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Fund administration agents

Every financial statement checked before it goes out.

The Financial Statement Review Agent checks each fund's statements against the trial balance, the prior period and the fund's own terms, across US GAAP, Lux GAAP and other frameworks. Your reviewers see only the exceptions, each with its evidence.

Check a statement setAll agents
Financial Statement Review

Harbor Point Credit Fund III / FY2025 statements

Statement set Annual financial statements
2 exceptions
Framework Lux GAAP
Pages 46
Exceptions 2
Checks
Checks on the FY2025 statements for Harbor Point Credit Fund III
Totals and notes tie Passed
Investments across pages Mismatch
Opening balances Passed
Management fee vs LPA Review
Segmental agent

Investments differ by €0.3M between two pages.

The balance sheet shows €412.6M at fair value. The schedule of investments totals €412.9M.

Source Balance sheet p. 4 · Schedule p. 11

Example: a year-end statement set with two exceptions, each tied to its source pages.
The problem

Why this is still manual

Financial statements are reviewed line by line by your most senior people, at the busiest time of the year. One fund can mean dozens of pages across the balance sheet, schedule of investments, notes and capital accounts, each under its own framework. An error that slips through is found later by the auditor, the GP or an investor.

Segmental has processed more than 50,000 financial statements across jurisdictions and accounting standards, including US GAAP and Lux GAAP, for a fund administrator with $2.5 trillion in assets.

Checks

What the agent checks

Ties and totalsEvery total adds up, and every figure in the notes ties to the primary statements.
Across documentsThe same figure matches on the balance sheet, the schedule of investments, the notes and the capital account statements.
Across periodsClosing balances carry forward to the next period, and unusual movements are flagged.
Against fund termsManagement fees, carried interest and allocations match what the LPA and side letters say.
Framework requirementsThe disclosures and presentation each framework requires are present, for US GAAP, Lux GAAP and others.
Your review checklistYour own checklist and past reviewer comments become rules too, approved by your experts.
How it works

From draft to release

  1. Load the statementsDraft statements from your reporting tool, with the trial balance and the fund documents.
  2. Run the checksDeterministic rules run on every page of every statement, the same way every time.
  3. Review the exceptionsEach exception shows the figure, the rule and the source on both sides.
  4. Release with a recordEvery check, decision and sign-off is kept for the auditor and for client questions.
In practice

Who uses it

Fund administratorsQuality control on every statement before it reaches the GP, across thousands of funds and several frameworks.
Self-administered managersThe same review for managers who keep fund accounting and reporting in house.
Scope

What it does, and what it doesn't

We would rather you know the boundaries up front.

What it does

  • Checks every statement in a reporting cycle, not a sample.
  • Links every exception to the figures and pages on both sides.
  • Learns your review checklist and past reviewer decisions as rules your experts approve.
  • Keeps a full record of what was checked, by which rule, and who signed off.

What it doesn’t do

  • It does not prepare the statements or replace your reporting system.
  • It does not give an audit opinion.
  • It does not change a figure. Every difference goes to a reviewer.
Pilot

How a pilot works

Every pilot runs on your own statements, in your own environment.

  1. Pick one reporting cycleBring one quarter or year-end of statements for a set of funds, with what your reviewers found.
  2. We build the checksFrom your checklist, fund documents and past review comments. First rules are ready to review within days.
  3. CompareMeasure issues caught, false flags and review hours against your current review.
The agent team

Works alongside the other agents

Every agent shares the same investor and fund record, so each one you add starts from what the others know.

Close & reportingCapital Account & NAV Review AgentTies capital accounts, fees and NAV back to the LPA and the source records.Learn more →Investor lifecycleInvestor Onboarding AgentReviews subscription documents, finds what is missing and drafts the follow-ups.Learn more →Investor lifecycleKYC AgentPrepares every KYC case with its checks run and the evidence attached.Learn more →NewTax Status & Withholding AgentValidates W-9 and W-8 forms, classifies investors for FATCA and CRS and proposes withholding.Learn more →Investor lifecycleSide Letter & MFN AgentCompiles side letter terms and runs the MFN election process.Learn more →

Bring one quarter of statements.

See what the agent finds in a reporting cycle you have already closed. It runs inside your environment, and first rules are ready to review within days.

Check a statement set