Fund Accounting and Financial Reporting 101 – 1.1 Exploring the World of Funds
When I first started in the real estate investment division of an investment bank, I thought private Real Estate Funds were the entirety of private equity. Little did I know, the world of funds was much larger and more diverse. Over the past ten years, I’ve had the opportunity to work with numerous types of funds in various roles. My journey began with market research, valuation, and asset management, but my focus has been on fund accounting and financial reporting. I started with journal entries for transactions, progressed to reviewing entire books from fund administrators, and developed extensive expertise in running trial balances to finalize financials. Currently, I work with a General Partner, focusing on the intricate details of operating multi-billion-dollar funds.
This journey has been incredibly rewarding, and I’ve learned so much. That’s why I decided to share my experiences and insights with someone like me from ten years ago. If you’re already familiar with fund concepts, please feel free to skip this section. But if you’re new or looking to refresh your knowledge of private equity funds, welcome! Let’s dive into the basics and build a foundation for our upcoming fund accounting and financial reporting model.
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