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Build it right the first time.

The back office decisions you make at Fund I are harder to reverse than they look. GPFS helps emerging managers build institutional-grade operations from the start, so the infrastructure you launch with is the infrastructure you're still proud of when you're raising Fund V.
Emerging Manager Services

The pattern we see with first-time managers

Most emerging managers underinvest in back-office infrastructure at launch. You're raising capital, building a portfolio, and managing an LP base simultaneously.

The back office can wait, until it can't.

The carried interest methodology that was set up quickly doesn't hold up to audit, the track record data lives in a spreadsheet that nobody trusts anymore, a major LP runs operational due diligence and finds gaps that take months to fix. The DIY-approach or fund administrator that was fine for Fund I can't handle the complexity of Fund II.

GPFS eliminates that arc. We build operational foundations designed to scale — not foundations that need to be rebuilt once you're too busy to rebuild them.

What We Build With You

Investor-Ready Operations from Day One

Capital account structures, carried interest methodology, investor portal setup, LP document workflow — everything an institutional LP would examine in operational due diligence, established correctly at launch.

Fund Accounting Infrastructure

General ledger setup, accounting policy documentation, ILPA-aligned reporting templates, SOC 1 compliance. We build these not because you need them for your first fund close, but because you'll absolutely need them to close your third.

Management Company Operations

Banking relationships, payroll infrastructure, T&E policy, vendor selection (auditors, tax, AML, IT) — we've done this with many first-time managers and know where the operational risks sit before they become problems.

GP Services

We structure the economics and governance of the GP entity right from the start, including carried interest allocation methodology, vesting and reallocation frameworks, and GP member reporting.

Track Record Infrastructure

Your performance history will be scrutinized in every future fund raise. GPFS structures track record data within GP Data from Fund I so that it's clean, auditable, and ready for institutional LP due diligence when you need it.

Your Network, Extended

GPFS has deep relationships with the auditors, tax advisors, legal counsel, AML consultants, and technology providers that serve private market managers. We don't just administer your fund, we help you build the right team around it.

Every service connects to GP Data

The data you generate through fund administration isn't siloed in your accounting system. It's structured, validated, and available as a canonical dataset that supports automation, custom reporting, and future AI capabilities — starting from Fund I.
Learn About GP Data

This offering is designed for managers who are:

  • Raising Fund I or in first close, with $50M–$250M in target AUM
  • Founders with prior experience at institutional firms ($20B+ AUM) who know what a real back office looks like
  • Actively running SPVs or co-investment vehicles alongside fund formation
  • Planning to raise multiple funds — not a one-and-done structure
  • Willing to invest in operational infrastructure as a strategic decision, not a line-item cost

Not every emerging manager is the right fit for GPFS. We're the right partner when you care about building it right, not just building it fast.

Not where you are? We also work with:

Established Managers

When good enough stops being good enough

For managers with $1B-$20B AUM who've outgrown patched processes and need to fix the data foundation.
Institutional Managers

Precision at scale

For $20B+ managers where data integrity is a strategic, board-level concern and not a back-office task.

PRAISE FOR GP FUND SOLUTIONS

"GPFS has outperformed as a trusted advisor and cost effective support provider to Godspeed Capital. Thanks to GPFS we were able to mobilize our corporate infrastructure on an accelerated basis to support the growth of our investment platform. We are grateful for the positive working relationship that we maintain with the wonderful team at GPFS."

  • Douglas T. Lake Jr., Godspeed Capital Management

Ready to buld your back office the right way?

Whether you're pre-fund or approaching first close, we'd like to understand where you are and what you're building toward.
Talk To Our Emerging Manager Team