Fund Controller

StepStone, La Jolla

Solutions that span Private Markets

Position Overview

The Fund Controller will be responsible for management and oversight of the day-to-day accounting and financial statements of the Company’s fund partnership vehicles focused on investments in primary and secondary limited partnership investments and direct equity co-investments.  In this position, the Fund Controller will manage a team of accountants and various fund administrators. The Fund Controller will also work closely with the Company’s CFO and Director and provide support to the Investment team.

Essential Job Functions:

  • Manage and oversee a portfolio of funds, which includes but is not limited to:
    • Reviewing all work prepared by team members or the fund administrator
    • 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
    • Respond to investor requests in a timely manner
    • Perform other duties as requested or as responsibilities dictate
  • Support the investment team, which includes:
    • Running and signing off on the allocation wheel
    • Reviewing valuations & managing the valuation process
    • Providing support for KYC/AML information and other documentation needed for new investments
    • Understanding the structure of new investments, including the reporting and tax implications
    • Reviewing legal agreements
  • Perform Treasury management functions, including
    • 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
  • Manage a team of accounting professionals, including
    • Managing the day to day operations of the accounting team
    • Coordinating the work of the accountants to ensure the consistency and quality of work produced
    • Mentoring and training team members
    • Review all work prepared by the team
    • Coordinate deliverables across the team to ensure deadlines are met
  • Perform other duties as required, including but not limited to:
    • Identification and support for additional resources
    • Review of K-1s and support for tax reporting and analysis of
    • Set up of new Funds, including obtaining EIN, tax filings, opening bank accounts
    • Support for the compliance, including preparation of materials for ADV, Form PF, SLT, etc.
    • Lead department level projects or initiatives
    • Represent the department in cross-department initiatives

 Education and/or Work Experience Requirements:

  • CPA preferred
  • Must possess a four-year college degree with a major in Accounting
  • Five to ten years of private equity partnership accounting experience, with several years in a management or leadership role. Ideal candidates with SEC registered investment advisors
  • Ability to multi-task and manage priorities against key deadlines
  • Previous experience with ASC 820 (FAS 157) and FIN 48
  • Must be able to work independently, but contribute in a team-oriented environment
  • Strong Microsoft Excel experience
  • Strong verbal and written communication skills

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.


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