Without exception, each private equity firm’s administration requirements are unique, detailed and extremely demanding. On the one hand – to all but a few of the largest firms in the sector – these requirements are non-core. Operationally they require significant amounts of time and dedicated resources to manage and oversee them effectively. On the other, with investors increasingly calling for these activities to be outsourced, the appointment of a high quality and independent administrator is of crucial importance. Our clients benefit from our highly specialist alternative investment services, our skills, and our experience. We enable them to focus solely on their core business.They know that our highly experienced team – one that understands the sector, the market and the specific nuances of different fund and investment holding structures – is a valuable extension of their back office and a powerful asset to their business. We provide a suite of back office, bookkeeping and administration services. These are designed to assist our clients with activities such as private equity fund raising, and establishment of the fund structures. We support them through the numerous investment and divestment cycles and the associated investor, fund and regulatory reporting.

Our services include:

• Establishment of general partner companies, partnerships and feeder vehicles in conjunction with advisors and legal teams
• Implementing and maintaining fund and investment holding structures designed by specialist advisers
• Full company secretarial services
• Provision of registered office
• Provision of directors
• Provision of regulatory officers for client companies:
  • Compliance officer
  • Money laundering compliance officer
  • Money laundering reporting officer
  • Directors and conducting officers for AIFM
• Acting as FCA authorised operator
• Cash management and treasury services
• Investor relations and communications
• Maintaining statutory registers and investor contacts databases
• Bookkeeping and financial reporting
• Working with key advisers and auditors
• FATCA compliance services
• Liaison with local regulators and statutory filings
• Providing general support to back office and deal teams

Operator services

Saltgate (UK) Limited is authorised by the Financial Conduct Authority to carry on the regulated activity of establishing, operating or winding up collective investment schemes.

Among a significant number of the larger leading private equity firms, we are recognised for an intelligent and articulate approach which mirrors theirs. Just as they do with their investors, we focus on keeping our clients happy – for the long term. We know that our clients’ investors are as important to them, as our clients are to us. This understanding drives our whole approach to investor relations where the emphasis is on providing unobtrusive but influential, high value added services. The coordination of closing documentation, KYC and investor queries places significant demands on clients. By maintaining regular and open communication with them, and their investors, and by following our own internal risk management processes, we address all the inherent administrative and logistical challenges. Therefore, in the knowledge that their investors’ compliance and information requirements are being expertly fulfilled, our clients can focus on their core business. Of course, the exact nature of our clients’ investor onboarding, reporting and communication varies according to the specific needs of their funds and their investors.

A comprehensive suite of private equity investor services designed for private equity fund administration:

• Onboarding of investors with tailored checks
• Processing investor queries
• Maintaining investor contact information
• Calculating and generating drawdowns and distributions
• Drafting or reviewing investor communications
• Processing transfers of interest, subscriptions, redemptions and distributions
• Investor specific reporting
• Annual, quarterly and ad hoc investor reporting.

Where large, complex and active funds with tight reporting timetables are concerned, careful project management, unrelenting attention to detail and transaction documentation, and rigorous adherence to strict timetables with non-negotiable deadlines are all critical, but a given. We go further. By applying our team’s industry knowledge and deep experience of the private equity sector, and by placing additional emphasis on the subtler, but no less critical, elements of private equity fund accounting we’ve turned a speciality into our passion. The beneficiaries are our clients. Right first time and right on time, are much more than features of our service; they’re in our DNA.

A suite of accounting and reporting services designed to streamline and enhance private equity fund administration:

• Financial accounting and bookkeeping; under IFRS, US GAAP, local GAAP, or Limited Partnership requirements
• Investor reporting; under EVCA, IPEV, ILPA
• Accounting and forecasting
• Carried interest or performance fee calculations
• Generation of capital account statements
• Calculation of equalisation
• Liaison with auditors, tax advisors and legal counsel
• Tax statements, tax reporting
• Calculation of preferred return

While the requirement to appoint a depositary is mandatory, we maintain that our role as depositary provider is privileged – and entirely at our clients’ discretion. It is for this reason that our specialised depositary service is not offered as a ‘single-service’ line, but as a fully integrated part of a client’s wider suite of alternative investment services. To ensure a smoothly conducted and cost-effective service it is crucial to structure it around clients’ existing processes. We provide depositary services to closed-ended alternative investment funds that invest in non-custody asset classes.

Our services include:

• Cash-flow monitoring
• Safekeeping of assets, including verification of asset ownership
• Oversight of the activities of the fund, including monitoring of transactions and valuations
• Oversight of the manager, including compliance with applicable law and regulations and monitoring the effectiveness of the control environment

Where large, acquisitions, disposals and re-financing with tight timetables, and non-negotiable deadlines are concerned, our careful project management, unrelenting attention to detail and rigorous adherence to strict timetables are all critical, but also a given.

We go further. By combining our team’s industry knowledge and deep experience of private equity sector transactions, with our commitment and exceptional client service, we ensure that our clients’ transactions complete precisely when they should. Whether it’s the middle of the day, or the middle of the night our systems, and management structures, are designed to deliver absolute certainty. The beneficiaries are our clients. Right first time and right on time, are much more than features of our service; they’re in our DNA.

Our suite of transaction support services is designed to administer private equity funds administration and includes:

• Working with your deal teams and key advisers
• Project management
• Establishment of companies, limited partnerships and unit trusts
• Liaison with local regulators and statutory filings
• Opening and maintaining bank accounts
• Cash management and treasury services
• Full company secretarial services.
• Provision of registered office, directors and trustees