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About Our Private Funds Team

ALPS, through its wholly-owned subsidiary ALPS Alternative Investment Services, LLC ("ALPS") is led by a senior management team with an average of 20 years experience in the hedge fund industry.

ALPS helps asset managers efficiently manage the complexity of launching, maintaining and growing products amidst a constantly changing environment. Whether you are bringing new products to market or looking for a top-tier quality control environment to help address the needs of your existing products, our comprehensive solutions enable managers to focus their expertise on investing and increasing market share. Along with award-winning client service, advanced technologies, and compliance and distribution support, ALPS’ offers a customized solution for your retail and private investment products.

250 hedge funds, fund of funds and private equity funds

hedge funds, fund of funds and private equity funds

200+ Client Serviced
20 +

years of practical experience in the hedge fund/private equity business

Drop Shadow
Start Up
Middle &
Back Office
Regulatory Compliance & Consulting
Manager & General Partner Solutions
  • Starting a Private Fund with ALPS

    As a third party administrator ALPS serves your fund, but we are more than just a fund administrator. We are a resource for you and your fund. We are not attorneys and we do not give legal advice; however, we have over 20 years of practical experience in the hedge fund/private equity business, and we assist in the launch of new funds daily. We will work very closely with you throughout the process of starting your fund - whether it is the first private placement fund you have started, or one of several - helping you get set up quickly, with the assurance that inherent hedge/private equity fund complexities are properly addressed, giving you the confidence that your fund's ultimate structure is industry-competitive.

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  • Fund Administration

    ALPS' fund administration services include Accounting and Reporting, Investor Services/Registrar and Transfer Agent, Anti-Money Laundering, Treasury, Tax Compliance and Financial Statement Preparation and Audit Liaison.

    Accounting & Reporting Services

    For Hedge Funds, Funds of Funds and Managed Accounts

    Maintaining the books of record (general and subsidiary accounting ledgers); reconciling cash and investment positions; processing corporate actions; maintaining security master files; independently valuing the portfolio; calculating the Net Asset Value; calculating management and performance fees (including Equalization accounting: Series and Consolidation methods); preparing the financial statements periodically including: balance sheet; statement of profit or loss; statement of changes in equity or capital; and statement of net asset value of each share class and series of shares.

    For Private Equity, Venture Capital and Real Estate Funds

    Net Asset Value calculation & financial statement reporting; creating distribution models which calculate the allocation by partner including the carry amount in accordance with the governing documents of the fund; calculating investor capital call amounts; calculating the distribution payment amounts based on the distribution models; calculating and tracking the internal rate of return (IRR) for the fund, investments, and investors; and secure on-line web portal access for investment manager or investor reporting.

    Investor Services/Registrar & Transfer Agent

    For Hedge Funds, Funds of Funds and Managed Accounts

    Accepting subscriptions of new shareholders; processing redemption requests of the shares; communicating with the fund’s shareholders; maintaining the Register of Shareholders in the fund; monitoring shareholder investment restrictions; recording all original issues or allotments of shares or interests, transfers and redemptions of such shares; issuing confirmations; calculating the net asset value of each class and series of shares (and the redemption price); preparing and publishing shareholder account statements, including the details of the changes, and ending value for such shareholder; payment of redemptions; and monitoring ERISA.

    For Private Equity, Venture Capital and Real Estate Funds

    Processing investor subscriptions; maintaining the register of investors including contact details and other information to be used for capital calls, distributions and investor reporting; processing investor capital calls and distributions; tracking unfunded commitments and called-capital receivable amounts by investor; and investor capital account reporting.

    Anti-Money Laundering Services

    Performing for, and on behalf of, the Fund according to regulations including: United States/Cayman Islands Anti-Money Laundering Regulations; anti-money laundering procedures in relation to identification and verification of the investors in the fund; record keeping in relation to the verification of identity of investors and transactions effected; and internal controls and communication for the ongoing monitoring of investors in the fund.

    Treasury Services

    Participation in the processing of wire payments from the Fund’s bank account(s). Authority is structured whereby ALPS and the Fund, typically represented by the investment manager or general partner, have co-authority over the bank account(s). The result is that neither party (ALPS nor the client) can instruct electronic payments without the other party. This segregation of duties over a Fund’s bank account(s) is considered an industry standard and best practice.

    Financial Statement Preparation & Audit Liaison

    ALPS assists clients with drafting year-end financial statements, including the footnotes and condensed schedule of investments and financial highlights, in accordance with Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS).

    Coordinating and liaising with the Fund’s independent auditors; preparing the year-end financial statements and accompanying footnotes.

