GP · Fund · Quarterly
Quarterly management fee
This quarter’s management fee is checked LP by LP and booked in both the fund and the management company.
PlanQuarterly management fee
Check the fee LP by LP
HeldOperator checks each LP’s fee against the LPA, side letters, your GP commitment’s waiver and board fees to offset, and drafts the entries for both books.
OperatorSign off the fee
HeldYour accountant reviews the fee LP by LP, with Operator’s citations, and signs it off.
PersonAccountant approvesPost the fund’s accrual
HeldCorrects the quarter’s drafted fee accrual in the fund’s books and posts it.
API actionAccountant confirmsBook it in the management company
HeldPosts the matching fee receivable in the management company’s books.
API actionAccountant confirmsPay the fee
HeldYou pay the fee from the fund’s bank account and book the payment.
PersonGP approvesCheck the fee was paid
HeldOperator checks the fee payable has cleared and flags it to you if it hasn’t.
OperatorWaits 5 business days after the payment
The plan as it runs: each step waits for the one before it, and stops at its gate until the owner approves.
At a glance
Who runs it, and when
- Who runs it
- GP
- What starts it
- A new fee quarter starts, with the quarter’s fee accrual already drafted from your fee schedule.
- How often
- Quarterly
- Vehicle
- Fund
Ask Operator
Start it in a sentence
Ask Operator in chat. It drafts the plan for your fund, and nothing runs until you release it.
- You
Book this quarter’s management fee and check the side-letter discounts.
- You
Is the Q4 fee right? Then post it.
- You
Charge the management fee for Fund II.
The outcome
The quarter’s fee is checked LP by LP, posted in the fund and the management company to match, and confirmed paid.
What it proves
- Checks every LP’s fee against side letters, waivers and offsets, citing the documents.
- Posts nothing until your accountant has signed off the fee.
- Books the fund and the management company from the same figures, so they match.
- Waits a week after payment, then checks the fee cleared and flags it if not.
- Shows a junior the fee total and you each LP’s fee.