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Accounting Manager - Private Equity

StepStone, La Jolla, CA

Solutions that span Private Markets


StepStone is a rapidly growing Global Private Markets firm who provides customized investment and advisory solutions to some of the most sophisticated investors in the world. With $570 billion of total capital allocations, including $134 billion in AUM, we are highly diversified in the private markets across the globe and provide creative solutions to solve for the objectives of any investment program.  With a culture built on entrepreneurialism, partnership and being a team within teams, our firm offers joiners the opportunity to think out loud, collaboratively.

Essential Job Functions:

The Accounting Manager will be responsible for management and oversight of the day-to-day accounting and financial statements of a portfolio of fund partnership vehicles invested in primary and secondary limited partnership investments and direct equity co-investments. The Accounting Manager will work directly with the Fund administrators and the Fund Accounting team.  As needed, the Accounting Manager will review the work of less experienced team members.

  • Manage and oversee a portfolio of funds, which includes but is not limited to:
  • Review work prepared by the fund administrator
    • Tracking and reconciliation of investment cash flow activity
    • Recording and/or reviewing accounting entries in the company’s accounting and reporting systems  
    • Reviewing and reconciling cash and investment accounts with General Partner reports  
    • Reviewing of investment partnership reports
    • Inputting and reconciliation of capital account activity
    • Review and/or prepare quarterly unaudited and annual audited financial statements in accordance with GAAP
    • Coordinate preparation of annual audits with outside CPA firm
    • Compute partner allocations and produce capital account statements
    • Manage process for delivering quarterly and annual investor reports and other ad-hoc communications
  • Review performance reports prepared by the SPAR team
  • Calculate and distribute investor capital call and distribution notices
  • Understand partnership agreements and interpret reporting requirements and partner economics
  • Calculate management fees, distribution waterfalls and carried interest
  • Corresponding with General Partners regarding accounting/reporting questions, or other issues, as necessary    
  • Corresponding with underlying investors regarding questions, requests, etc.
  • Respond to investor requests in a timely manner
  • Perform other duties as requested or as responsibilities dictate
  • Perform Treasury management functions, including
    • Review and/or approve wire templates and wires
    • Monitor the Fund’s cash positions and prepare cash projections as needed
    • Manage the Fund’s line of credit facilities, including arranging borrowings and repayment, quarterly compliance certificates, review of interest and unused fee calculations
  • Perform other duties as required, including but not limited to:
    • Review of K-1s and support for tax reporting and analysis of tax matters
    • Set up of new Funds, including obtaining EIN, tax filings, opening bank accounts
    • Support for the Compliance team, including preparation of materials for ADV, Form PF, SLT, etc.

Education and/or Work Experience Requirements:

  • Experience with accounting for private equity partnerships and fund of funds
  • CPA Preferred
  • A Bachelor’s Degree in Accounting with 5-7 years' professional accounting experience
  • Experience with SEC registered investment advisors
  • Familiarity with investment partnership reporting
  • Knowledge of accounting principles and financial reporting concepts
  • Utilization of QuickBooks or other accounting-based software
  • Previous experience with ASC 820 (FAS 157) and FIN 48
  • Experience training and managing junior professionals and reviewing the work of others 

Other Desired Skills/Attributes:

  • Strong written and verbal communication skills
  • Ability to maintain strict confidentiality of client, investment and company information
  • Ability to prioritize activities while working on multiple projections and achieve target deadlines
  • Ability to problem solve and leverage technology
  • Acute attention to accuracy and detail
  • Professional demeanor and an ability to work well in a team environment
  • Highly proficient in using Excel, Word, and other Microsoft office programs
  • Willingness and ability to learn and implement new programs and processes

 

About us

Working out of 23 offices in 14 countries, StepStone has a truly global viewpoint.  As people are our biggest asset, we offer resources to help our employees reach their full potential.  Our principles are based on integrity, transparency, respect and creativity, which together define how we do business.  

Join us

When you choose to work at StepStone, you'll find a group of professionals who are passionate about anticipating changes, solving problems and working together to make it all happen. Our integrated global team shares insights into how managers think and operate, as well as how they might perform.  

Disclaimer / Policy Statements

At StepStone, diversity, equity and inclusion are an integral part of our culture. We are an Equal Opportunity Employer that strives to create an inclusive environment that empowers our employees and allows them to be heard, regardless of title or tenure.  Our organizational community features multiple Employment Resource Groups representing our dedication to Diversity, Equity & Inclusion.  

Developing People at StepStone

Your employment will also be subject to various firm policies and guidelines, including return to workplace guidelines for your office (which require, where legally permitted, all U.S. employees to have their vaccinations against COVID-19 up to date in order to enter one of our offices or attend a firm-sponsored event).

 

About StepStone

StepStone is a global private markets firm providing customized investment and advisroy solutions to some of the most sophisticated investors in the world. With more than $230 billion of total capital allocations, including over $35 billion in assets under management, we cover the spectrum of opportunities in private markets across the globe. We prudently integrate fund investments, secondaries and co-investments across private equity, real estate, infrastructure and private debt to create solutions that are customized according to the objectives of any private markets investment program.

StepStone

Want to learn more about StepStone? Visit StepStone's website.