Assure provides a full range of best-in-class administrative services for special purpose vehicles (SPVs) and the investors who use them, including:
- Consult with client to help determine optimal SPV or fund structure and setup.
- Form regular or series LLC or LP, as appropriate.
- Register entity in the applicable state.
- Obtain an EIN on behalf of the entity.
- File a foreign entity registration in all applicable states.
- Hire an effective registered agent for the entity.
- Provide useful template SPV of fund documents, including operating agreement/limited partnership agreement, PPM and subscription agreement.
- As needed, review investment documents and suggest adjustments or side letters.
- Set up a bank account to aggregate commitments, as needed.
- Record receipt of documentation and wire transfers from investors.
- Maintain files for each investor, create and maintain a ledger of investor information.
- Track investor ownership percentages and expense allocations.
- As needed, assist with multiple closings.
- Assist in closing transactions by obtaining and aggregating executed documents and transmitting capital to company or sponsor.
- Make appropriate book entries reflecting the use of proceeds from the sale of SPV or fund interests to investors.
- Account for the wiring of funds to the portfolio companies or sponsors.
- As needed, assist with follow-on (pro rata) investments.
- File notice of the SPV's offering(s) with the SEC.
- Complete any applicable blue sky state filings.
TAXES AND K-1 SERVICES
- As needed, prepare and file an annual Form 1065 partnership tax return.
- Preparation of Schedule K-1s to investors and, as needed, assistance with K-1 distribution through the Assure portal.
- Prepare and provide capital account statements to investors.
- Pay ongoing SPV expenses, primarily: (a) LLC/LP formation and registration fees; (b) tax filing fees (as needed); (c) registered agent fees; (d) foreign registration fees.
- Assist with completing post-close requests related to the SPV investment(s).
- Assist with waterfall calculations and periodic distributions to investors.
- Provide online portal for both client and its investors to securely and conveniently share documents like; K-1s, executed investment documents and other statements.
- Manage or assist with distribution of cash, stock or other proceeds, as needed, in a liquidity event.
- Shut down the SPV upon completed exit.
- Prepare final tax return and distribute final K-1s.
GLASSBOARD by ASSURE
- Glassboard is Assure’s collaborate productivity tool.
- New Deal Form - Clients submit the details of new deals through a client dashboard
- Blue Sky Calculator - Allows clients to calculate Blue Sky expenses to assist in estimating deal costs.
- View Deals - Details on formerly closed deals.
SEPARATE SERVICES (additional fees apply)
- Prepare and distribute SPV financial statements on an annual, semi-annual or quarterly basis.
- Provide annual account statements to accompany K-1s.
- Prepare and distribute annual documents to CFOs to verify SPV investment and the accuracy of the deal’s details.
- GP LLC entity setup.