Fund Accounting Manager - LP Secondaries in London

The role is in the team that is responsible for the financial control and management of the financial reporting process for ICG’s Semi Liquid Private Equity Funds and LP Secondaries funds. The role involves the coordination and interaction with deal operations and investment teams, client solutions, tax, fund structuring and group finance, as well as multiple stakeholders both internally and externally to ICG, such as fund administrators, auditors, Board of Directors, and investors.

ICG LP Secondaries closed its first fund at the hard cap of $1.0bn and is in the process of raising its second vintage. LPS II has successfully closed $400m of commitments in the initial 1A close in 2025 and is targeting raising $1.75bn. Including co-invests and mandates the strategy currently has c.$2bn AUM and is delivering top quartile performance. In addition to the closed-ended funds ICG has launched two open-ended funds with one targeting the US market and one the European market. The primary investment base focuses on buyout LP secondary positions and a number of co-investments. ICG has agreed a partnership with Amundi who are the largest distributor in Europe to support the fund raise.

Primary Responsibilities for this role (fund accounting and investor reporting)

• Oversee monthly, quarterly and annual financial, investor, and regulatory reporting, including annual audited financial statement reporting and applicable regulatory reporting in the US and Luxembourg.
• Manage third party fund administrators to ensure that reporting is completed in a timely and accurate manner.
• Collaborate with deal operations and tax advisors to manage the Funds’ flow and investor notices for investor drawdowns and distributions.
• Responsible for reviewing valuations and for presenting valuations to valuation committees.
• Assist in managing Fund cash and liquidity, including responsibility for Fund borrowing facilities and associated compliance monitoring and reporting.
• Monitor compliance with Fund LPAs and side letter agreements.
• Manage the complexity of the fund structures and governing documents such that fund operations reflect intended tax planning.
• Assist in the preparation of investor reporting outputs in order to ensure consistency with Fund financials, including updating Fund performance metrics on a regular basis.
• Liaising with the client solutions group for Fund/Investor financial information requests.
• Ensure there is adequate process documentation and control for your areas of responsibility.
• Oversee and monitor Fund cash outflows in accordance with ICG policy.
• Oversee and monitor portfolio administration activities.

ICG Group Reporting

• Review and approve Management Fees to Group Finance.
• Report AUM information to Group Finance.

Administrator Oversight

• Assist with fund administrator assessments and feedback including monitoring administrator delivery against SLAs and KPIs.
• Work with Operations to ensure that deals are correctly recorded in ICG in-house systems.

Key Requirements / Qualifications

You will have demonstrable experience of:

• Essential
• Qualified chartered accountant or equivalent.
• Advanced Excel & PowerPoint skills.
• Experience within Financial Services, possibly within a private equity or investment management firm, and/or with a fund administrator or accounting firm.
• Strong knowledge of fund financials and reporting issues.
• Desirable
• Thorough understanding of carried interest waterfalls and performance fee structures.
• International funds experience, preferably in both open-ended and closed-ended funds.
• Knowledge of IFRS / US GAAP / Lux GAAP.
• Experience working with LP Secondary Funds or high volumes of transactions.

Personal Attributes

• Highly organised with confidence prioritising to meet tight deadlines.
• Self-starter with ability to take ownership of responsibilities assigned.
• Commercial acumen.
• Efficient operational focus including automation and scalable data management.
• Strong written skills; must be fluent in English.
• Conscientious with excellent attention to detail.
• Excellent interpersonal skills and able to explain/discuss complex topics with non-specialists.
• A positive attitude and good teamwork skills.

Our Global Benefits Framework

• Wellbeing – Supporting your mental, physical and financial wellbeing as well as your lifestyle needs.
• Inclusivity – Fit for purpose and competitive, no matter who or where you are.
• Longevity – Long Term and sustainable in design.

Inclusion is one of ICG’s key values and we are committed to creating an equitable and inclusive workplace for everyone. By welcoming different perspectives, we strengthen ICG’s performance, enrich decision-making and contribute to better outcomes for our clients, colleagues, and the markets we serve. Accordingly, our recruitment processes provide equal employment opportunities to all applicants and employees, regardless of age, ethnicity, disability, sex, gender, sexual orientation, religion, or any other characteristic protected by local law. We are equally committed to delivering an inclusive and accessible candidate experience. If you require information in an alternative format, additional time for assessments, an adjusted interview schedule, or any other support during the recruitment process, please let us know.