Emerging Manager

Client Challenge

A newly formed investment manager without a finance team or an accounting system in place and looked to Petra to establish their Management Company operations.

The Solution

• Petra leveraged industry best practices to build an accounting platform that would suit their current and future needs.
• Petra made recommendations for key vendors including payroll, insurance, T&E systems, and corporate card providers.
• Petra implemented processes and controls for release of cash, employee expense reimbursement, and intercompany settlement.
• Petra established a standard cadence around recurring processes
• Petra designed financial statements and customized reporting to tailored to the client’s needs

Key Results

• The systems, processes and controls provided comfort that Petra was a true extension of the client’s team, and that Petra would be proactively handling all aspects of the Management Company.
• The founding partners can focus time on investment level activities and other aspects of building their business.
• Management Company activities run on schedule, are designed with growth in mind and are properly integrated with fund level activities.