Fund Controller (Private Equity, Fund of Funds) - London or Birmingham

Capital Dynamics is an independent global asset management firm focusing on private assets, including private equity (primaries, secondaries and direct investments) and clean energy. Created in 1988, the Firm has extensive knowledge and experience developing solutions tailored to meet the exacting needs of a diverse and global client base of institutional and private wealth investors. Capital Dynamics oversees more than USD 15 billion in assets under management and advisement and employs approximately 150 professionals globally across 13 offices in Europe, North America, and Asia.

Department Overview

The Fund Operation team selects, coordinates and monitors external service providers that are involved in the day-to-day operations of the funds and products offered by Capital Dynamics, in particular auditors, fund administrators and tax advisors (amongst others). It also works closely with other internal teams like Client Relations, Investment Management, Product Development, Sales, Legal and Compliance in understanding and defining service and reporting requirements for CD funds and clients as well as bringing new products to market. The team currently consists of 10 persons based across Birmingham, London, Milan and Zug.

Role Purpose

Capital Dynamics is seeking a Senior Associate / Vice President to join our Fund Operations team as a Fund Controller for our Fund of Funds platform (covering both primaries and secondaries strategies). The Fund Controller will own the financial integrity, reporting accuracy and operational governance of allocated fund vehicles – overseeing the work of fund administrators, auditors and tax advisors, and acting as the principal point of accountability for fund-level financial and regulatory deliverables. The role works closely with Investment Management, Client Relations, Legal & Compliance, and the firm’s Risk function, as well as supporting Product Development and Investor Relations on fundraising and investor presentations.

Key Tasks and Responsibilities

• Lead the annual audit process end-to-end, acting as the primary point of contact with external auditors and owning resolution of technical accounting matters (valuation methodology, fair value classification, IPEV adherence under IFRS and/or US GAAP).
• Review and approve quarterly unaudited and annual audited fund financial statements, with sign-off accountability for quarterly NAV including review of underlying GP valuations.
• Oversee preparation of the quarterly fund reports for investors, liaising with administrator.
• Coordinate annual fund tax compliance (including K-1s, PFIC statements, Form 1042 and applicable local filings) with external tax advisors.
• Oversee regulatory reporting obligations across allocated fund vehicles (including AIFMD, FCA, CSSF and FATCA / CRS as applicable).
• Oversee integrity of fund data and books of record, working with the fund administrator to ensure transactional and valuation data is accurately captured.
• Maintain the analysis of funds’ commitment capacity and oversee budgeting and liquidity management of the funds.
• Liaise with administrator in relation to preparation of periodic capital call and distribution notices.
• Liaise with administrator in relation to use of the funds’ liquidity facility, including drawdowns and repayments, optimizing fund IRR having regard to facility headroom and utilization.
• Assist the product development and strategy team in updating fundraising materials and responding to requests for proposals.
• Ensure compliance with investor side letters, liaising with the firm’s in-house legal and client relations functions.
• Construct, validate and approve carried interest waterfalls, equalisation calculations and management fee computations in accordance with the Limited Partnership Agreement.
• Maintain process controls and compliance with ISAE 3402 assessments.
• Ensure compliance with operational provisions of Limited Partnership Agreements.
• Co-ordinate with managers of underlying investments for portfolio management.
• Co-ordinate sharing of Fund Handover Forms post-closing of an investment.

Skills, Education and Qualifications

• Fully qualified Chartered Accountant strongly preferred; bachelor’s degree is preferred, but not essential.
• CFA qualification is a plus, but not essential.
• Demonstrated experience as a fund controller or senior fund accountant within a closed-ended private equity or fund of funds environment.
• At least six (6) to ten (10) years’ relevant experience in fund administration, fund management, valuation or auditing from a reputable accounting firm and/or asset manager.
• Strong working knowledge of IFRS, Lux GAAP and/or US GAAP as applied to private equity funds, including familiarity with IPEV valuation guidelines.
• Experience reviewing complex partnership waterfalls, equalisations, and management fee and carried interest computations.
• Working knowledge of fund regulatory frameworks relevant to fund of funds vehicles (e.g. AIFMD, FCA, Luxembourg/CSSF, FATCA / CRS).
• Hands-on familiarity with eFront (or equivalent fund accounting / portfolio monitoring systems used by fund administrators) is highly desirable.
• Experience with systems and data migration is desirable.
• Advanced Microsoft Office skills: Excel, Word, PowerPoint and Outlook.

Languages

Must be fluent in English and display superior verbal/written communication skills.

Our Equal Opportunity Commitment

Capital Dynamics is an Equal Opportunity Employer and is committed to creating a global diverse workforce. We are a global company with 23 nationalities represented across our staff in 13 offices, spanning North America, Europe, the Middle East, and Asia. We believe diversity and inclusion (“D&I”) is key to being better at what we do, and our initiatives are designed to attract, develop, and advance talented individuals, regardless of race, sexual orientation, religion, age, gender, disability status or any other dimension of diversity. We welcome and strongly encourage suitably qualified applicants from a wide range of backgrounds to apply to join Capital Dynamics. Please inform our recruitment team if you have a disability, condition or difference that may require us to make any adjustments as part of your application process or during employment.