Private equity real estate fund accounting & administration.
Institutional-grade fund accounting, waterfalls, investor reporting and audit support for sponsors, GPs and family-office funds, delivered by specialists who work in real estate every day.
One team across the whole fund lifecycle.
Real estate private equity funds run on a precise mix of property accounting, investor accounting and legal terms. A late or inaccurate waterfall damages trust faster than almost any other error.
Kynetic Edge combines fund accounting and fund administration under one accountable team, so the GL, the capital accounts, the waterfall and the investor statements all tie together.
Closed-end & value-add funds
Multi-asset and single-asset funds with capital calls, preferred returns and promote tiers.
Syndications & JVs
Sponsor-led deals and joint ventures with GP/LP splits and project-level reporting.
Co-invest & SPV vehicles
Deal-by-deal structures that need clean, separate books and consistent investor reporting.
Family-office funds
Principal-focused reporting across directly held and co-invested real estate.
The numbers, built from the ground up.
From the fund ledger to the last property SPV, every balance traces to a source document and every distribution traces to the LPA.
Fund-level general ledger & close
A full GL at the fund, holding-company and property-SPV level, closed monthly or quarterly to a fixed calendar.
Investment accounting & NAV
Acquisition, capital expenditure and disposition accounting, with valuation inputs rolled into a clear NAV schedule.
Waterfall, promote & carried interest
Distribution waterfalls modelled directly from the LPA, recalculated every period and reconciled to what was actually paid.
Capital activity
Capital calls, distributions and recallable amounts tracked by investor against commitments, with clean notices on release.
Fees, expenses & allocations
Management fee, fund expense and organizational cost calculations that follow the fee terms of the LPA.
Debt & financing accounting
Property loans, fund-level facilities and credit lines accounted for accurately, with covenant data ready when lenders ask.
Investor-ready, every quarter.
The administrative layer that keeps investors informed and the fund compliant, without your team chasing data.
Investor onboarding & records
Organized investor records from subscription through to exit, so the register is always current and reconciled.
Investor reporting
Capital statements, quarterly reports and ad hoc requests delivered on a predictable cadence.
Treasury & payment support
Cash movement preparation and reconciliation so the money matches the notices.
Audit, tax & compliance support
Audit-ready schedules and a clean audit trail, so your auditors and tax advisors spend time on judgment, not chasing numbers.
Distribution waterfalls, modelled from your LPA.
We abstract the LPA into a documented waterfall model, run it every period, and reconcile the result to actual cash distributed. Tiers, hurdles, catch-ups and clawbacks are laid out so GPs and auditors can follow every step.
Walk us through your waterfall →Return of capital
100% to LPs until contributed capital is returned.
Preferred return
LPs receive their agreed annual hurdle, for example 8%, compounded as the LPA specifies.
GP catch-up
GP receives a defined share until it holds its agreed percentage of total profit.
Carried interest split
Remaining profits are split between LPs and GP, for example 80/20, with further tiers at higher IRR hurdles.
Illustrative structure only. Actual tiers, percentages and hurdles come from each fund's LPA.
Support from formation to final distribution.
Formation & launch
Chart of accounts, entity structure mapping, LPA term abstraction and reporting calendar set-up.
Capital raising
Closings, equalization, commitment tracking and investor onboarding records.
Investing & asset management
Acquisition accounting, capex, debt, property-level consolidation and NAV.
Operating & reporting
Monthly close, capital activity, waterfalls, investor statements and quarterly reports.
Realization & wind-down
Disposition accounting, final distributions, clawback review and audited final statements.
A complete reporting package, on a fixed calendar.
Deliverables are agreed up front, scheduled against your investor calendar, and prepared so your auditors, lenders and LPs get consistent answers.
Fund accounting questions, answered.
Do you act as the fund's independent administrator?
Kynetic Edge provides outsourced fund accounting and administration support to managers. We are not an independent auditor, tax preparer or law firm, and we do not replace your auditors, tax advisors or counsel. We work alongside them and prepare the schedules they need.
Which accounting framework do you work to?
US GAAP. For investment-company funds that means ASC 946 fair-value reporting, and for real estate operating entities we apply the relevant property and lease guidance, with tax-basis workpapers prepared in parallel for your CPA.
Can you take over an existing fund mid-life?
Yes. We start with a takeover review: trial balance, investor register, capital accounts, last waterfall and audit file, then reconcile to opening balances before we assume ongoing work.
What size of fund do you support?
Emerging managers, syndicators and family-office vehicles through to established sponsors that need dependable overflow or a full outsourced back office. Scope is sized to the number of funds, investors and assets.
Which platforms do you use?
We work inside the platform you already run, including Yardi, InvestNext, Investor Vision, Strongroom, Northspyre, NetSuite, Sage Intacct and QuickBooks, plus Excel-based waterfall models where those are the source of record.
Running a real estate fund?
Tell us about your fund structure and reporting calendar. We will outline how we would take on the accounting and administration.