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Distribution partners, closings, and DTCC/AIP, run in one place
Raise through broker-dealers and registered investment advisers (RIAs) without a chain of emails and spreadsheets. Covercy One runs the selling group, the packages, the closings, and the commissions, and our fund administration team handles DTCC/AIP submission from the same records.
| Investor | Committed | Commission | Net to fund | DTCC |
R. Delgado Harborline Securities | $100,000 | $6,000 | $94,000 | Accepted |
Kestrel Trust Harborline Securities | $250,000 | $15,000 | $235,000 | Pending |
J. & A. Whitcomb Summit Lane Advisors | $75,000 | $4,500 | $70,500 | Not submitted |
One closing, too many handoffs
On most raises, a single investor passes through four or five tools before their capital shows up on a statement: a signed package emailed to the sponsor, a wire in the bank portal, a commission worked out in a spreadsheet, a data request from the administrator, and a statement sent as a PDF. Every handoff is a chance for the numbers to disagree.
Your whole distribution network, organized
Invite managing broker-dealers, broker-dealers, and RIA firms into Covercy One with access scoped to the funds they sell. Each firm submits investor packages through its own login, and each review step is recorded.
- Invite broker-dealer and RIA firms with scoped fund access and their own logins
- Investor packages submitted by the firm, or on its behalf by your team
- Managing broker-dealer placement review with a checklist
- Connect an existing opportunity to the broker who brought it
| Investor | Firm | Subscription | Stage |
| R. Delgado | Harborline SecuritiesBD | $100,000 | Approved |
| Kestrel Trust | Harborline SecuritiesBD | $250,000 | FA review |
| J. & A. Whitcomb | Summit Lane AdvisorsRIA | $75,000 | MBD review |
| Oakmere Family Office | Summit Lane AdvisorsRIA | $500,000 | Submitted |
Closings your fund administrator executes
When a fund administrator is assigned to the fund, they review packages from signature, match incoming wires to investors, and execute the closing themselves. Executing a closing creates the investor positions and the commission payments in one step. Funds without an assigned administrator are closed by your team the same way.
- Document review from the moment an investor signs
- Incoming wires matched to the right investor
- Execute creates positions and commission payments together
- A per-closing view of committed, contributed, and net-to-fund amounts
Commissions calculated by the system
Commission rules are set up once per fund. Covercy One prices every leg on the subscription amount, attributes it to the firm that earned it, and re-prices automatically when terms change. Reviewers confirm commissions and net-to-fund before approval, and the closing shows exactly who earned what and what is released to each payee.
- Commission legs priced on the subscription amount and attributed to the earning firm
- Due-diligence reimbursement as a percentage or a flat amount
- Gross-up rates set at the fund, firm, or investor level
- A Fees & Conditions review step before approval
- Commission split and releases per payee at closing
- Commissions are paid outside the platform and marked paid in Covercy One, and never shown to investors
DTCC/AIP submission, handled
For funds held through custodians on DTCC's Alternative Investment Products (AIP) platform, our fund administration team handles DTCC/AIP submission and reporting. In Covercy One, each position carries its DTCC status, so your team always knows where every submission stands.
- DTCC/AIP submission and reporting by the Covercy Fund Administration team
- DTCC status on each position: not submitted, pending, accepted, or rejected
- A full audit trail of closing, position, payment, and DTCC status changes
Oversight of every partner and every closing
Your team sees the full picture, and every change is on the record.
Scoped partner access
Each firm sees only the funds and investors it is responsible for.
Every change audited
Closings, payments, and DTCC status changes are logged, including the reason for any manual adjustment.
Live closing status
Committed, contributed, commission, and net-to-fund figures update as packages move through review.
Powered by the rest of Covercy One
Closings feed the cap table, the investor portal, and distributions in the same platform.
Fundraising
Take investors from interested to funded with online subscriptions, accreditation, and one-click ACH.
ExploreDistributions
Calculate, approve, and pay distributions to the cent, then reconcile automatically.
ExploreInvestor Portal
Give LPs a branded portal for positions, documents, reporting, and capital accounts.
ExploreDistribution partner and DTCC/AIP questions
- Does Covercy handle DTCC/AIP submission?
- Yes. DTCC/AIP submission and reporting are part of Covercy Fund Administration and are handled by our fund administration team. Covercy One tracks the DTCC status of each position so you can see where every submission stands.
- Can a fund administrator execute closings in Covercy One?
- Yes. When a fund administrator is assigned to the fund, they review packages, match wires, and execute the closing. If no administrator is assigned, your team executes it.
- Does Covercy pay broker-dealer commissions?
- No. Covercy One calculates and tracks commissions and shows what is due to each payee. The payments are made outside the platform and then marked paid in Covercy One.
- Which kinds of firms can join the selling group?
- Managing broker-dealers, broker-dealers, and RIA firms. Each firm gets its own login with access limited to the funds it sells.
- Do investors see commission details?
- No. Commission terms and amounts are visible to your team and the relevant reviewers only.