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Emerging Managers

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Start Up Services and Partnership Organization

For emerging managers, having a knowledgeable advisor is critical to their success. FTS has worked with hundreds of well-known funds in their earliest stages to their most established current stages. We understand all the operational and performance issues that must be considered and can advise you along every step of the start-up process.

At the inception of the partnership, we work as a team with the general partners and their counsel to review and assist in the formation of the partnership agreement and private placement memorandum, and determination of the following:

 

  • Organizational structuring (legal / accounting)
  • Management fee and incentive allocation structure
  • Investor liquidity requirements
  • Management company’s operating cash requirements
  • Management company’s staff requirements and back office structuring
  • Risk management

 

Tax Services

 

  • Responsive and creative tax planning with respect to securities transactions to ensure optimum tax benefit
  • Preparation of Federal, State and Local fund income tax returns
  • Provide estimates of taxable income to the General Partner or Investment Manager to manage the expectations of their investors
  • Preparation of tax returns for the management company and general partner
  • Preparation of federal, state and personal tax returns of the owners of the general partner and management company entities
  • Representation before the Internal Revenue Service and any other state and local agencies

 

We also offer these specialized and in-demand services to provide greater assurances to your stakeholders:

 

  • Fee structure reviews
  • FBAR reporting
  • FATCA Compliance
  • Withholding for offshore partners (GP & LP)
  • Assisting in the implementation of procedures to evaluate and monitor uncertain tax positions required by Fin 48, Accounting for Uncertain Tax Positions (UTP’s), including assurance in the evaluation of UTP’s on their technical merits

 

At FTS our clients' needs are our sole concern. Our independence from audit services helps avoid common conflicts of interest. To learn more about the full range we provide to the Alternative Investment Industry or to speak with our tax professionals, please contact us.