One set of books.
Refracted into every report
your fund will ever need.

Prism is fund administration software for closed-end private capital funds. Capital calls, closings, waterfalls, investor statements, an LP portal, audit, tax and regulatory packs — all drawn from a single, bank-reconciled general ledger, so every number ties to every other number. By construction, not by month-end heroics.

Integrated balance sheet & P&L One ledger drives the balance sheet and P&L — stating the carry reservation, drilled-down call receivables and payables, and an unrealized result computed from your quarterly valuations.
Closings without spreadsheets Later closings rebalance earlier investors, compute catch-up fees and make-up interest automatically.
Audit, tax & regulatory Auditor pack, US Tax Pack (K-1 & K-3), ILPA reporting and AIFMD Annex IV filings — generated straight from the ledger.
Prism Fund Administration Private capital · Closed-end funds info@prismfundmanagement.com
The platform

Everything you expect from fund administration — connected

Funds, investors, commitments, calls, distributions and reporting live in one system that posts double-entry journals for every event. Nothing is re-keyed, so nothing drifts.

Funds & investorsMulti-fund, multi-entity. Feeder–master structures, GP vehicles, KYC and accreditation tracking.
Commitments & closingsMultiple closings per fund, transfers between investors, full commitment history.
Capital callsDrawdown notices per investor with fees, exemptions and settlement — generated, sent and tracked.
DistributionsReturn of capital, income and carry distributions with recallable tracking.
Investor capital statementsPer-investor capital account with a bridge that provably ties to the balance sheet.
PerformanceIRR, TVPI, DPI, RVPI and PICC — fund level and per investor, at any reporting date.
Multi-currencyForeign-currency funds and share classes with uploaded FX rates and period-end revaluation.
Report sign-offA guided period-close workspace: reconcile, review, sign off and publish per quarter.
Signature capability

The closing engine

Admitting investors at a second or later closing is the most error-prone moment in a fund's life — in Prism it is a workflow, not a spreadsheet project. Draft the closing, review every generated entry, then finalize: the system computes each investor's position as if all had joined on day one — applying each investor's management-fee and make-up-interest exemptions automatically.

Automatic rebalancing Zero-sum reallocation of capital between existing and incoming investors as pro-rata shares shift — journaled automatically, with no effect on fund equity or P&L.
Catch-up management fee Late joiners are charged management fee back to the fund's start, computed per investor and recognized as new GP income.
Make-up interest Late entrants pay simple interest on the capital they should have funded earlier; earlier investors are credited pro-rata to the capital they actually put at risk. The documented equalisation basis, zero-sum, reconciled to the cent — with a per-closing override for the figure your LPA or counsel specifies.
Cash before calls

Prepayment module

Cash received ahead of a call is held as an investor credit — visible on the balance sheet and applied to future notices. Early wires and in-kind contributions become a managed balance, not a reconciling item.

Flexible collection

Settlement of capital calls

A notice doesn't have to be settled with new cash. Prism settles calls from prepayment balances — in full or partially — and shows the split on the notice itself, so the investor sees how their obligation was met.

Fund structures

Feeder–master funds

Administer feeder and master funds as linked books: the feeder's calls and make-up interest flow into the master automatically, while each entity keeps its own reconciled ledger, statements and investor base.

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Accounting & cash

Real books, real bank statements — always in agreement

Prism is not a reporting layer on top of spreadsheets. It is a double-entry ledger where investor-facing reports and financial statements are two views of the same postings.

Financial statements

Integrated balance sheet & P&L

Every module posts journal entries, so the balance sheet, P&L and trial balance are always current — and always equal to the sum of the investor capital accounts. The bridge identity is tested continuously, not reconstructed at year-end.

Carry & equalization

Integrated waterfall & carry reservation

Carried interest is computed inside the system from actual cashflows — your carry rate, hurdle and GP catch-up — as if the fund liquidated at today's valuations. The reserve nets off carry already paid and any excess LP distributions, and reduces LP NAV until it crystallizes.

Bank automation

Auto-match bank allocations

Import bank statements (MT940 and more) and let Prism propose the allocation: incoming wires are matched to open capital-call notices by investor, amount and reference. Review, confirm, done — split and partial payments included.

