My client, a leading Private and Public markets privately owned fund, is seeking a new head of fund accounting role to take responsibility for accounting for its various European focused investment products managed by its European private debt/direct lending business line. The structures will include third party investors and will be LUX/ Irish/UK based, include GP/LP entities as well as evergreen funds.

The role will work closely with the investment team, the investment accounting team, wider finance and operations function and key stakeholders across the business to support any transactions, ongoing asset management and capital raising initiatives. The successful candidate will need to evolve new systems and controls to manage and monitor the various funds and investment structures’ financial information, reporting and compliance obligations. In addition the role will contribute to a number of projects around systems and controls to improve productivity and efficiency.

The role will responsible for a small team, circa 5 experienced individuals with significant post qualified experience themselves and the management, development and retention of those personnel along with relevant third party administrators.

Key Responsibilities

1. Manage and direct relevant firm personnel and third party administrators to ensure their responsibilities are carried out in a timely manner and to the required standard, including:
2. Meeting all financial and investor reporting deadlines;
3. Coordinate and manage all investor financial reporting;
4. Banking covenant testing requirements for funds;
5. Oversight and management of audit processes;
6. Liquidity management for the fund or JV including capital calls and distributions;
7. Managing the intragroup funding arrangements to deliver the above in a cost efficient manner;
8. Ensure compliance with all tax reporting for fund and JV entities through oversight of local teams or third party service providers.
9. Develop and control the operating budgets for funds and JVs to help minimize cost ratios for investors.
10. Cash management including budget to actual oversight.
11. Support capital raising processes.
12. Oversee waterfall and carry calculations in line with the LPA.
13. Work with the Head of Tax to implement and manage appropriate tax strategies across the various fund structures and help minimize tax risks.
14. Develop and maintain necessary systems, policies and procedures to ensure effective financial management of the funds.
15. Drive improvements in the finance function through better and more effective use of data and technology including leveraging AI.
16. Dealing directly with the third-party debt agents and debt providers in relation to the financing at the fund level
17. Preparing and overseeing debt provider drawdowns
18. Overseeing debt reporting and providing relevant information to lenders in a timely manner
19. Develop and maintain strong business partnering relationships with internal teams and external stakeholders
20. Respond to information requests and ad hoc queries from JV Partners
21. Assist with aspects of launching funds/fund structures/fund share classes.
22. Assist with on boarding of investors into the Funds.
23. Assist in the execution of private loan deal closings/settlements.
24. Assist with corporate governance tasks.
25. Assist with marketing presentations, RFPs, and DDQs
26. Respond to specific client requests

In addition, there will be frequent ad-hoc projects and other duties as required.

Candidate Profile

1. Significant relevant post qualification experience required with meaningful time within an asset management business focused on closed ended Private debt/direct lending funds is beneficial, other asset classes across the private markets spectrum such as Equity, Real Estate or Infra will also be considered.
2. Excellent communication skills – across all stakeholders, shareholders and boards.
3. Ability to lead teams of experienced people and influence JV/third party partner teams.
4. Commerciality and experience of primary and secondary Debt market or private equity preferred
5. Ability to make decisions and execute them quickly.
6. Knowledge of asset management, RIAs, and fixed income financial products including Public Debt funds (UCITS and 40 Act)
7. Familiarity with preparing and reviewing of capital call and distribution calculations, management fee calculations, waterfall calculations and preparation of financial statements
8. Knowledge of partnership accounting
9. Knowledge of IFRS and other GAAP (Lux GAAP & US GAAP)
10. Strong proficiency in databases, including Excel