Fund Lifecycle

After the rush of corralling investors to commit to the fund at first close the business of operating the fund starts. Mostly the first activity is to draw monies into the fund to start investing and pay management fees and expenses. At the same time as the investing starts the fund manager is often still looking to raise additional funds at subsequent closes, so while the fund is live, fundraising can continue, often up to year and half from first close. This period is characterised by:

• Drawing down funds
• Making initial investments
• Commencement of fund accounting and administration services.
• Establishing investor reporting, using structured reports and interactive dashboards.
• Bedding down operating processes and communication channels between fund manager and administrator

Operating a fund, so that investors get what they need accurately and on time, and the fund is able to make investments when it needs to, requires a number of processes to run like clockwork and significant attention to detail. Understanding the complex reporting and analysis required to correctly reflect a fund’s performance requires technology to be applied intelligently. Mainspring brings a wealth of knowledge and honed processes to support fund managers across a number of fields including:

• Managing drawdowns and distributions.
• Fund accounting and administration services.
• Enhanced accounting services.
• Corporate secretarial services.
• Performance analysis and real-time access to data.
• Portal and dashboard enhanced reporting.
• SPVs and Co-Investment structures.

Fulfilling the investment thesis and selling out of investments is the culmination of significant work and it is vital that this piece of work is accurate and transparent for all the fund’s stakeholders. Mainspring supports the fund manager by providing fund level analysis and making distributions as determined in the fund LPA. At the same time, the ongoing accounting and reporting required to maintain the fund’s records continue for the life of the fund.

• Managing drawdowns (where required) and distributions
• Waterfall workings
• Investor transfers
• Fund and portfolio performance analysis and reporting
• Carry vehicle administration and accounting
• Liquidation support
• Ongoing accountancy and reporting requirements.

As the investments are sold off certain structures may no longer be required and Mainspring will assist managers looking to close these out as they become obsolete. At the same time, some investments may need support long after the life of the fund, and Mainspring is happy to continue to assist where certain structures need ongoing support.

• Managing drawdowns (where required) and distributions
• Ongoing accountancy and reporting requirements.
• Fund and portfolio performance analysis and reporting
• Waterfall workings
• Carry vehicle administration and accounting
• Liquidation support