Meet Neo, your AI-powered Co-GP.
Capital account statements, straight from the ledger
Give every investor an ILPA-formatted capital account statement without building it in a spreadsheet. Covercy One composes each statement from the live capital ledger, so the numbers your limited partners (LPs) see are the numbers in your books.
| NAV reconciliation | QTD | YTD | ITD |
| Beginning NAV – Gross of Carried Interest | $1,026,000 | $990,000 | — |
| Contributions | $150,000 | $150,000 | $1,050,000 |
| Distributions | ($54,000) | ($108,000) | ($157,500) |
| (Management Fees) | ($6,563) | ($19,688) | ($65,625) |
| (Tax Preparation & Advisory) | ($2,100) | ($4,200) | ($8,400) |
| Balancing change in value | $62,663 | $167,888 | $357,525 |
| Ending NAV – Gross of Carried Interest | $1,176,000 | $1,176,000 | $1,176,000 |
The layout institutional investors expect
Statements follow the ILPA capital account statement layout, with its labels, for a NAV reconciliation and a commitment reconciliation across quarter-to-date, year-to-date, and inception-to-date. Lines the platform does not calculate are left off rather than shown as zero, so nothing on the page is a placeholder.
- NAV reconciliation and commitment reconciliation
- Quarter, year, and inception-to-date columns
- Beginning and ending NAV labelled gross of carried interest
- Partner transfer lines, so acquired interests report correctly
Fees and expenses on the statement, automatically
Management fees and partnership expenses you record in Covercy One flow onto the matching ILPA lines for each investor. There is no separate fee schedule to reconcile against the statement.
- Management fee line from recorded fee runs
- Partnership expenses in their ILPA categories
- Each investor’s share allocated from their positions
- A balancing change-in-value line that names what it contains
A statement for every entity an investor uses
Investors who hold through an individual name, a trust, and an LLC get a statement for each investing entity, broken down by share class and position, so every account is clear on its own.
Published with your quarterly report
Include the capital account statement in your investor report package with one setting. Each investor sees their own statement in the investor portal and gets a personalized PDF, stamped with the date the figures were generated.
- Statement included or left out per report package
- Personalized web view and PDF for each investor
- Your firm’s branding on every page
- CSV export of statement lines for your team
Review before it goes out
You decide when statements are published and what goes with them.
Preview every statement
See exactly what each investor will receive before you publish the report package.
Investor-level privacy
Each investor sees only the statements for their own investing entities.
Always the current figures
Statements are composed from the live ledger, so a late adjustment flows through before you publish.
Powered by the rest of Covercy One
Statements draw on the same records as your investor portal, distributions, and fund administration.
Investor Portal
Give LPs a branded portal for positions, documents, reporting, and capital accounts.
ExploreFund Administration
Institutional-grade NAV, bookkeeping, tax, and K-1s, delivered inside the same platform.
ExploreNeo, your AI Co-GP
The AI layer that drafts investor updates, runs reports, and automates workflows across Covercy One.
ExploreCapital account statement questions
- What is a capital account statement?
- A capital account statement shows an investor’s position in a fund for a period: their beginning balance, contributions, distributions, their share of fees and expenses, the change in value, and their ending balance, along with their commitment and unfunded commitment.
- Do you use the ILPA template?
- Statements are ILPA-formatted. They follow the ILPA capital account statement layout and labels for the lines Covercy One calculates, including management fees and partnership expenses. Lines the platform does not calculate are left off rather than shown as zero.
- Is NAV on the statement net of carried interest?
- No. Beginning and ending NAV are gross of carried interest and labelled that way, using ILPA’s own wording.
- Can investors download their statements?
- Yes. Each investor can view their statement in the investor portal and download a personalized PDF from the report package.
- Do evergreen funds get ILPA statements?
- ILPA-formatted capital account statements are produced for closed-end holdings. Evergreen holdings report through the investor portal and report packages.