PORTFOLIO OPERATIONS FOR LIMITED PARTNERS
Portfolio transparency, without the platform overhead.
Quarterly reporting, capital account reconciliation, and GP document monitoring for family offices, fund-of-funds, and institutional LPs, delivered as a hands-on service, built around the systems you already use.
The back office most LPs are missing
Most LP back offices track capital calls, distributions, K-1s, and quarterly GP reports through a patchwork of email, PDFs, and spreadsheets, workable until the number of GP relationships grows past the point where anything can be tracked from memory.
Altegra Ops takes this on as a contractual, hands-on service: the document processing and reporting rigour of an institutional portfolio monitoring platform, delivered by an operator with 10+ years building exactly these workflows for LPs in alternative assets. Without a software license or a six-month implementation project.
Document management, or LP reporting - or both
Two distinct services, sold together or separately. Start wherever the pain is worse, add the other when you're ready.
Built around your system
Work runs on your existing portfolio monitoring platform, data aggregation tool, or an internal process and not a migration to something new.
A specialist, not a platform
10+ years inside the exact workflows family offices, endowments, and fund-of-funds rely on, applied directly to your portfolio.
WHAT CHANGES FOR YOU
SERVICES
Document management
Every GP document, captured, categorized, and easy to find - not buried in an inbox.
Ingestion of capital call notices, distribution notices, K-1s, quarterly / annual GP reports, amendments, and side letter correspondence
Categorization and tagging by fund, document type, and reporting period
A structured, searchable document repository, accessible any time
Deadline tracking and alerts ahead of capital call funding and distribution confirmations
Document management solves "we can't find anything." LP reporting solves "we don't know our numbers." Take one or both, whichever matches where the pain actually is.
Two services. Together or separate.
LP Reporting & Data Enrichment
Raw GP data, turned into the numbers your investment committee actually needs.
Data enrichment - normalizing raw GP-reported figures: cash flows, NAV, capital account rollforward, IRR / TVPI / DPI / RVPI
Exposure reporting - by strategy, vintage year, and geography
Look-through exposure - underlying holdings mapped across overlapping fund positions, by sector, geography, and asset
Capital account reconciliation against LPA terms, side letters, and fee / waterfall calculations
Recurring transparency reporting, delivered on your cadence
HOW IT WORKS
Steps 1–2 for Document Management. All six for both services.
What LP Reporting output actually looks like
Sample report for exposure by fund strategy.
The Exposure by Strategy graph gives Limited Partners (LPs) an instant snapshot of portfolio diversification across core alternative asset classes—such as Private Equity, Venture Capital, Private Credit, Real Assets, and Hedge Funds. Designed as a quarterly transparency visual, it helps LPs assess concentration risk and ensure their investments remain aligned with target allocation benchmarks. Like all modules, this view is completely customizable: We can ingest your firm’s specific multi-asset data, define custom strategy taxonomies, and tailor visual styles to fit your preferred reporting standards and branding.
Exposure by strategy
Sample cash flow summary by quarter
The Capital Called vs. Distributed chart delivers a quarter-by-quarter breakdown of cash movement, contrasting capital drawdowns against distributions returned to LPs over the course of the year. By mapping capital calls above the baseline and distributions below across Q1 through Q4, investors gain clear visibility into deployment pacing, liquidity requirements, and net capital realization. This cash flow engine can be flexibly configured to match your reporting preferences allowing you to adjust time horizons (monthly, quarterly, or YTD), filter by specific fund vintages or manager tiers, and present metrics tailored to your operational needs.
Capital called vs Distributed
Building Your Reporting Infrastructure
For clients building out a new reporting or document management system, or customizing a CRM to their own requirements, we help design and configure the structure around how the team actually works. That starts with understanding how information moves through the organization today: who needs what, how often, and in what format. From there, we work through taxonomy and tagging logic, document categorization rules, reporting templates, and data field structures, so the system reflects the team's actual workflow rather than a generic default. We also help think through intake and update processes, so the structure holds up as new funds, documents, and reporting periods are added, not just at launch. The goal is a system your team can run on its own once it is built, not one that depends on us to keep functioning.
