Fund Manager
External
Ascendtogether · Encino, CAPrepare for this interview
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About the role
About Ascend Backed by private equity from people-focused Alpine Investors, Ascend is building a dynamic platform for regional accounting firms that enables them to stay independent while accessing the resources of a Top 25 firm to help them grow. Ascend provides access to growth capital, robust talent acquisition and training, leading quality management resources, best-of-breed technology, AI tools, an offshore captive, shared back-office services, a catalytic leadership system, and modernized equity incentives so that firms can surmount today's industry challenges to reach their full potential. For more information, visit www.ascendtogether.com . About Lucas Horsfall Have you dreamt about a career in public accounting with work-life balance? Enjoying the diversity of clients and the challenging work public accounting offers with the added benefits of professional growth and opportunity for advancement? Have you experienced a culture that is fun and diverse offering an authentic family feel with people that truly care about you and your professional development? Lucas Horsfall is that CPA firm. Celebrating our 68th year anniversary in 2025, we attribute our exceptional growth and low turnover to our appreciation of our people and clients. This growth has provided a need for a Fund Accounting Manager to help deliver personal and experienced service to our vast array of clients. At Lucas Horsfall, a Fund Accounting Manager oversees the accounting, financial reporting, and operational activities for real estate and private equity funds. This role is responsible for managing both U.S. GAAP and tax-basis financial reporting, ensuring accurate investor allocations, and maintaining compliance with partnership agreements and regulatory requirements. The position plays a key role across the full fund lifecycle, from capital activity to audit and tax reporting. This position will be achieved in a hybrid environment out of our Encino or Pasadena office locations.
Responsibilities
- Manage day-to-day fund accounting operations, including general ledger activity, journal entries, and reconciliations
- Oversee monthly and quarterly closes, including preparation and review of NAV calculations
- Review U.S. GAAP and tax-basis financial statements, ensuring accuracy and consistency between reporting frameworks
- Prepare and/or review capital calls, distributions, and investor allocations in accordance with Limited Partnership Agreements (LPAs)
- Maintain and review partner capital accounts, including allocations of income, expenses, and carried interest/waterfalls
- Coordinate accounting for investment activity, including acquisitions, dispositions, financing, and equity transactions
- Manage entity structures, including consolidations across funds, SPVs, and holding companies
- Partner with external auditors and tax advisors to support annual audits and tax reporting (e.g., K-1 preparation)
- Maintain and enhance internal controls, policies, and accounting procedures
- Lead, mentor, and review work of fund accounting staff
- Required Qualifications
- Bachelor's degree in Accounting or Finance
- Licensed and active CPA
- 5-10+ years of experience in real estate, private equity, or alternative investment fund accounting
- Strong knowledge of partnership accounting, including capital accounts and allocations
- Experience preparing or reviewing both GAAP and tax-basis financials
- Familiarity with book-to-tax differences and ability to work and coordinate with tax teams
- Experience with fund structures (LPs, LLCs, SPVs, blocker entities)
- Demonstrated leadership and team management experience
Requirements
- Background in both real estate and private equity funds
- Experience with complex waterfalls and carried interest structures
- Experience with investor subsequent closes and concept of catch-up interest
- Exposure to property-level accounting or development projects
- Experience working with third-party sponsors of joint venture investments
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