Fund Controller

4 days ago

london, United Kingdom Capital Dynamics Full time
Job Description

Role: Fund Controller (Fund Expense Management) - Private Equity

Location: London

Contract: Permanent


About Capital Dynamics:

Capital Dynamics is an independent global asset management firm focusing on private assets, including private equity (primaries, secondaries, and co-investments) and clean energy.

Established in 1988, the Firm has extensive knowledge and experience developing solutions tailored to meet the exacting needs of a diverse and global client base of institutional and private wealth investors. Capital Dynamics oversees more than USD 14 billion in assets under management and advisement and employs approximately 150 professionals globally across 13 offices in Europe, North America, and Asia.


Capital Dynamics is a recognized industry leader in responsible investment, receiving top marks (Five Stars) from PRI across all categories and investment strategies, as well as achieving strong results in GRESB benchmarking for its clean energy strategy.


Department Overview:


Fund Operations:

The Fund Operation team selects, coordinates, and monitors external service providers that are involved in the day-to-day operations of the funds and products offered by Capital Dynamics in particular auditors, fund administrators, and tax advisors (amongst others). It also works closely with other internal teams like Client Relations, Investment Management, Product Development, Sales, Legal, and Compliance in understanding and defining service and reporting requirements for CD funds and clients as well as bringing to market new products. The team currently consists of 6 persons based in New York, Milan, and Zug.


Role Purpose:

Capital Dynamics seeks to hire a Fund Controller to join our Fund Operations team in London. The purpose of the role is to oversee the expense strategy for all Capital Dynamics funds.


To achieve this, the role holder will be required to create a fund expense strategy and associated policy to define and determine relevant fund chargeable expenses in line with the agreed limited partnership agreements (LPAs). This will include the development of an annual budget to ensure fund charges /expenses are identified and accounted for in the operations of the funds.


The successful candidate will become a key member of the CD Fund Operations team and will work closely with several departments across CD including the Private Equity investment teams, legal and compliance, finance, and client relations, to ensure accurate management of expense charges to Capital Dynamic funds.


The role requires a strong understanding of fund expense provisions, the allocation of individual expenses within and across funds at a granular level, and fund accounting operations, while knowledge of carried interest accounting/calculations and the application of European and US waterfall models is highly desirable.


Tasks and Responsibilities:


  • Manage the development and implementation of a fund expense strategy, including review and substantial revision of existing policy.
  • Work alongside the legal team on the review of existing limited partnership agreements to identify and define relevant fund chargeable services.
  • Work with the legal team to contribute industry and operational knowledge to LPA development for new fund launches.
  • Lead the development of annual fund expense budgets to understand the operational cost of the funds.
  • Act as a key point of contact between external stakeholders of administrators, and other advisors to ensure alignment on the management of the relevant fund expenses.
  • Maintain knowledge of the fund's LPA & structure agreements, including any borrower/investor requirements, side letter requests, and external reporting requirements.
  • Coordinate with Accounts Payable / Accounts Receivable and overall Fund cash flow management (including distributions, drawdowns, closings, equalizations, and management fees).
  • Review and approve fund budgets at close and review periodically by exception to ensure adequate control.


Skills and Experience:

  • Solid and thorough accounting knowledge of IFRS, (US GAAP and UK GAAP is beneficial).
  • Experience with a variety of complex fund structures, such as master-feeders, Delaware, Cayman, and Lux-domiciled funds.
  • Proven experience managing or reviewing fund LPAs and associated agreements.
  • Proven track record in fund finance/fund accounting. Experience in carried interest accounting is ideal.
  • Solid technical and working knowledge of the topics of fund legal documents, fund oversight model, financial and fund accounting, and ability to document, justify, and demonstrate complex fund financial, accounting, and fund operation matters.
  • Understanding of the legal and regulatory compliance framework for the asset management industry (e.g. AIFMD, FATCA, etc.).
  • Understanding of controls, with an ability to critically evaluate them within a smaller organization.
  • A proven collaborator who can build relationships with business leaders and colleagues across the business, including across other locations.
  • Excellent attention to detail with a dedication to accuracy, quality, and integrity.
  • The ability to simplify complex issues for non-finance people.


Education and Qualification:

  • Educated to Bachelor’s degree level or equivalent.
  • Qualified Accounting (ACA / ACCA / CIMA or equivalent).
  • A minimum of 8 to 10 years experience, with at least the last 5 working in private equity, Venture Capital, Asset Management, etc.
  • Relevant experience in fund accounting, fund management, valuation, and/or auditing from a reputable accounting firm and/or asset manager is highly desirable.
  • Strong understanding of private company legal structures and the operations of Limited Partnership Agreements (LPA’s) .
  • Good knowledge of Microsoft Office including Word, Excel, and Outlook.
  • Experience with SAGE and NetSuite will be highly advantageous, but not essential.


Diversity and Inclusion:

Capital Dynamics is an Equal Opportunity Employer and is committed to creating a globally diverse workforce. We are a global company with 24 nationalities represented across our staff in 14 offices, spanning North America, Europe, the Middle East, and Asia. We believe diversity and inclusion (“D&I”) is key to being better at what we do, and our initiatives are designed to attract, develop, and advance talented individuals, regardless of race, sexual orientation, religion, age, gender, disability status or any other dimension of diversity. We welcome and strongly encourage suitably qualified applicants from a wide range of backgrounds to apply to join Capital Dynamics.

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