Hedge Funds and Private
Equity Funds

Put Your Fund In A Position Of Strength

WS+B's Financial Services Group serves clients reflecting the diversity of the industry, including domestic funds, funds of funds, private equity and commodity pools. Our clients include start-up as well as long established organizations.

Meaningful, accurate and timely communication between auditor, fund manager, and the partners is critical to successful operation of any organization. From the inception of the relationship, our professional teams of auditors, tax professionals, and internal quality control personnel have the right expertise and in-depth knowledge of your strategies and objectives to address your particular needs, as well as the various reporting standards and tax compliance.

The life of a fund requires a diverse array of services. WS+B has the experience and tools to address these milestones.

Start Up Of The Organization

Our Financial Services & Investment Group take the time at the earliest stages of the fund to work with the general partner and their counsel to review and assist in the development of the partnership agreement and private placement memorandum. Key to those discussions includes the understanding of the objectives of the fund, and the real world ramifications and implementation of the processes associated with the day to day workings of the fund. Among the topics discussed are:

• Organizational structure
• Management fee and incentive allocation structure
• Investor liquidity requirements
• Projections of the Management company's operating cash requirements
• Professional reporting standards
• Tax compliance issues
• Evaluations of performance of existing portfolios and strategies
• Review of organizational/operational documents

Financial Reporting

Financial reporting is one of the key communications with the partner group. Timely and accurate information is critical to meeting investor expectations. WS+B's services include the following:

• Consultations regarding operational techniques
• Audit of financial statements and capital accounts in accordance with relevant standards, including GAAP, IFRS or Tax Basis reporting
• Implementation guidance on application of reporting standards
• Review of partnership agreement to determine proper partner allocations and interim books to facilitate investor contributions and withdrawals
• Consultation regarding regulatory issues
• Partner allocations (based on tax and GAAP)
• Calculation of performance results and incentive allocations

Tax Services

Tax issues can range from the simple to the highly complex. Investors have expectations of timely reporting to meet their own tax compliance needs. Our professionals are attuned to the needs of these constituency groups and work with the managing partner to address reporting issues as they arise and meeting of filing deadlines. The services we provide include:

• Responsive tax planning and communications
• Preparation of Federal, State and local income tax returns of the fund and all organization entities including the management company and general partner
• Year-end estimate letters to enable investor-partners to plan their tax obligations
• Representation before the Internal Revenue Service and any other agencies