Management fees, calculated and approved

Set your fee terms once and Covercy One works out each period’s management fee by share class, flags any period you missed, and proposes the fee run for you to approve. Fund expenses are recorded in their ILPA categories and reach every investor statement.

Book a Demo

Management fees · Class A

Lakeshore Credit Fund II · 1.75% of committed capital · quarterly in advance

Fee terms

Cycle	Fee	Status
Q4 2025	$35,000	Recorded
Q1 2026	$35,000	Recorded
Q2 2026	$35,000	Missed
Q3 2026	$35,000	Due
Q4 2026	$35,000	Upcoming

Proposed fee run · Q3 2026 · $35,000 across 4 positionsReview & approve

Fee terms

Your fee terms, the way your LPA reads

Each share class carries its own fee terms with a rate, a cadence, and the basis your limited partnership agreement (LPA) uses. Terms are kept as a dated history, so a step-down or amendment never rewrites past periods.

On committed capital, charged in advance
On committed capital, charged in arrears
On contributed capital, day-weighted
A dated history of every change to the terms

Fee cycles

See every period, including the ones you missed

Fee cycles lay out each period for a share class as recorded, due, missed, or upcoming, so a skipped quarter stands out instead of turning up at audit time.

Fee runs

Fee runs you approve

When a period is due, Covercy One proposes the fee run for each share class, calculated from your terms and allocated across positions. Nothing is recorded until you review and approve it.

Proposed per share class and period
Allocated across each investor’s positions
Recorded only after GP approval
Posted to the management fee line on statements

Fund expenses

Expenses in the categories investors recognize

Record fund expenses such as fund administration and accounting, tax preparation, legal and compliance, insurance, and valuation services in their ILPA expense categories. Each charge is allocated across positions and appears on the matching line of every investor statement.

ILPA expense categories for partnership expenses
Charges allocated across positions
Revisions kept on record, never overwritten
Quarter and year-to-date totals by category

Partnership expenses

Lakeshore Credit Fund II · recorded charges by ILPA category · Q3 2026

Allocated pro rata

Expenses · QTD

$35,100

Expenses · YTD

$85,300

ILPA expense category	QTD	YTD
Fund administration & accounting	$9,500	$28,500
Tax preparation & advisory	$14,000	$28,000
Legal, regulatory & compliance	$3,200	$9,600
Insurance	$2,400	$7,200
Valuation services	$6,000	$12,000

For the GP

Fees that never surprise you

You see every period and approve every run.

Approval before posting

Proposed fee runs wait for your approval; nothing is written automatically.

Missed periods flagged

Fee cycles show any period that should have been charged and was not.

Clear for investors

Fees and expenses appear on investor statements in the lines institutional LPs expect.

Powered by the rest of Covercy One

Fees and expenses flow to the same statements, investor portal, and distributions your team already uses.

Management fee and expense questions

Which management fee methods are supported?: Fees on committed capital charged in advance, fees on committed capital charged in arrears, and fees on contributed capital, day-weighted. Each share class can have its own terms.
Are management fees charged automatically?: No. Covercy One proposes each fee run from your terms, and it is recorded only after you approve it.
How are fund expenses shown to investors?: Expenses are recorded in their ILPA categories, allocated across positions, and shown on the matching lines of each investor’s capital account statement.
What if we change our fee terms?: Terms are kept as a dated history, so a change applies from its effective date without rewriting earlier periods.