Multi-currency

Forex rates, uploaded once

Upload exchange rates and every foreign-currency balance restates to the reporting date, with period-end FX revaluation posted as journal entries. Reports in fund currency and USD translation for tax packs come from the same rate table.

What it is — and why it matters

Cash reconciliation, explained

Cash reconciliation means that the fund's books are proven against its bank accounts, transaction by transaction — not just at the closing balance. In Prism, the bank statement is the starting point of the administration, not an afterthought:

1
Import the statements Actual bank transactions are loaded into the system — every wire in and out, in every currency, exactly as the bank reported them.
2
Allocate every transaction Each movement is assigned to what it really is: a capital call payment, a fee, an investment, a distribution, a prepayment. Auto-match does the bulk; you review.
3
Reports tie to cash Because reports are built from allocated bank reality, drawn capital, NAV and the balance sheet reconcile to the bank account at any date.
Reconciliation gives a detailed overview of what is called and what is actually spent.
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Regulatory reporting

File with the regulator, straight from the ledger

European private-fund managers carry a growing stack of supervisory returns. Prism builds them from the same reconciled books that drive your investor reporting — as validated, submission-ready files, not spreadsheets re-keyed by hand every quarter.

Signature capability

AIFMD Annex IV — DATAIF & DATMAN

The full ESMA reporting file for your AIF and its manager, emitted as validated XML that uploads straight to the national competent authority's portal. Prism aggregates the portfolio, principal exposures, concentrations and liquidity profile from the ledger, and checks the file against ESMA's own rules before you ever submit it.

Fund & manager files A DATAIF for the fund and a DATMAN for the AIFM, each named for its entity and emitted as portal-ready ESMA XML in the fund's base currency.
Built-in rule validation Every file is tested against ESMA's rev-6 conditional rules before download — the ranked exposure and concentration blocks foot exactly to reported assets under management.
Feeder, master & SPV Feeder-into-master look-through and standalone master-SPV DATAIFs, each filed on its own facts for every reporting date.
Sub-threshold managers

AIFMD Light monitor

Registered light-regime managers get a live assets-under-management test: the aggregate gross portfolio across every AIF the manager runs, measured against the regulatory thresholds — so you see a crossing coming before it happens.

De Nederlandsche Bank

MESRAP quarterly return

The DNB statistical report generated per quarter from the ledger, with the reporting-profile rows populated and the submission deadline computed for you — reconciled to the same equity your LP statements report.

Submission-ready

Validated XML

Files are schema-valid and rule-checked against the regulator's own published sample returns — a clean pass, or a precise list of exactly what to fix, before anything leaves the building.

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Audit & tax

Hand your auditor and tax preparer a finished pack

Year-end shouldn't be a data-gathering project. Prism generates the deliverables your auditors, tax preparers and LPs actually ask for — straight from the reconciled ledger, with built-in tie checks that flag any difference before you hand anything over.

Auditor Pack

A formatted, year-end evidence workbook: balance sheet, P&L, trial balance, investor capital accounts, movement schedules and sign-off status — consistent, referenced and ready for fieldwork.

US Tax Pack · K-1 & K-3

Per-investor tax-basis capital rollforwards (Item L/J), income by character, foreign-activity K-3 detail, and pointers for Forms 8865, 926, PFIC/CFC and FBAR/8938.

ILPA reporting

LP-facing reporting aligned with ILPA conventions — capital account statements, fees and carry disclosure in the format institutional investors expect.

Auditfile export

Export the ledger as a standard auditfile — direct input for annual-report generators and your accountant's analysis tools, so the statutory annual report starts from the reconciled books.

Investor access

Investor portal

LPs sign in for their capital statements, notices and published documents — plus email delivery, tracked per investor.

Reporting

WYSIWYG reports

Compose quarterly LP reports in a what-you-see-is-what-you-get editor — narratives, tables and figures laid out exactly as they publish.

Controls

Tie checks

Every pack self-checks: investor shares sum to fund equity, bridges close, zero-sum items net to zero — a green badge, or a red flag.

Period close

Sign-off workflow

Confirm bank balances, review reconciliations, sign off each section and lock. Publish to investors only when every section is signed off.

See your own fund in Prism

The fastest way to evaluate Prism is with your fund's real history. We migrate a fund — closings, calls, bank statements and all — and walk you through the reconciled result.

Get in touch — info@prismfundmanagement.com

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