FundCount
Investment management accounting software.
About FundCount
FundCount handles the full accounting cycle for alternative investment managers: partnership capital account tracking, multi-currency portfolio valuation, investor capital calls, distributions, and performance attribution — all within a single general ledger built for fund structures rather than adapted from a commercial GL. Day-to-day, that means allocating P&L across LP capital accounts, running NAV calculations, and producing investor statements without exporting to Excel first. It fits hedge funds, family offices managing complex portfolios across multiple vehicles, and private equity firms that need to track carried interest and waterfall calculations alongside standard fund accounting. If your current setup stitches together QuickBooks and a spreadsheet for LP allocations, FundCount replaces that patchwork. Where it falls short: implementation is heavy. Firms with simpler structures — a single fund, few investors, straightforward strategies — will find the complexity unnecessary and the cost hard to justify. There is no self-serve trial; you cannot evaluate the software without a sales engagement. The user community is smaller than Advent Geneva or Allvue, which means fewer third-party consultants and less peer documentation when troubleshooting.
Best for
Hedge funds, family offices, and private equity firms needing investment management accounting
Key Features
- Partnership capital account tracking and allocations
- Multi-currency portfolio valuation and P&L reporting
- Automated investor capital call and distribution processing
- Performance attribution analysis with benchmark comparisons
- Consolidated fund accounting across multiple investment vehicles
Pros & Cons
Pros
- Partnership capital account allocations are handled inside the GL — no separate allocation tool or Excel bridge required
- Multi-currency portfolio valuation and P&L reporting runs across asset classes without manual rate entry when connected to Bloomberg or Reuters feeds
- Investor capital call and distribution processing is automated, including notices and statement generation
- Performance attribution compares fund returns against benchmarks at the position and portfolio level, not just at the fund level
- Consolidated reporting across multiple funds and legal entities from a single instance, useful for family offices running parallel vehicles
- Prime brokerage and custodian feeds reduce manual trade entry and reconciliation time for active trading strategies
Cons
- Pricing is quote-only with no published tiers — you cannot estimate annual cost without a sales call, which delays budget approval for smaller firms
- Implementation timelines for funds with complex structures routinely run months, not weeks, requiring internal staff time and often third-party consultants
- Smaller install base than Geneva or Allvue means fewer independent consultants, fewer community forums, and slower answers when you hit an edge case
- Feature depth creates real onboarding overhead — staff trained on simpler fund accounting tools face a steep learning curve
- Firms running straightforward single-strategy funds will pay for partnership accounting infrastructure they do not use
- Integration with non-standard custodians or niche prime brokers may require custom feed development at additional cost
Ledger Brief Take
Built specifically for alternative investment managers who need partnership accounting beyond what traditional GL systems can handle. The multi-currency portfolio management and investor reporting workflows are purpose-built for hedge funds and PE shops, not retrofitted from general accounting software. Expect enterprise-level complexity and pricing to match the specialized functionality.
Frequently Asked Questions
Common questions accountants ask about FundCount.
What does FundCount cost?
FundCount publishes no pricing. All contracts are negotiated directly with the sales team. Expect enterprise-level pricing reflecting specialized fund accounting functionality. Budget conversations cannot start until you complete a demo and scoping call, which adds weeks to evaluation timelines.
Does FundCount integrate with QuickBooks or Xero?
No published integration with QuickBooks or Xero exists. FundCount is a standalone fund accounting GL, not an add-on to a small-business accounting platform. If your firm runs QuickBooks for entity-level books alongside a fund, FundCount does not replace that setup — it replaces your fund accounting layer specifically.
How does FundCount compare to Advent Geneva?
Geneva is the dominant platform for large hedge funds and has a deep third-party consultant ecosystem. FundCount targets the same segment but is typically chosen by mid-sized funds and family offices that find Geneva's pricing or implementation requirements excessive. FundCount's partnership accounting workflows are comparable; Geneva has a larger install base and more integration partners.
Is FundCount suitable for a family office with no dedicated IT staff?
It depends on portfolio complexity. A single-family office managing diversified public and private assets across multiple entities is a reasonable fit. A family office with one or two simple portfolios will find FundCount over-engineered. Implementation requires IT involvement regardless of staff size, and ongoing administration assumes some technical capacity.
How does FundCount handle data security and where is data hosted?
FundCount offers both cloud-hosted and on-premise deployment. Specific security certifications and hosting infrastructure details require direct confirmation from the vendor during the sales process. Firms with strict data residency requirements should ask about regional hosting options before committing to evaluation.
Can FundCount handle waterfall and carried interest calculations for private equity?
Yes. Waterfall and carried interest calculations are supported within the partnership accounting module. PE firms use this to model distribution waterfalls across LP and GP interests. Complex multi-tier structures with hurdle rates and catch-up provisions are configurable, though setup requires careful mapping during implementation.