These are genuinely separate services, priced and scoped independently. Some clients start with Document Management alone and add LP Reporting once the documents are under control. Others need both from day one.
ENGAGEMENT MODEL
Monthly retainer — priced per service, scoped to GP relationship count. New engagements start with a discounted pilot quarter.
No two LPs run the same way. Some teams need help with one GP relationship that's gotten complicated. Others need coverage across forty GPs and three reporting cadences. There's no standard tier to fit into. Every engagement starts with understanding how your team works today, what's breaking down, and what a workable process looks like for you specifically, then scope and pricing follow from that.
TWO WEEKS PILOT
Start with a two week pilot
Before committing to a retainer, put a defined piece of work in front of us and see what comes back. Pick one of three tracks. Fixed fee, fixed scope, no ongoing commitment. We work alongside whatever platform you already run, not in place of it.
GP document backlog
Up to 15 GP relationships, twelve months of documents.
Documents categorized and consistently named across managers
Metadata index covering manager, fund, document type, period and key figures
Obligations and deadline calendar for the period covered
Gap report showing what is missing, inconsistent, or worth chasing
Capital account reconciliation
Up to 15 positions, one quarter.
Reconciliation workbook, GP statements against your own records
Exception log listing every discrepancy with a proposed resolution
Position level summary of commitments, called capital, distributions and NAV
LP reporting
Up to 5 GP relationships, one quarter.
Position data normalized into one consistent format across managers
Look-through exposure by strategy, vintage, geography and sector
Performance statistics including IRR, TVPI, DPI and RVPI
A quarterly reporting package ready to put in front of your investment committee
€2,499
Fixed fee for any one track. No hourly billing and no change orders.
10 Business Days
From the point we receive your documents and access.
We take a limited number of pilots at a time, so scoping starts with a short call to confirm the work is a fit.
Credited in full
If you move to a monthly retainer, the pilot fee comes off your first month.
What we need from you
Statements and reports for the managers and period in scope
Your current records in whatever form they exist, including a spreadsheet
One person we can send questions to
Roughly an hour of your team's time at the start. Nothing after that until we deliver.
How we handle your data
We work inside your environment wherever possible. Give us guest access to your existing document storage and your data never leaves your control.
Where that is not practical, files are held in business tier cloud storage under a data processing agreement, with multi factor authentication and access limited to the people working on your engagement. Devices are encrypted.
Working files are deleted within 30 days of final delivery and we confirm the deletion in writing. Every engagement starts with a mutual NDA and a one page data handling summary.
ABOUT
10+ years in LP back-office operations, now working directly for you
We've spent the last decade-plus inside the back-office operations of alternative asset investing, building portfolio transparency reporting and document processing workflows for limited partners. That means the specific, unglamorous work of turning capital call notices, distribution notices, and K-1s into something an investment committee can actually act on.
Family offices, endowments, and fund-of-funds increasingly need this rigour but don't need or want to pay for a full platform license and implementation project. That's the gap this practice fills: the same discipline and process quality, delivered as a direct, contractual engagement built around how your team already works.
We do not ask clients to change platforms. Across GP document management and LP reporting, our team has direct, hands-on experience working within the systems our clients already rely on, including Dynamo Software, Juniper Square, InvestorFlow, Intralinks, Datasite, iDeals, Firmex, ShareVault, Venue, DataExchange, Box, ShareFile, Morgan Stanley Matrix, Fund Panel, eFront, Allvue (AltaReturn), SS&C, Alter Domus, Ark, SEI, CITCO, HedgeServ, Stone Coast, and Carta.
HOW WE WORK
Direct, not layered through account managers or a support queue
Flexible to your existing systems, not a forced migration
Scoped clearly upfront, you'll know exactly what's included before anything starts
The fastest way to know if this is a fit is a short call - no proposal or pitch deck needed upfront. Send a note with a bit about your current process and we'll follow up to find a time.
Let's talk about your portfolio reporting
