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Private Equity / Private Credit

Your fund's grunt work, handled

LP reporting, waterfall evidence, Form PF, portco data collection, investor onboarding, vendor risk, access reviews. Your CFO, CCO, and ops team split this across Allvue, DealCloud, 15+ portco dashboards, and compliance systems every cycle. PitCrew runs that work, flags what needs human judgment, and produces audit-ready evidence as a byproduct.

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The Reality

The grunt work that costs your firm time, money, and risk

summarize

LP quarterly reports take 2-3 weeks to assemble

40-page PDFs, 15+ data sources, every quarter

Controllers manually compile performance metrics, capital accounts, waterfall detail, and portfolio updates from different systems. Every quarter, the same assembly starts from scratch.

gavel

SEC exam focus on fees, valuations, and conflicts

$100K+ total exam cost in time and effort

Evidence spans multiple fund vintages across fund accounting, deal management, and email. The work was done. Proving it takes weeks.

calculate

Waterfall evidence and Form PF live in spreadsheets

Manual cell references as "audit evidence"

Waterfall calculations must match LPA terms exactly, but the proof is a spreadsheet. Auditors want step-by-step evidence your team spends days rebuilding.

security

Vendor risk and access controls across fund entities

12+ vendors, manual deprovisioning

Reg S-P requires breach notification clauses in every vendor contract. Access reviews across fund entities and portfolio company boards fall to a small ops team with no automation.

CFO CCO Head of Operations CIO

How It Works

The grunt work across every cycle

Finance, compliance, investor relations, IT security, and fund operations. Each tab shows what your team handles today and what changes with PitCrew.