  • Middle & Back Office

    ALPS' middle and back office services include:

    • Customized daily reporting for management, risk or compliance purposes
    • Customized daily reporting for investor transparency purposes
    • Reconciliations of trade, cash activity and cash and positions balances with clearing brokers
    • Trade settlements
    • Shadow accounting (NAV calculations) and reconciliation to primary fund accountant
    • Processing corporate actions
    • Maintaining security master files
    • Independently valuing the portfolio
    • Calculating management and performance fees (including Equalization accounting: Series and Consolidation methods)
  • Registered Office

    ALPS’ registered office services for alternative investment funds (Cayman Islands) include:

    • Provision of registered office
    • Provision of company secretary
    • Coordination of director and shareholder meetings
    • Maintenance of the statutory books and records of the company
    • Annual filings with offshore regulatory bodies
  • Tax Compliance

    For Alternative Investment Funds

    ALPS’ tax compliance services for alternative investment funds include:

    • Initial fund structuring aimed at minimizing overall tax exposure of the fund and its investors
    • Tax due diligence services
    • Federal, state and international tax reporting, including preparation of Forms K-1s and 1099s
    • Partner tax allocations
    • Obtaining and maintaining Forms W-8 and W-9, as appropriate
    • Preparation of PFIC (passive foreign investment company)
    • Reporting FBAR (Report of Foreign Bank and Financial Accounts) nonresident state withholding requirements
    • Annual/quarterly tax projections
    • Responding to taxing authority inquiries
    • Tax audit representation
    • Cost segregation studies
    • Facilitate the structuring of like-kind exchanges
    • Ongoing federal, state and international tax consulting services

    For Managers and General Partner Solutions

    Our tax compliance services for managers and general partners include:

    • Initial company structuring
    • Federal, state and international tax reporting for the company and its owners, including preparation of Schedule K-1s or Form 1099s, as applicable
    • Owner compensation and benefit consulting
    • Annual/quarterly tax projections and estimated tax payment requirements
    • Responding to notices from taxing authorities
    • Tax audit representation
    • Wealth transfer and succession tax planning
    • Ongoing tax consulting services
  • Regulatory Compliance & Consulting

    ALPS’ regulatory and compliance consulting services for alternative investment funds include:

    • Consulting on entity structuring aimed at maximizing operational efficiencies and minimizing the overall tax exposure of the entity and its investors
    • Assisting in the selection of service providers
    • Owner compensation, benefit consulting, and wealth transfer and succession tax planning for managers and general partners
    • Ongoing federal, state, and international tax consulting
  • Manager & General Partner Solutions

    ALPS’ services for fund managers and general partners include:

    Accounting & Reporting Services

    • Maintaining the books of record (general and subsidiary accounting ledgers)
    • Reconciling cash with the banks
    • Recording management and performance fee income
    • Preparing financial statements periodically, including: balance sheet, statement of profit or loss, and statement of changes in equity

    Tax Compliance

    • Advising on tax issues on an ongoing basis
    • Preparation of federal and state tax returns, if applicable, including Form K-1s
    • Preparation of Form 1099 and FBAR (Report of Foreign Bank and Financial Accounts) compliance

Our Awards

Hedge Fund Awards

Ranked #1 Hedge Fund Administrator
servicing funds with $100 Million to $1 Billion in assets by Global Custodian in its Hedge Fund Administration Survey.

Hedge Fund Awards

Rated Top 5 Hedge Fund Administrator
servicing funds with less than $1 Billion in assets by Institutional Investor for 4 straight years.

Hedge Fund Awards

HFMWeek Awards Winner
Most Innovative Technology Solution 2016

Hedge Fund Awards

CTA Intelligence Awards Winner
Best Administrator in Valuation 2014

Hedge Fund Awards

HFMWeek Awards Winner
Technology 2013

Hedge Fund Awards

Fastest Growing Fund of Funds Administrator
Hedgefund.net Q2/11 Survey

Contact ALPS
  • 2699 S. Bayshore Drive
  • 9th Floor
  • Miami,FL 33133
  • 305.859.7000
San Francisco
  • 235 Pine Street
  • Suite 1825
  • San Francisco, CA 94104
  • 816.737.6665
  • ALPS Fund Services Canada, Inc.
  • 30 Adelaide St. East, #1
  • Toronto, Ontario M5C 3G9
  • 416.506.8305
  • One Financial Center
  • 15th Floor
  • Boston, MA 02111
  • 617.426.1745
Grand Cayman
  • Landmark Square, 1st Floor
  • 64 Earth Close
  • Grand Cayman KY1-1107
  • 416.654.5767
New York
  • 1177 Avenue of the Americas, 5th Floor
  • New York, NY 10036
  • 646.452.7070
  • Bellevue Place
  • 10500 NE 8th St. #1000
  • Bellevue, WA 98004
  • 425.454.3770