Private Equity Real Estate Fund Account Manager

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 18 Oct 18

Private Equity Real Estate Fund Account Manager

Fund Services
This wholly owned subsidiary of Morgan Stanley administers over $200 billion of hedge fund assets. Using the Firm's proprietary, globally accessible technology platform, the business provides a full range of fund administration services, including daily accounting and financial reporting; transfer agency and investor services; middle and back-office support; and integrated portfolio analytics. Morgan Stanley Fund Services is supported by 700 professionals based in New York, London, Hong Kong, Dublin, Glasgow, Bangalore and Mumbai.
We are seeking a client facing Account Manager for our NYC office.


Principal Duties
• Managing approximately 1-5 client relationships
• Cooperating with the Firm's offshore operations and clients on day to day accounting, administration and financial reporting of a number of private equity/real estate clients
• Review private equity/real estate fund client's partnership agreements, PPM's and legal documents and participate in the implementation of fund structures onto the accounting system
• Review work-papers, call and distribution letters in accordance with fund governing documents
• Obtain and review supporting documentation from third party property managers/accountants and ensuring all fund expenses are accrued timely and in accordance with GAAP
• Review bank reconciliations and manage cash for wholly-owned and JV entities and recording journal entries, including closing journal entries for acquisitions and dispositions
• Preparing/reviewing monthly account closing procedures and ensuring compliance with established accounting procedures and controls including calculating and recording appropriate depreciation and amortization of fixed assets, tenant improvements, and leasing commissions.
• Preparing/reviewing investor allocations including managing drawdown and distribution activity and calculating management fees and carried interest
• Preparing/reviewing accounting journal entries related to standard accruals, management and incentive fees (calculated in accordance with fund documents), deferred compensation payables, derivative contract financing and broker financing
• Ensuring monthly valuations are reviewed and approved prior to distribution to clients and reviewed and approved by clients prior to distribution to investors
• Assisting client conversion teams with new client set up and accounting conversion implementation
• Identifying and implementing solutions to problems (accounting, operations, investor service)
• Leveraging firm resources as appropriate to strengthen control environment:
◦Coordinating year-end audit with client and independent auditors
◦Preparing/reviewing draft annual financial statements
• Bachelor's degree
• You have Private equity /Real Estate experience, ideally 5+ years in a client-facing and accounting related role
• Extensive knowledge of private equity fund structures and show proficiency in accounting for complex transactions, understanding investment fund legal, accounting concepts including:
-Offshore class/series accounting
-Partnership accounting
-Allocation of new issues
-Accounting for complex management and incentive fee terms (hurdle rates)
-Offshore fee deferrals
-Side-pocket accounting
-Realized and unrealized waterfall allocations
-Strong knowledge of US generally accepted accounting principles (GAAP)
-Experience in GAAP financial statement preparation, including strong understanding of private equity (master-feeder, mini-master, fund-of-funds)
-Strong team and interpersonal skills
-Strong communication, accounting, industry and relationship management skills
Skills Desired
• CPA a plus but not required
• Prior experience with a Private Equity, Hedge fund preferred
• Experience in using real estate accounting systems (e.g. MRI or Yardi) is a plus
• Sarbanes-Oxley 404 related experience or experience in SSAE 16 preparation a plus
• Tax knowledge and experience in tax return preparation a plus
• Knowledge of IFRS a plus