monthly/Quarterly preparation of Investor Statements
  • Record expenses and capital transactions in accordance with US GAAP (including accruals, subscriptions and redemptions)
  • Reconcile cash accounts with statements provided by prime brokers or custodians
  • Maintain a record of each investor’s capital balance and allocate profits and losses in accordance with the most current limited partnership agreement (or equivalent) provided by the Fund
  • Calculate management fee and incentive allocation/carried interest based on the Fund’s governing documents
  • Liaise with the Fund’s tax advisor and independent auditors, and provide accounting records to assist in the preparation of the Fund’s annual income tax returns and annual audit.
  • Fund investment capital calls and collect investment distributions
  • Provide capital call and distribution notices to investors
  • Waterfall Calculations
  • Valuation Assistance
  • Monitor liquidity needs
  • Issue periodic capital calls to investors
  • Process distributions to investors
  • Prepare ad hoc reports on an as-needed basis

Management Company Accounting:

In addition to our fund administration services, North Street Global Fund Services can also assist you with the accounting for the management company entity including:

  • Manage financial software/general ledger packages
  • Preparation of monthly balance sheets and income statements
  • Processing of payroll for employees
  • Processing the income and expense accruals in compliance with Management Company’s operating agreement and in accordance with US GAAP
  • Monthly reconciliation of cash accounts
  • Pay invoices and collect receivables
  • Maintain banking relationships
  • Budget Analysis
  • Establishment of Internal Control Systems