Exactly right, every period.
That's the expectation from investors. We provide portfolio accounting, investor accounting, and everything between them — run and independently verified by professionals who've spent their careers inside fund operations.
Support for venture, private equity, credit, secondaries, real estate, and hedge strategies.
Managers rarely call about a category.
They call about a situation.
Is one of these happening in your fund this quarter? Then the first conversation will be worth your time.
“We're raising our first fund.”
First close is imminent and there's no back office yet. We set up banking, help select the administrator, write the policies, and run the first close.
“Our numbers don't tie.”
Your internal records, your administrator's reports, and your bank statements each tell a slightly different story. We find exactly where and why they disagree — and own the reconciliation.
“Lean team, complex book.”
A small back office carries multi-entity structures in spreadsheets. We handle the close, the calendar, and the reporting timelines — your team moves to higher-leverage work.
“Audit season is a fire drill.”
PBC lists churn, sign-off stalls, auditors lose patience. We own the PBC list and keep support filed at the moment work happens — audits run from documentation, not memory.
“LPs are running diligence on our operations.”
The ODD questionnaire asks about controls nobody wrote down. We answer it with you — and build the documentation so the next request is a filter, not a fire drill.
“Our administrator worries us.”
Deadlines slip, teams turn over, and LPs catch errors before you do. We document the gaps and tighten oversight — or manage a full transition to a new administrator.
Six services. One discipline.
Keeping the flows between portfolio accounting and investor accounting clean, current, and provable — so the numbers that display your fund's performance are numbers you can stand behind.
The Fund Operations Review
The entry engagement: we map how your fund actually runs — your administrator's official books, your internal records, and the bank and vendor documents behind them — identify every disagreement, and deliver a full remediation plan.
Independent verification
Management fees, NAVs, waterfalls, and allocations re-computed against fund documents and source records — before they reach investors.
Ongoing fund operations
Fund closes, the reporting calendar, capital calls, distributions, financial statement preparation, and the administrator relationship — managed end to end.
Treasury, cash & collateral
Cash movement discipline, margin and collateral operations for active strategies — with segregation of duties built into every movement.
Audit & diligence readiness
We own the PBC documentation, coordinate the audit, and support operational due-diligence requests from LPs and allocators.
Fund launch operations
Banking, administrator selection, policy creation, and the operating calendar — set up correctly the first time, at first close.
Digital-asset strategies considered case by case.
We work for the fund manager — alongside your administrator, your auditor, and your counsel, not in place of them.
Your administrator keeps the official books and records. We keep an independent shadow of them — reconciled against your banks, your vendors, and every record that touches the fund. So when our numbers agree with theirs, that agreement means something.
And everything we run is digitized, documented, and kept in one place that stays with you — an insurance policy for the firm, so your operations are never a hindrance to your growth.
Proof before commitment.
A conversation
Thirty minutes with a principal about your current setup — how the books flow and where the friction is. No deck, no preparation, no commitment. If your ship is tight, you'll hear that.
The Fund Operations Review
We map how your fund actually runs — your administrator's official books, your internal records, and the bank and vendor documents behind them, all checked against your fund documents — and deliver the full analysis and remediation plan. You judge us on the quality of the findings.
The retainer
Most clients then engage us monthly, shaped around their closing cadence — we operationalize the Review's plan and run it, period after period.
What fund managers ask on the first call
“What about our existing fund administrator?”
Keep them — they hold the official books and records; we keep the independent shadow of them. We work on your side of the table: we manage the administrator relationship, verify what they produce against every other record of the fund, and own what they don't — the judgment, the calendar, and the documentation. If the Review shows you need a new administrator, we'll help you choose one.
“What does an engagement look like?”
A conversation about your setup, then typically the Fund Operations Review, then a monthly retainer shaped around your closing cadence. Each step earns the next — nothing is sold on faith.
“What do you charge?”
Retainers are priced on the fund's complexity, not its AUM, and estimated after the first conversation. The Review is an upfront fixed fee — credited against the retainer if we engage.
“How big is your team?”
Small, by design — senior people, no pyramid. Everything we run is digitized and documented in one place: the procedures, the calendars, the reconciliations. That documentation is yours — so the operation never depends on our headcount, your headcount, or anyone's memory, and your back office never has to grow just because your fund does.
“Do you work with our strategy?”
The accounting differs; the discipline doesn't. Venture, private equity, credit, secondaries, real estate, and hedge strategies are all in scope. Digital-asset funds case by case.
“How do we know it's working?”
You'll see it: reconciliations on a calendar instead of at audit, investor questions answered same-day from the records, and an audit season that runs from documentation instead of memory.
The principal on the engagement
Kyler Thomas, CFA, CPA
Kyler has worked in fund accounting and operations since 2010: six years in Northern Trust's Hedge Fund Services group, four years at Carta serving the full spectrum of fund strategies and structures, and Director of Operations, Fund Controller, and Treasurer at a Southern California structured-product hedge fund — responsible for daily portfolio operations, money movement, and the ongoing close and reporting cycles.
He is a CPA (Illinois), a CFA charterholder, and holds degrees in finance and accounting from the University of Illinois Urbana-Champaign. He founded Altius Ops in January 2026.
Small, by design. Fund operations fail when delegated down a pyramid. Every engagement is delivered by a small senior team, and everything we run is digitized, documented, and owned by you — so nothing depends on any one person, including us, and your operations never stand between you and the next fund.
Walk us through your current setup.
Thirty minutes with a principal, about your fund — not a pitch. If your ship is tight, you'll hear that.
We reply within one business day.
Not ready to talk? Take the Self-Review — twenty questions, five minutes, and your answers never leave your browser unless you choose to send them.