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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.
| 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 |
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
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 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
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
| 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 |
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.
Fund Administration
Institutional-grade NAV, bookkeeping, tax, and K-1s, delivered inside the same platform.
ExploreDistributions
Calculate, approve, and pay distributions to the cent, then reconcile automatically.
ExploreNeo, your AI Co-GP
The AI layer that drafts investor updates, runs reports, and automates workflows across Covercy One.
ExploreManagement 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.