Business Service: Launch advisory services for emerging managers

Business Service

Launch advisory services for emerging managers

Challenge

Two investment professionals left an established Boston private equity firm to start their own firm. They already had a $220 million investment program in place with fund administration services provided by another fund administrator. This new firm had to establish its financial and operational infrastructure, find better fund administration support, and prepare for a Fund I raise targeting $500 million of commitments.

Solution

Petra team recommended and helped establish new vendor relationships, build out accounting policies and procedures, establish fund administration services across entities and assist them with raising their first fund.

Key Results

• Petra put in place key vendors across banking, insurance, audit, and tax as well as onboarding a PEO provider.
• Petra seamlessly moved all fund administration services and records from prior administrator in order to effectively take over the fund administration work over for their existing investment program.
• Created needed analysis for the preparation of their marketing materials, including their DDQ.
• Served as a key participant in ODD sessions with prospective investors for Fund I.