Private Equity, Venture Capital & Real Estate Fund Administration

Generally includes Accounting and Reporting, Investor Services, Anti-Money Laundering, Treasury, Tax Compliance, and Audit Liaison services.

Accounting & Reporting Services
Net Asset Value calculation & financial statement reporting; creating distribution models which calculate the allocation by partner including the carry amount in accordance with the governing documents of the fund; calculating investor capital call amounts; calculating the distribution payment amounts based on the distribution models; calculating and tracking the internal rate of return (IRR) for the fund, investments, and investors; and secure on-line web portal access for investment manager or investor reporting.

Investor Services
Processing investor subscriptions; maintaining the register of investors including contact details and other information to be used for capital calls, distributions and investor reporting; processing investor capital calls and distributions; tracking unfunded commitments and called-capital receivable amounts by investor; and investor capital account reporting.

Anti-Money Laundering Services
Performing for, and on behalf of, the Fund according to regulations including: United States/Cayman Islands Anti-Money Laundering Regulations; anti-money laundering procedures in relation to identification and verification of the investors in the fund; record keeping in relation to the verification of identity of investors and transactions effected; and internal controls and communication for the ongoing monitoring of investors in the fund.

Treasury Services
Participation in the processing of wire payments from the Fund's bank account(s). Authority is structured whereby KRFS and the Fund, typically represented by the investment manager or general partner, have co-authority over the bank account(s). The result is that neither party (KRFS nor the client) can instruct electronic payments without the other party. This segregation of duties over a Fund's bank account(s) is considered an industry standard and best practice.

Tax Compliance
Initial fund structuring aimed at minimizing overall tax exposure of the fund and its investors; tax due diligence services; federal, state and international tax reporting, including preparation of Forms K-1s and 1099s; partner tax allocations; obtaining and maintaining W-8BEN, W-9, and W-IMY forms, as appropriate; preparation of PFIC (passive foreign investment company); reporting FBAR (Report of Foreign Bank and Financial Accounts) nonresident state withholding requirements; annual/quarterly tax projections; responding to taxing authority inquiries; tax audit representation; cost segregation studies; facilitate the structuring of like-kind exchanges; and ongoing federal, state and international tax consulting services.

Audit Liaison
Preparing the supporting schedules and work papers to be provided to and liaise with the fund's independent auditors; and prepare the year-end financial statements and accompanying footnotes.