|
Cortland offers a comprehensive fund administration solution to investment managers
including dedicated practice groups for Private Equity & Real Estate Funds, Alternative
or Hedge Funds,
Mutual Funds,
and Commodity Pools
and Proprietary Trading Funds.
Please call or email Cortland for a full product overview and brochure:
Private Equity & Real Estate Fund
Administration Services
Private equity and real estate fund administration requires specialized knowledge
and systems unique to the asset class. Cortland is a firm built to service real
estate clients like yourself. Our seasoned team of dedicated professionals offers
private equity and real estate managers a comprehensive, competitively-priced fund
administration solution. Cortland provides your investors with the comfort of an
experienced third-party administrator with a SSAE 16 / SOC 1 Type 2 certification.
From pooled funds to separate accounts and one-off deals, Cortland’s in-house, complete
solution is tailored to each firm’s investing approach and needs, allowing you to
focus on your core business.
Covering Each Step of The Real Estate Investment Life-Cycle
- Administrative support
during your capital raise (PPM distribution and tracking, investor KYC, and subscription
management).
- Closing administration including rebalancings and investor interest payments associated
with subsequent rounds.
- GIPS-compliant reporting at the investor, fund, subsidiary, joint venture, and property
level for each stage of the life-cycle.
- IRR calculations at the investor, fund, JV, and asset level. Multi-tier waterfall
calculations at the investor, fund, JV, and asset level.
- Reporting on a tax-basis, cost-basis, and fair-value basis.
- Audit and tax support, including drafting of financial statements.
A Thorough Understanding of Real Estate Investment Structures
Real estate investing often requires complex fund and venture structures to best
address the tax and regulatory considerations of your investors and investments.
Cortland has the systems and experienced team required to handle:
- Private Equity Funds
- Joint-Ventures and Co-Investments
- Separate Accounts
- Parallel Funds
- REITs and Blocker REITs
- Onshore & Offshore
Feeders
- Alternative Investment Vehicles
- Specialty Finance Companies
- Trusts & Securitizations
back to top
Hedge Fund Administration Services
Cortland offers a comprehensive fund administration solution to credit funds, proprietary
trading, and alternative investment managers. Our combination of fund accounting
and middle-office asset servicing expertise creates a turn-key solution for new
funds focused on managed futures, equities, bank debt, real estate, structured finance
securities, distressed debt, tax liens, fund-of-funds, and other instruments and
strategies. We perform the following functions on behalf of the Fund or Manager:
- Experts in supporting Sec 3(c)(1) and 3(c)(7) fund structures
- Fund accounting including preparation of P&L and estimated daily and periodic official
Net Asset Valuations (NAV)
- Financial reporting including preparation of fund financial statements with audit
and footnote support
- Investor servicing and accounting including management fee calculations and record
keeping of subscriptions and redemptions
- Shareholder services including AML/KYC compliance, registrar and transfer agency
services
- Investor communications and investor reporting preparation, distribution, and archiving
- Integrated management performance fee calculation, monitoring and tracking
- Integrated tracking of capital contributions and withdrawals, partnership and new
issue allocation
- Prime brokerage data ‘pipe’ connections for streamlined reconciliation
- Connected pricing interfaces for efficient valuation calculations
- Performance measurement analytics and reporting
- Third-party compliance analytics for financing agents, regulatory bodies, and fund
management compliance groups
- Full audit coordination and support
- ERISA compliance monitoring
- Tax Support - State and Federal tax filing requirements, integrated service for
tax preparation 1065 and K-1s
back to top
Mutual Fund Series Trust Services
Cortland is focused on investment managers interested in forming a Series Trust
under the SEC 1940 Act. Utilizing our seasoned team of professionals, we offer investment
managers a complete, competitive and professional formation and SEC registration
facility to launch and operate a mutual fund. The fund formation services include
- Trust and custody bank account solution
- Formation of series trust, preparation of fund governance docs
- Preparation of initial fund company audit
- Drafting of fund offering memorandum, prospectus
- Preparation and submission of SEC registration /licensing apps
- Registration of Foreign Investment Company for futures trading
Benefits of starting your mutual fund in a Series Trust with Cortland:
- Reduced legal expenses for creating the fund
- Shared common operating expenses
- Reduced Blue Sky registration fees
- Shared directors, officers coverage, E & O coverage
- Board of Trustees and service providers are included
- Operational efficiency through our management of corporate, board and regulatory
governance
- Economies of scale through reduced auditor, fund counsel, trustee, insurance and
registration expenses
- Compliance and proper independent board oversight
- Assistance in listings on distribution platforms
- Ticker Symbol assigned at the launch of the fund
Advantages of the Cortland approach:
You are free to manage your portfolio and as a result, focus on fund performance
and shareholder returns. Plus, you gain an instant Board of Directors and Fund Counsel,
along with some potential cost savings.
Ability to attract extremely qualified board members that possess the expertise
to provide proper Board compliance and oversight.
Reduction in operating costs as expenses are now shared by a group of advisors –
these include reduced auditor, fund counsel, insurance, legal, trustee, blue sky,
and other expenses.
back to top
Separately Managed Account Services
Cortland is uniquely qualified to provide a turn-key platform of systems and professionals
to cover all asset administration, calculation, portfolio analytics, fund administration
and reporting necessary to administer a managed account. Cortland will provide seamless
custody bank functions through our strategic relationship with a leading custodial
bank or reconcile directly with the custody bank of the investor or financing agent.
This combination of quality, time-to-market, cost, and security provides managers
appointed on separately managed accounts an immediate, efficient and superior advantage
in serving their investors.
For each managed account appointment, a single agreement between the asset manager,
Cortland and the custody bank governs the administration of the account. All funds
and securities movement activities are executed by the bank upon receipt of instructions
provided by authorized representatives of the client, which have been reviewed,
reconciled and transmitted by Cortland. Cortland acts as the single point of contact
for the asset manager, eliminating time-consuming administrative tasks for you and
your team. We offer:
- DDA, trust and custody bank account solutions
- Daily position, P&L and transaction reporting solutions
- Targeted analytics and investor reporting solutions
- Fund accounting, valuation, NAV and financial reporting and audit preparation solutions
back to top
Offshore Fund Formation
Cortland is positioned to service fund managers in the formation of both onshore
and offshore investments funds. Utilizing our office relationships in the British
Virgin Islands (BVI) and the Cayman Islands, we offer a complete, competitive and
professional formation and licensing facility using independent experts to perform
legal and accounting services tailored to the needs of each fund client. The fund
formation services include:
- DDA, trust, and custody bank account solutions
- Formation of the fund company and preparation of fund governance documents
- Preparation of initial fund company audit and drafting of fund offering memorandum
- Preparation and submission of NFA and SEC registration and licensing applications
- Drafting of management and advisory agreements
- For offshore funds - Drafting of memorandum and articles of association
back to top
|
|