Workflow
Today
With PitCrew
account_balanceCash Management and Treasury
Daily cash sweeps, unfunded commitment tracking, and credit facility draws. Data lives in fund accounting and bank portals. Your team reconciles cash positions across multiple accounts and entities every morning.
Cash positions reconciled across fund accounting and bank feeds. Unfunded commitment balances tracked. Discrepancies flagged before capital calls or distributions are processed.
swap_horizTrade Settlement (Credit Funds)
Private credit funds trade loans and bonds with T+2 or longer settlement cycles. Trade confirmations, settlement instructions, and position updates flow between your fund, counterparties, and administrators. Mismatches surface days after execution.
Trade confirmations matched against fund accounting records. Settlement discrepancies flagged same-day. Position breaks identified before they cascade into NAV or reporting errors.
cloud_downloadPortfolio Company Data Collection
Your team contacts portfolio companies for financial updates, board materials, and operational metrics. Data arrives via email, portals, and shared drives in inconsistent formats. Chasing missing reports is a recurring time sink.
Automated data collection from portfolio company portals and email. Missing reports trigger auto-reminders. Data extracted and normalized into your fund accounting format. Discrepancies flagged for review.
paymentsCapital Call and Distribution Processing
Capital calls require LPA-compliant calculations per LP class, side letter adjustments, and wire instructions. Distribution notices need waterfall math. Your team builds these from templates and fund accounting data, then routes for approval.
Capital call and distribution amounts calculated per LPA terms. Side letter adjustments applied automatically. Notices generated, routed for GP approval, and tracked through funding receipt.
Workflow
Today
With PitCrew
descriptionLP Statements and Reporting
40-page quarterly reports per LP class. Data from fund accounting (performance, capital accounts), deal management (pipeline), portfolio companies (updates), and compliance (side letters). Assembly takes 2-3 weeks. Every number needs a source citation.
Report assembled from connected systems with data source citations on every number. Performance metrics, portfolio company updates, and capital accounts compiled. GP reviews before distribution to LP portal.
account_balance_walletCapital Account Updates
Each LP's capital account must reflect contributions, distributions, allocations, and fees for the period. Multi-class structures with different fee terms and side letters create per-LP variations. Reconciling capital accounts against fund accounting takes days.
Capital accounts calculated per LP class and side letter terms. Reconciled against fund accounting. Variances flagged with specific cause. Controller reviews exceptions, not every account.
calculateWaterfall Calculations
European or American waterfall, preferred return tiers, catch-up, carried interest, clawback provisions. The math must match LPA sections exactly. Your team builds this in Excel with manual cell references. Auditors want step-by-step evidence tying each number to the governing document.
Waterfall calculated per LPA terms with step-by-step evidence. Each number traced to the specific LPA section. Output cross-checked against fund accounting. Auditor-ready documentation produced as a byproduct.
monitoringManagement Fee Billing
Management fees calculated on committed capital, invested capital, or NAV depending on fund stage and LP class. Side letters create per-LP fee reductions. MFN provisions ripple across classes. Your finance team calculates in spreadsheets and reconciles against fund accounting.
Fees calculated per LPA and side letter terms. MFN adjustments applied. Calculated fees compared to what was billed. Revenue leakage and overcharges identified. Evidence trail for auditors.
Workflow
Today
With PitCrew
fact_checkFund Audit Preparation
Annual fund audits require compiled financial statements, capital account reconciliations, waterfall verification, fee calculations, and valuation support. Your team spends weeks assembling the PBC list. Auditors request follow-ups that consume more time.
Audit evidence produced throughout the year as a byproduct of every workflow run. PBC list items mapped to existing evidence. Gaps identified before auditors arrive. Your controller reviews the package, not assembles it.
edit_documentForm ADV Filing
Form ADV Parts 1, 2A, 2B must be updated annually. Data spans AUM calculations, fund counts, employee counts, disciplinary history, and custody arrangements. PE-specific items include private fund reporting tables and fee disclosures.
Current firm data compared to prior ADV. Changes identified with justification. Private fund reporting tables populated from fund accounting. Amendment draft with redline for CCO and counsel review.
securityCybersecurity Assessment and Access Reviews
SEC expects annual cybersecurity risk assessments. Your fund operates across data rooms, investor portals, fund accounting, and deal management systems. Access reviews across fund entities and portfolio company board seats fall to a small ops/IT team. Deprovisioning when team members leave is manual.
Access logs pulled from connected systems. User permissions reviewed per entity. Deprovisioning tracked with confirmation. Assessment documented with evidence. Your team confirms findings, not assembles the package.
shieldVendor Due Diligence
12+ technology vendors across fund accounting, data rooms, investor portals, and deal management. Reg S-P amendments require contractual breach notification clauses. Annual vendor assessments mean reviewing SOC 2 reports and tracking contract terms. Most firms check if a SOC 2 exists without reading it.
Vendor SOC 2 reports read, gaps identified, contract clauses checked against Reg S-P requirements. Risk tiering applied. Your team reviews risk assessments, not raw 100-page reports.
Workflow
Today
With PitCrew
group_addInvestor Onboarding (KYC/AML, Subscription Docs)
New LP onboarding requires KYC/AML verification, subscription document review, accreditation checks, side letter negotiation, and setup in fund accounting and investor portal. Documents arrive piecemeal. Same data re-entered across 3-4 systems.
Subscription documents read and data extracted. KYC/AML checks run. Investor provisioned across fund accounting and portal. NIGO issues caught before acceptance. Side letter terms indexed for future reference.
handshakeFund Closings
Each closing requires subscription agreement processing, capital account setup, fee calculation adjustments, and LP portal provisioning. Subsequent closings add equalization interest calculations. Your ops team processes each investor manually.
Subscription docs processed in batch. Capital accounts set up per LP class. Equalization interest calculated per LPA terms. LP portal access provisioned. Closing documentation assembled for fund records.
gavelSEC Exam Response
SEC examiners request books and records, fee calculations, valuation methodologies, and compliance evidence spanning multiple fund vintages. Documents scattered across systems. PE-specific focus areas include fee allocation, co-investment allocation, and expense allocation.
Examiner requests mapped to evidence produced throughout the year. Fee calculations, waterfall documentation, and compliance records indexed and assembled. Your team reviews and submits, not searches.
descriptionSide Letter Management
Side letters create per-LP exceptions to fund terms: fee discounts, co-invest rights, MFN protections, reporting requirements, and transfer restrictions. Your team tracks these in spreadsheets. Missed provisions surface during audits or LP inquiries.
Side letter terms extracted and indexed. MFN provisions tracked across all LPs. Per-LP exceptions applied automatically to fee calculations, reporting, and capital account statements. Missed provisions caught before they become issues.

