Services

Fund Operations and Accounting

• Preparation of all quarterly and annual financial statements.
• Establishing compliance with all partnership agreements – i.e. fund limits, side letter provisions.
• Review funding status calculations (amount available for investment, investment limitations).
• Review accounting for complex transactions.
• Assist in coordinating preparation of annual audits.
• Review and establish partnership allocations.
• Assist with fund structuring based on the location of investors and the portfolio companies.
• Create inter-fund/inter-company cost allocations.
• Track record review.
• Provision of outsourced valuation support in the preparation of financial statements and reporting to investors
• Creation of an accounting policy manual.

Operational Due Diligence (ODD)

LewisLevy Consulting provides comprehensive Operational Due Diligence (ODD) services to alternative investment managers, including private equity, venture capital, real estate, and other alternative asset managers. We help firms assess operational infrastructure, identify and mitigate risks, strengthen governance, and meet institutional investor expectations.

Our approach: We combine senior-level operational expertise with practical, risk-based assessments and hands-on implementation support to help managers establish scalable, institutional-quality operating frameworks.

Our core services include:

• Review fund operations, internal controls, governance structures, and operational policies.
• Assess fund accounting, financial reporting, treasury, and cash management processes.
• Evaluate fund administrators and other third-party service providers, including oversight arrangements.
• Identify operational risks, control deficiencies, and opportunities for process improvement.
• Support institutional investor due diligence questionnaires, documentation requests, and ongoing reporting requirements.
• Develop and implement operational policies, procedures, and remediation plans to strengthen institutional readiness.

Valuation Advisory Services

LewisLevy Consulting provides portfolio valuation advisory services to alternative asset managers, including private equity, venture capital, real estate, private credit, and fund-of-funds managers. We support fair value assessments, financial reporting, and compliance with applicable valuation standards, while helping managers strengthen valuation governance and audit readiness.

Our approach: We combine technical valuation expertise, institutional fund experience, and audit-focused documentation to deliver transparent, defensible, and consistent fair value conclusions.

Our core services include:

• Perform fair value assessments of private investments, illiquid assets, and complex financial instruments.
• Apply recognized valuation methodologies consistent with ASC 820, IFRS 13, and IPEV Guidelines, as applicable.
• Support quarterly and annual portfolio valuations, including valuation models, memoranda, and financial reporting.
• Review valuation methodologies, financial models, key assumptions, and supporting documentation.
• Advice on valuation policies, valuation committee charters, internal review procedures, and audit preparation.
• Provide valuation support for continuation vehicles, secondary transactions, complex capital structures, and equity allocation analyses.

Management Company Operations and Accounting

• Prepare budget models based on the fund revenue and management company costs.
• Prepare quarterly management company financial statements.
• Prepare internal partner distributions.
• Prepare placement agent payment calculations.
• Track record review.

Cash Management and Banking

• Coordinate all banking relationships and open bank accounts.
• Set up treasury approval process,
• Review cash management at management companies and funds.
• Set up expense report process including application for credit cards.

Line of Credit

• Assist in the review and negotiation line of credit terms.
• Manage outstanding borrowings and calculate interest payment/PIK interest.
• Prepare covenant reports for submission to the banks.

Tax oversight

• Manage tax vendor relationships.
• Ensure timely tax compliance and payment to the tax authorities.
• Review and ensure accurate filing of Forms 1099 for vendors annually.
• Review and ensure accurate filing of Forms 1065 and K-1’s including assistance of the distribution of K-1’s to the LP’s.
• Note we do not prepare tax filings

Legal

• Work with legal counsel to review and interpret firm legal documents.
• Respond to requests from counsel on document/legal/accounting issues.
• Communicate partnership and side letter issues as needed.

SEC Compliance

• Assist in the creation of high level compliance policies and procedures.
• Review regulatory filings including the preparation of the form PF.

Carry Allocation Review

• Create carried interest calculation.
• Create the carried interest allocation to the internal partners and staff.
• Review of carry distributions, providing a second set of eyes.

Ad hoc Support Services and Solutioning

• The proposed work activities listed above represent our understanding of key near-term firm initiatives and are not a complete and exhaustive list of everything that needs to be done. We will work with the client to prioritize critical dependencies. The client will have full access to LewisLevy personnel to assist with ad-hoc requests and other short term projects.