The back office for the private portfolio
Fund commitments, direct deals, and capital calls kept on track so a small team can run a large alternatives program.
- Capital call notice verified and wiredMeridian Growth PartnersInvestor operationsDone Nov 3
- Subscription documents executed at closeBellwether VenturesInvestor operationsExecuted Nov 5
- K-1 chase: 34 of 41 received and filedTax preparerInvestor operationsOn track
- Pro-rata allocation exercised, Series CHalcyon SystemsDirect deal supportExercised Nov 7
- SPV annual filing confirmedRegistered agentDirect deal supportConfirmed Nov 8
- QSBS records updatedFoundry Seed PartnersDirect deal supportUpdated Nov 10
- Next capital call expectedMeridian Growth PartnersInvestor operationsDue Nov 14
Everyone has an advisor. This work doesn’t.
- The RIARuns the public portfolio. The private positions sit outside its reporting stack.
- The CPAFiles the returns. Chasing forty K-1s each March is not a tax practice.
- The attorneyPapers the structures at formation. No one tracks what happens inside them after.
What we do
Investor Operations
Nothing gets missed.
- Capital call processing and confirmation
- Subscription documents and closings
- Document retrieval from GP portals
- K-1 tracking and delivery to tax preparers
- Unfunded commitment and liquidity calendar
- Cash movement reconciliation
- Performance reporting on illiquids
Direct Deal Support
Nothing gets left on the table.
- Diligence coordination and data room management
- An independent returns case for each deal
- SPV formation and administration
- Cap table and pro-rata tracking
- Information and inspection rights monitoring
- QSBS qualification tracking
- Portfolio company monitoring
Who it’s for
Single family offices
- 2-5 people running a program built for more than 10.
- A new commitment pace the current process wasn't designed for.
- Investment staff overspending time on operations.
- The person who knew where everything was has left.
Boutique multi-family offices
- A new client's alternatives portfolio is consuming a team sized for something else.
- Alts servicing is eating the margin on your existing fee.
- You need the capability behind your own brand, not another logo in front of the client.
Compared with hiring
| Junior ops hire | Senior ops hire | Franklin | |
|---|---|---|---|
| Loaded cost | ~$140K | ~$230K | Engagement fee |
| Document operations | Yes | Yes | Yes |
| Deal-side support | No | Sometimes | Yes |
| Continuity if they leave | — | — | Not a factor |
| Segregation of duties | No | No | Yes |
| Scales with deal volume | No | No | Yes |
Most clients priced out a hire before they called us. We’d rather you make that comparison explicitly.
How an engagement starts
- 1
Private Portfolio Review
A 3-4 week diagnostic: commitment inventory, organizational clean-up, consolidated reporting package, document and data gaps.
- 2
Findings
A written report of what exists, what's missing, and what it costs to leave unfixed.
- 3
Ongoing operations
If the findings warrant it, we manage investor operations and/or direct deal support for your private portfolio.
The review is a fixed-fee, standalone engagement, with no obligation to continue.
Works with your stack
We operate the tools you already have. No software to buy, no migration required.
Who’s behind it
David Franklin
David founded Franklin Fund Services after a decade inside public and private markets: including private equity, hedge funds, and venture capital. On the institutional side, he has advised BlackRock, Fidelity, and JPMorgan, and supported allocations to private markets managers for the University of Florida’s $6B endowment. He has also advised ultra high net worth families on investments at Investec Wealth & Investment with commitments across venture, growth, and direct deals.
He holds a BA from the University of Oxford and an MBA from the University of Florida (Warrington School of Business).
Confidentiality and controls
- Information walls between client families.
- No shared personnel across conflicting mandates.
- No custody or signature authority, by design.
- SOC 2-aligned controls across systems and process.
Common questions
How do you charge?
A retainer scoped to the complexity of the portfolio, not its size. The Private Portfolio Review is priced separately as a fixed fee.
Do you replace our RIA, CPA, or attorney?
No. We run the operations that sit between their mandates, and each of them ends up working from cleaner inputs than they had before.
Do you take custody or move money?
Never. We prepare, track, and confirm; your designated signatories execute every movement.
What does getting started involve?
It begins with the Private Portfolio Review: a three-to-four-week diagnostic that ends in a written findings report. There is no obligation to continue afterward.
Can you work behind our brand?
Yes. For multi-family offices we operate white-label, so your clients see your name while the work runs to a standard you approve.
What if we want to bring this in-house later?
We'll help you hire and hand off cleanly, including a transition period working alongside your new team. Most clients don't take us up on it once they've seen what it actually takes to replicate.