Most private equity and venture capital funds with less than
$150M assets under management cannot afford to hire a full-time
CFO, nor do they need a full-time CFO. Lamplighter’s
professionals have experience working as CFOs of private equity
firms and provide an affordable, flexible solution to small
funds.
Fund accounting requires a unique skill set that escapes many
CPAs and traditional corporate CFOs. Lamplighter’s PE CFO
professionals are proficient in fund accounting, understand the
unique requirements of institutional investor relations, and are
well-versed in managing due diligence processes during
fundraising.
Lamplighter provides Outsourced CFO Services for the fund, the
general partner, and the management company. Our
professionals are well-versed in fund accounting and understand
the symbiotic relationship between these three entities.
Most fund administrators or PE CFO outsourcing firms will
only serve the fund, leaving the general partner with the need to
still hire someone else to handle the general partner’s and the
management company’s books. Lamplighter’s ability to handle
all three entities sets it apart in the industry.
The Dodd-Frank Wall Street Reform and Consumer Protection Act
(“Dodd-Frank”) requires that asset managers with between $25M and
$100M assets under management register with either the state in
which they maintain their principal place of business, or with
the SEC. Furthermore, Dodd-Frank augmented SEC rule 206(4)-7 to
require asset managers to have a defined compliance program,
including:
Designate a Chief Compliance Officer to be responsible for
administering the compliance policy and procedures
Design a compliance program, including written procedures
reasonably designed to detect and prevent violations of the
Adviser Act
Lamplighter can help streamline your fundraising due diligence
process. Our professionals have experience fundraising and
interacting with due diligence teams from some of the top
institutional investors in the U.S. We are able to make the
fundraising process more proactive instead of reactive when it
comes to responding to due diligence requests.
Lamplighter’s Investment Due Diligence Services help private
equity firms get more deals done. When the investment team
is overwhelmed with deal flow, portfolio management, and
fundraising, Lamplighter’s due diligence team can add value by
increasing bandwidth and getting deals across the finish line.
Because Lamplighter focuses on transactions, our
professionals have broad experience across many industries that
allows them to perform both quantitative and qualitative due
diligence in a short period of time.
Not all portfolio company finance teams are created equal.
Lamplighter can supplement existing finance teams who need
guidance and direction. A common situation where Lamplighter can
be helpful is when the existing CFO leaves the portfolio company.
We can plug our professionals in on a part-time basis to keep
things running and assist with the hiring process for a new
full-time CFO. Alternatively, we can plug our professionals in
for longer term engagements where the portfolio company may not
need a full-time CFO. Lamplighter works with private equity firms
to find flexible, affordable solutions for their portfolio
companies.
