LNB Accounting is accepting selected Fund Services engagements for emerging and lower-middle-market private fund managers. We help managers establish and operate disciplined fund-finance functions through partnership accounting and reporting, capital-account administration, capital calls and distributions, controlled treasury administration, tax coordination and audit readiness. Our model is designed for managers who need a named, accountable finance team and direct CPA access without immediately building a complete internal fund-finance department.
WE ARE PROUD TO SERVICE OUR FRENCH-SPEAKING
COMMUNITIES ESTABLISHED THROUGHOUT CALIFORNIA.
SAN FRANCISCO BAY AREA CPA GUIDANCE FOR AUDITS, TAX STRATEGY, AND DEAL-READY FINANCIALS
Managing a fund involves more than keeping the books current. Financial activity needs to be recorded accurately, reporting needs to stay organized, and the information behind the fund needs to be ready when managers, investors, or other stakeholders need it.
Fund size alone does not determine fit. LNB evaluates each engagement based on structure, LP complexity, entity count, reporting requirements, tax profile, transaction activity, records, implementation timing and staffing requirements.
LNB prepares reconciliations, cash forecasts, capital-call and distribution calculations, notices and payment-support packages. The client retains investment discretion, valuation approval, payment approval, bank authority and final approval over all fund movements. LNB does not have unilateral wire authority.
Emerging and first-or second-fund managers
Family offices and independent sponsors
U.S – based private investment structures requiring a more disciplined finance function.
Selected lower-middle-market venture capital, private equity and private-credit managers
Managers separating from an internal or shared back office
SVPs and fund-of-funds structures only were separately accepted and scoped
Your fund administrator becomes an important part of your financial operations, so experience and communication matter. LNB Fund Services engagements are designed around a named operating team, defined preparation and review responsibilities, and direct Managing CPA escalation.
LNB Accounting is listed as a Featured Service Provider on Global Deal Flow, helping founders, investors and private fund managers access CPA-led audit, accounting, fund administration and financial due diligence support.
Every fund has its own structure, priorities, and financial demands. Tell us a little about your fund and where you need support, and we’ll discuss how our fund administrator services could fit into your current operations.
LNB does not provide investment management, investment advice, custody, broker-dealer services, legal interpretation, securities-law advice or investment recommendations through Fund Services. Complex international tax, K-2/K-3, withholding, blockers, KYC/AML, legal, regulatory, independent valuation, cybersecurity and other specialist services are separately scoped or coordinated with qualified professionals.
RELATIONSHIP OWNER AND FINAL OPERATING REVIEWER
PRIMARY ACCOUNTING AND REPORTING OWNER
TRANSACTION, CASH AND INVESTOR-SERVICE EXECUTION
Fund Services clients may separately engage LNB’s Investor Review Desk for targeted financial red-flag reviews of selected prospective investments. Fund Services supports recurring fund accounting and administration. The Investor Review Desk supports a specific investment-review situation under a separate scope, authorization, confidentiality review, conflict review and intended-use limitation. This service is powered by our own due diligence app called My LNB DD App.
Official fund, investment, partnership-allocation, capital-account and investor-reporting system of record.
Management-company payroll, AP, expenses, budgeting, vendor records, routine bank activity and corporate reporting.
Fund transactions stay in the fund platform; operating transactions stay in the corporate ledger; reconciliations connect the two.
LNB uses purpose-built fund-accounting and cloud-accounting systems appropriate to the client’s structure. The selected technology is confirmed during scoping and implementation. LNB does not sell fund-administration software subscriptions; clients can also purchase their own Fund Admin software and add LNB as an admin user.
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Fund accounting focuses on the financial books and records of the fund, including investment activity, partnership allocations, capital accounts, management fees, expenses, financial statements and investor reporting.
Fund administration is broader. It includes fund accounting together with capital-call and distribution workflows, LP and commitment tracking, controlled treasury support, reporting calendars, investor communications, tax coordination, audit readiness and other recurring operational responsibilities. LNB’s model is CPA-led, while the fund manager retains investment decisions, valuation approval and payment authority.
LNB is accepting selected Fund Services engagements for emerging and lower-middle-market private fund managers. The initial focus is on U.S.-based direct-investment funds with manageable entity structures, investor requirements and reporting needs.
Depending on the engagement, LNB may also support GP entities, management companies, venture capital funds, selected private equity and private-credit funds, SPVs, co-investment vehicles and fund-of-funds structures. Complex international, feeder, blocker, multi-class, side-letter or foreign-investor structures require additional review, specialist involvement and separate pricing.
No. Fund size is one consideration, but it does not determine fit by itself.
LNB also evaluates the number and type of investors, entity structure, investor classes, side letters, tax profile, transaction activity, reporting requirements, historical-record quality, technology needs and implementation timetable. A larger fund with a straightforward structure may be a better fit than a smaller fund with significant cross-border, tax, reporting or allocation complexity.
The fund manager’s authorized personnel retain final payment approval, bank authority and control over fund movements.
LNB may prepare and review fund-flow calculations, notices and payment-support packages, but LNB does not have unilateral wire authority. Bank and custodial accounts remain in the client’s name, and material payments should generally require dual authorized client approval.
Yes. LNB can coordinate tax calendars, accounting schedules, K-1 information, audit-support schedules, document requests and communications with the fund’s tax preparer, auditor, legal counsel and other advisors.
Tax return preparation, complex partnership tax, foreign investors, withholding, K-2/K-3 reporting and multi-state matters are separately scoped. Audit support is also distinct from issuing an audit opinion. LNB must complete an independence assessment before accepting an audit or attest engagement for a fund whose accounting records LNB maintains, and in some cases another CPA firm may be more appropriate to issue the audit opinion.
Yes. Management-company accounting may be added as a separately scoped service.
Depending on the client’s needs, services may include bookkeeping, accounts payable, payroll coordination, employee and vendor expenses, bank reconciliations, budgeting, monthly reporting and intercompany accounting. Routine management-company activity would generally be maintained in an operating-accounting system such as QuickBooks Online Advanced or, for more complex organizations, NetSuite. Management-company accounting is not automatically included in the fund-administration base fee.
Yes, selected SPVs, co-investment vehicles and fund-of-funds structures may be supported under separate scopes.
SPV services may include entity accounting, investor contributions, distributions, capital accounts, reporting and tax or audit coordination. Fund-of-funds administration is more complex because it may require tracking underlying-fund commitments, unfunded amounts, capital calls, distributions, quarterly capital statements, lagged NAVs, underlying K-1s, liquidity forecasts and look-through reporting. These engagements require separate acceptance, staffing, technology and pricing analysis.
Fund administration supports the recurring financial operations of the fund, including accounting, capital accounts, investor reporting, treasury administration, tax coordination and audit readiness.
The Investor Review Desk supports a specific investment opportunity. It provides a targeted, CPA-led financial red-flag review that may organize evidence, identify missing information, document financial concerns and prepare management questions before the client decides whether deeper diligence is warranted.
The Investor Review Desk is separately scoped, authorized and billed. It has its own confidentiality, conflict-review and intended-use requirements, and it does not provide an investment recommendation, audit opinion, valuation or full quality-of-earnings engagement.
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