PitCrew Skills

8 Skills configured for your PE/PC firm

A Skill is an agentic workflow that connects to your systems, runs the work end-to-end, surfaces exceptions for your team to review, and produces a complete evidence trail. Our team configures each one to your fund's data, LPA terms, and approval workflows.

sync

Reconcile Data

Compare portfolio company financials against fund accounting records, bank deposit data, and prior period reports. Flags revenue discrepancies, missing submissions, and format inconsistencies across your 15+ portfolio companies before they cascade into LP reporting errors.

rule

Review Documents

Review subscription documents for completeness, side letters for MFN implications, vendor SOC 2 reports for security gaps, and LP reports for data accuracy. Flags issues before acceptance, distribution, or filing.

data_object

Extract Data

Pull structured data from capital call notices, K-1 drafts, subscription agreements, portfolio company financials, and SEC exam request letters. No more manual re-keying from PDFs into fund accounting, investor portal, or compliance systems.

price_check

Validate Fees

Validate waterfall calculations against LPA terms section by section. Check management fee calculations per LP class and side letter provisions. Verify carried interest, preferred return, and catch-up math. Identify revenue leakage and overcharges with step-by-step audit evidence.

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Onboard Entities

Onboard new LPs across fund accounting, investor portal, and compliance systems. Read subscription documents, run KYC/AML checks, extract side letter terms, and provision access. Also handles portfolio company onboarding into reporting workflows.

summarize

Generate Reports

Assemble LP quarterly reports, capital account statements, waterfall detail documents, Form PF data, and annual meeting materials. Data aggregated from fund accounting, deal management, and portfolio companies with source citations on every number.

monitoring

Monitor Drift

Continuous monitoring for portfolio company reporting gaps, capital account variances between fund accounting and administrator records, side letter compliance, and unfunded commitment changes. Detects issues before they affect LP statements or regulatory filings.

quickreply

Respond to Inquiries

Assemble responses to SEC exam requests, auditor PBC lists, and LP questions from your evidence trail. Every workflow run throughout the year produces indexed, timestamped evidence. When the request arrives, the evidence is already organized.

Integrations

Connects to the systems your fund runs on

Don't see yours? We build custom integrations for whatever your firm runs on.

Fund Accounting

  • Allvue
  • BlackRock eFront
  • FIS Investran

CRM / Deal Management

  • Intapp DealCloud
  • Salesforce
  • Affinity

Investor Relations

  • Juniper Square
  • Carta
  • InvestorFlow

Data Rooms

  • Datasite
  • Intralinks (SS&C)
  • Box

Accounting

  • NetSuite
  • QuickBooks
  • Yardi (RE PE)

Compliance

  • ComplySci
  • ACA ComplianceAlpha

Document Management

  • NetDocuments
  • Box
  • SharePoint

Productivity

  • Outlook
  • Teams
  • Excel

Frequently asked questions

Last updated:

How does PitCrew help with LP quarterly reporting?

PitCrew connects to your fund accounting system (Allvue, eFront, Investran), deal management (DealCloud), and portfolio company data sources. It collects data, normalizes formats, and assembles the full LP report with performance metrics, portfolio company updates, capital accounts, and waterfall detail. Every number includes a data source citation. Your GP reviews the assembled report before distribution to the LP portal.

How does waterfall calculation evidence work?

The Validate Fees skill reads your LPA and maps each waterfall provision (preferred return, catch-up, carried interest, clawback) to the specific section and clause. It then calculates the waterfall step by step, producing a document that shows the input data, the LPA reference, the calculation, and the result for each step. Auditors get the "show your work" document as a byproduct of the calculation itself, not as a separate manual assembly.

Can PitCrew help with Form PF preparation?

Yes. PitCrew compiles Form PF data from your fund accounting system, including AUM, borrowings, investor concentration, and portfolio company information. For large advisers ($2B+ in PE AUM) filing quarterly, this reduces the data collection cycle significantly. For smaller advisers filing annually, PitCrew assembles the data package well before the deadline. Your CCO reviews and attests before filing.

How does portfolio company data collection work?

PitCrew monitors portfolio company portals, email, and shared drives for quarterly financial submissions. When reports arrive, data is extracted and normalized into your fund accounting format. Missing submissions trigger automatic reminders. Discrepancies between reported financials and other data sources (like bank deposit records) are flagged for your team to investigate before the data flows into LP reports.

How is fund data protected?

PitCrew is SOC 2 Type II certified. Hosted on AWS with three-tier network isolation, encryption at rest (KMS), TLS 1.2+ in transit, and Multi-AZ deployment. Zero data retention after processing. Your data is never used for model training. Every access logged and auditable.

Stop proving the work was done. Start with a diagnostic

We review your systems, map the grunt work across fund operations, investor relations, compliance, and finance, and show you exactly where PitCrew fits. 15 working days from first call to production.

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verified SOC 2 Type II
delete_forever Zero Data Retention
cloud_done Hosted on AWS