Private Equity

Fund accounting, administration and operational support built for private equity

Private equity plays a vital role in building businesses and creating long-term value. As the market becomes more selective, managers and fund administrators need reporting, controls and operational support that can keep pace with complexity.

Project Accountants provides fund accounting, administration and operational finance support for private equity managers and the fund administrators who service them. We align with your operating model, governance processes and control framework to keep reporting accurate, controlled and audit-ready across complex, multi-entity structures.

People-Led

Experienced professionals supporting your fund accounting, administration and operational finance requirements throughout the fund lifecycle.

The landscape today

Private equity is at a turning point. Valuations are fluctuating and competition for quality assets is fiercer than ever, while AI, technology integration, and sustainability are reshaping how portfolio companies create value. Regulatory and tax change is adding further complexity, and the funds that succeed will be the ones that move fast, spotting opportunities early and staying ahead of disruption.

Valuations require robust oversight

Valuation processes rely on timely portfolio data, consistently applied methodologies, documented judgements and appropriate review.

Technology is reshaping value creation

AI adoption and deeper technology integration are becoming central to how portfolio companies compete and grow.

Sustainability is now core strategy

ESG and sustainability considerations are shaping investment decisions and long-term portfolio value, not sitting alongside them.

Regulatory and tax complexity is growing

Evolving requirements are adding new layers of complexity across fund and portfolio structures.

The challenge is clear: creating value in a fast-moving environment with rising expectations. Success demands sharper insight, greater agility, and finance, administration and compliance capabilities built to keep pace with what comes next.

The private equity fund LIfecycle

Private equity firms raise capital from institutional and private investors to acquire, grow, and eventually exit stakes in private companies, typically over a three-to-seven-year hold. Strategies span venture and growth equity through to leveraged buyouts, with value built on operational improvement and disciplined capital structuring, delivered through master feeder funds, SPVs, co-invest vehicles, and multi-entity platforms. We support this journey at every stage, from raise to exit.

Stage 1

Fund Structure Set-up

Capital commitments secured from LPs; fund and GP structures established.

Our role: Fund and entity setup, governance documentation, and ledger setup from day one.

Stage 2

Capital Called and Investment

Capital called and deployed, with SPVs and co-investment vehicles established deal by deal.

Our role: Capital call calculations, drawdown notices, Compliance support and accounting for new vehicles as they're stood up.

Stage 3

Manage

Ongoing operations, investor reporting, and portfolio oversight throughout the hold period.

Our role: Fund accounting, financial reporting, compliance support, and day to day fund administration kept current, controlled, and audit ready.

Stage 4

Exit

Distributions, waterfall calculations, and final reporting closed out cleanly.

Our role: Distribution and carried interest calculations, plus final reporting through to close.

Where we work in the structure

Most private equity structures share the same core layers, with the fund administrator working alongside them. We step in wherever support is needed, across the manager, the administrator, or both.

Private Equity Managers

We act as an extension of your in-house finance function, with fund accounting, reporting, and administration delivered inside your own systems, whether you need end-to-end delivery or extra capacity during peak periods.

Fund Administrators

We work alongside fund administrators supporting private equity funds, providing additional capacity across fund accounting, administration, and day-to-day operations, while your business retains full oversight and control throughout.

Click any layer below to see where we plug in.

Investors (LPs)

Feeder Fund

Master Fund GP Entity

SPV / Co-Invest Vehicle

Portfolio Companies

Master Fund

Consolidated financial statements, capital call and distribution calculations, and carried interest and waterfall allocations, alongside the fund administration and compliance support the master fund needs.

Fund Accounting Fund Administration Support Compliance Support

Need private equity fund finance support that understands your structures, reporting requirements, and operating model from day one?

Let's talk private equity

Deals move quickly. So do we. Whether it’s a transaction, reporting deadline, portfolio requirement or a gap in your operating model, we can step in where you need us.

FAQs

Do you support private equity, venture capital, and private credit managers?

Yes. Our team supports private equity, venture capital, real assets, and credit funds across master feeder structures, SPVs, co-invest vehicles, LP structures, and GP entities.

How do you integrate with our existing systems?

We work within your existing systems and control framework, including eFront, Investran, NavOne, and Yardi, rather than asking you to adopt ours.

Can you support complex, multi-entity structures?

Yes, master feeder funds, SPVs, co-invest vehicles, and multi-entity platforms sit at the core of our day-to-day work.

Are you a regulated fund services business?

No. We are not a regulated fund administrator, AIFM or depositary and that is deliberate. We operate as an operational partner, working alongside established regulated providers rather than duplicating their role. This allows us to focus purely on strengthening your operating model, oversight and execution. Because we work across multiple administrators, AIFMs and jurisdictions, we have broad visibility across operating models, service levels and structural approaches in the market.

Our role is to provide specialist people and project support to help regulated firms manage capacity, deliver projects and strengthen their operational teams.

We already use a fund administrator. Can you still help?

Yes. Much of our work involves providing project resource directly to the fund administrator supporting your fund. We work within their governance framework, systems, and controls, and the administrator retains full oversight throughout.

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Private Equity

Fund accounting, administration and operational support built for private equity

People-Led

The landscape today

Valuations require robust oversight

Technology is reshaping value creation

Sustainability is now core strategy

Regulatory and tax complexity is growing

The private equity fund LIfecycle

Fund Structure Set-up

Capital Called and Investment

Manage

Exit

Where we work in the structure

Private Equity Managers

Fund Administrators

Need private equity fund finance support that understands your structures, reporting requirements, and operating model from day one?

Let's talk private equity

FAQs

Project Accountants Insights Hub