Funds & Multi-Asset SPVs: Services & Pricing
Price Estimate:To get a price estimate for fund administration of a multi-asset fund or multi-asset SPV, please enter your information into the calculator below.
Deposit: There is a $2K deposit per Fund and multi-asset SPV and the remainder is paid upon the first closing per Fund or multi-asset SPV. Finally also offers a customer friendly annual payment model unlike other fund admin service providers which charge 7-10 years upfront.
Funds & Multi-Asset SPV Calculator
Funds: Most traditional funds have 3-4 legal entities, including:
- A Fund entity to invest in one or multiple portfolio companies / funds / assets, often structured as an Limited Partnership (LP) or an LLC.
- A GP entity to contribute a GP commitment to the Fund entity and to receive the carried interest, often structured as an LLC.
- A Management Co. entity to receive the management fee to pay for the funds operating expenses (salaries, rent, travel, fund admin, etc.), often structured as an LLC.
- An Advisory entity (Optional) for receiving compensation for working with portfolio companies and other companies, often structured as an LLC.
Multi-Asset SPVs: You can also create a fund structure using a multi-asset SPV under a Master LLC using a custom named Master LLC or using Finally's Master Fund LLC called "Master Fund I LLC". You don't technically need a GP entity and Management Co. entity with a multi-asset SPV structure, which saves on legal entity costs, though they do come in handy for organizing the payment and distribution of cash flows from management fees and carried interest. You can use legal entities you've created in the past as the GP entity and/or Management entity or create a new GP entity and/or a new Management Co. entity.
Multi-Assets Entities (Either traditional Funds or Multi-Asset SPVs): You would use this structure if your investors are going to be equally invested across all portfolio assets based on their percent of committed capital in the fund. Typically capital calls with happen 1-2 times a year over the fund's investment period (the time to build the portfolio, ~2-5 years) and may have 0%-66% in reserve capital for making follow-on investments where you invest additional capital into select portfolio companies. A fund is usually raised within 3-18 months, with one or multiple closings, and investors in the fund have a pro-rata share of the funds profits and losses, such that an LP with $10M in capital of a $100M fund has 10% of value of each asset within the portfolio.
A traditional fund model and a multi-asset SPV structure also benefits from cost savings of having multiple investments within the fund entity or multi-asset SPV entity, rather than having a seperate LLC for each investment, which would have a annual legal maintenance fee per LLC.
The final structure of your fund, including the details of the management fee and the carried interest, can be customized within your fund documents. A multi-asset fund or SPV can be used for a venture capital fund investing in a portfolio of early stage companies, a private equity fund investing in a portfolio of real estate properties, growth equity companies, and pre-IPO companies, as well as for investing as a Fund-of-Funds investing in a portfolio of funds.