Special Purpose Vehicle (SPV)
Special Purpose Vehicles are becoming increasingly popular. Powered by our proprietary Seamless SPV software, our team of fund administration specialists provide you with industry leading NAV turnaround coupled with the highest level of client service. Use CommonSubDoc, our cutting-edge, web-based e-signature onboarding platform, to manage your relationships and capital activity. Why Formidium? Because cutting-edge technology and high-touch client service is at the core of everything we do.
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Overview
Seamless simplifies your back office by combining multiple programs into one; allowing trades, accruals, and transactions to be uploaded in minutes, generating easy-to-read daily reports. Seamless automates
many parts of the fund administration process, reducing manual errors and providing cost savings, allowing buy-side managers to analyze their portfolios and easily view investor balances, P&L, and exposure
reports via the web. Seamless also comes with a built-in portal, allowing investors to easily view their balances, tear sheets, and more.
Seamless software, combined with our experienced global staff enables us to provide you with the highest quality fund administration service. We pride ourselves on making the back office as seamless as
possible for both you and your investors.
Features
Easy Onboarding
Industry leading on-boarding turnaround time
Reporting
Complete general-ledger accounting report simplifies year-end audits
Capital Calls
Tracking of capital commitments, capital calls, distributions & cap table management
Waterfall Calculations
Ability to manage complex waterfall calculations & fee arrangements
Web Delivery
Access to cutting-edge investor & document management portal
Transfer Agent
We are a regulated transfer agent familiar with investor needs
Automated AML/KYC
AML/KYC checks, offshore compliance services
Competitive Pricing
Competitive, straightforward pricing
Services
Fund Accounting
- Complete general ledger accounting and reports
- Tracking of expenses and payments
- Calculate and tracking of income/loss, expenses and distributions
- Cash reconciliation and tracking of receivables/payables
- Automated management fees, carried interest, and waterfall calculations
SPV Administration
- Experienced staff to answer your questions/queries. You are more than a ticket number
- Assist with setup and fund launch
- Setup and Creation of new SPVs for investments
- Capital Commitment, calls & distributions
- Online secured Portals for Manager and Investors
Treasury Services
- Setup and maintenance of funds bank accounts for capital activity, operations, and distributions
- Payment of expenses, distributions and investments
- Complete reconciliation of Bank books
- Expense budgeting, accruals, and invoice payments
Tax Services
- Complete Federal and State Tax returns – EVERY Year, not just first and last year
- K1s for investors
- 1099s and Tax withholding for non-US investors
Audit Support/Liquidation
- Support in complete liquidations, Audit support
- Draft Financial Statements preparation in accordance with GAAP or IFRS
- Liaise and act as main point of contact for Auditors
- Distribute audit reports to investors, exchanges, regulators and other parties
Technology Portals
- CRM capabilities, relationship management with the investors after the initial onboarding
- Dynamic, secure and user-friendly web portals for manager and their investors
- Interactive dashboard to track status of subscriptions
- Option to white label with client branding
- In-house development team customizes to meet client needs
SOC 1, SOC 2 & SOC 3 Certified
Our fund services operations are SOC 1 Certified. Seamless Suite and CommonSubDoc are SOC 2 & SOC 3 Certified. Our SOC 2 audit covers cybersecurity testing, DR site testing, data backups, and other similarly important aspects of our tech infrastructure.
