Multi-Asset SPVs & LP Funds - Finally Fund Admin

Multi-Asset SPVs & LP Funds: Structures, Services, & Pricing

Finally is a full-service fund administration platform where Fund Managers can create a Master Series LLC (a Parent Fund Entity) and have one or multiple Multi-Asset SPVs (each as a seperate Fund Entity, e.g. Fund I, Fund II, Fund III, etc.) underneath the Master Series LLC. Each Multi-Asset SPV can invest into multiple opportunities, such as a companies, funds, or real estate properties, etc.

Fund Managers can also use Finally to create LP fund entities to invest into multiple opportunities.

Use Finally's calculator below to get a pricing estimate for a Multi-Asset SPV or LP Fund entity.

Note: Fund Managers can also create one or multiple single-asset SPVs under a Master Series LLC. Click here to learn more about single-asset SPVs.

Click here to schedule a call to discuss with Finally's team what type of fund structure you would like to create and we can provide a custom quote for you.

There Are Many Benefits To Using A Master Series LLC To Create One Or Multiple Multi-Asset SPVs, Or Using A LP Fund Entity, To Invest Into Multiple Opportunities
Invest In One Or Multiple Opportunties: A Master Series LLC can have one or multiple multi-asset SPVs and one or multiple single-asset SPVs underneath it. Think of the Master Series LLC as your parent fund entity, under which you can have multiple multi-asset SPVs (e.g. Fund I, Fund II, Fund III, etc.) as well as multiple single-asset SPVs (e.g. investments into specific startups, real estate opportunities, or target funds). A LP Fund entity similarly provides a fund structure to invest into one or multiple opportunities.
Offer Your Investors Diversification: A multi-asset SPV and a LP fund entity both provide a fund manager's investors the benefit of diversification (vs. Single-Asset SPVs) and the investors don't have to select which investments to make (vs. having discretion of choice with single-Asset SPVs) as the fund manager selects which opportunities to include in the portfolio and how much to invest in each opportunity. Investors in a multi-asset SPV or a LP fund entity have a percent ownership of the multi-asset SPV or LP fund entity. Example: $1M (Individual investor's investment) of a $100M fund (total capital committed to a multi-asset SPV or LP fund entity by all investors) = the individual investor would own 1% of the $100M multi-asset SPV or LP Fund entity.
Custom Fund Terms per Multi-Asset SPV or LP Fund Entity: Tailor the management fee and carried interest for the fund strategy you are implimenting.
Custom Naming Of Fund Entities: Customize your Master Series LLC fund name (e.g. "Your Parent Fund Name LLC") or use Finally's Master Series LLC called "Master Fund I LLC", where each single-asset SPV investment would be named "Opportunity Name, a Series of Your Parent Fund Name LLC" and each multi-asset SPV investment would be named "Fund I, II, or III Name, a Series of Your Parent Fund Name LLC". If you create a LP Fund entity, your fund name would be, "Name Fund I, II, or III LP".
Save Money: The Master Series LLC / Multi-Asset SPV Fund model and LP Fund model is a structure that provides cost savings for fund managers because you don't need to create a seperate LLC for each investment which would have annual legal maintenance fees per LLC.
Fund Doc Templates : Finally provides fund managers with the fund doc templates for the Master Series LLC, Multi-Asset SPVs, and LP Fund entities, which can then be further customized.
Finally Is A Full Service Fund Admin Platform
Private Labeled Investor Portal: Fund Managers get their own private labeled investor portal for investors to view investment opportunties, sign subscription docs, access wire instructions, receive wires from your investors and send distributions to your investors from within the platform, and share portfolio updates.
A Dedicated Fund Admin Support Team: Each Fund Manager gets assigned to a dedicated Finally Client Manager to get setup and to work on each deal from begining to end.
Legal Entity Setup: Finally can set up legal entities (LLCs, GPs, LPs, Corporations, S Corps, etc.) in any state within the United States (often Delaware) or internationally (Cayman Islands, British Virgin Islands, Luxembourg, Mauritius, etc.)
Bank Accounts: Finally has partnerships with a number of banks both in the United States and internationally to setup one or multiple bank accounts for your funds operations.
KYC/AML: Finally provides KYC/AML checks for all investors.
Fund Accounting & Taxes / K1s: Finally has a dedicated accoutning and tax team that prepares the accounts and taxes / K1s for all your investors across all your investments, which are accessed from with your investor portal.
Management Accounting & Corporate Tax: Finally provides operational management accounting and corportate tax services for the Fund Management LLC entities.
Distributions: Finally can manage the distributions to your investors, either on one a time basis or a recurring basis.
Audit: Custom quotes can be provided by third party audit partners in Finally's network.
Legal: Finally can recommend a trusted legal partner to edit and/or consult with you on your fund documents.
Pricing: Multi-Asset SPVs & LP Funds

Pricing: Finally provides custom pricing for each Multi-Asset SPV and LP Fund based on the number of investors, number of investments, and total amount of capital.

Deposit: There is a $3,000 deposit per Multi-Asset SPV and per LP Fund + $300 one-time new client set-up fee and the remainder is paid upon the first closing of each Multi-Asset SPV or LP Fund.

Annual Payment For Fund Admin: Finally also offers a customer friendly annual payment model unlike other fund admin service providers which charge 7-10 years upfront. However, if you would prefer to pre-pay for 7-10 years for fund admin services, please let us know and we can provide you with discounted pricing.
Calculator: Multi-Asset SPVs & LP Funds

Use the calculator below to get a pricing estimate for creating and managing a Master Series LLC and creating one or multiple Multi-Asset SPVs; or creating a LP Fund Entity. Note: The final invoice will be based on the final amount of capital closed, the number of investors, and the number of assets per Multi-Asset SPV or LP Fund entity.
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.

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Multi-Asset SPVs & LP Funds: Structures, Services, & Pricing

Calculator: Multi-Asset SPVs & LP Funds