Operations Services

Shadow Accounting

Let us support your fund’s operational integrity. You focus on growth.

Streamlining the loan lifecycle.

Shadow accounting provides, transparency, risk mitigation, and independent verification, ensuring your fund’s financial operations are accurate, compliant, and reliable.

Digitizing manual processes.

By digitizing manual processes, our investment management outsourcing services improve operational flow, making your business more agile and efficient. This allows your team to shift focus from routine tasks to strategic initiatives that drive growth and innovation.

Shadow accounting managed services

General ledger and trial balance maintenance
  • Maintain a full internal general ledger at fund and investor levels

  • Generate trial balances in parallel with fund administrator books

  • Support multi-class, multi-series, and multi-currency structures

Daily/monthly NAV oversight
  • Independently calculate and verify daily/monthly NAVs

  • Review all administrator inputs (pricing, accruals, expenses)

  • Identify and resolve NAV discrepancies before final sign-off

Investor accounting and reporting
  • Maintain investor-level capital accounts and balances

  • Process subscriptions, redemptions, and transfers

  • Generate shadow investor statements, capital call notices, and allocations

Reconciliation with fund administrator
  • Independently calculate and verify daily/monthly NAVs

  • Review all administrator inputs (pricing, accruals, expenses)

  • Identify and resolve NAV discrepancies before final sign-off

Fee and waterfall calculations
  • Independently calculate management and performance fees

  • Track high-water marks, hurdle rates, and clawbacks

  • Model complex waterfalls for fund-of-funds or PE-style structures

Pricing and valuation support
  • Maintain independent price verification and valuation models

  • Work with third-party valuation agents and internal teams

  • Support Level II/III asset valuation, impairments, and adjustments

See all our operations outsourcing capabilities.

Fund Operations

Fund Operations

Private credit funds

Private credit funds

Private equity funds

Private equity funds

Shadow accounting

Shadow accounting

We take pride in our boutique client approach.

Schedule a call to discuss how we can energize your current Shadow accounting operations team.