PORTFOLIO OPERATIONS FOR LIMITED PARTNERS
Portfolio transparency, without the platform overhead.
Quarterly reporting, capital account reconciliation, and GP document monitoring for family offices, fund-of-funds, and institutional LPs, delivered as a hands-on service, built around the systems you already use.
The back office most LPs are missing
Most LP back offices track capital calls, distributions, K-1s, and quarterly GP reports through a patchwork of email, PDFs, and spreadsheets, workable until the number of GP relationships grows past the point where anything can be tracked from memory.
Altegra Ops takes this on as a contractual, hands-on service: the document processing and reporting rigour of an institutional portfolio monitoring platform, delivered by an operator with 10+ years building exactly these workflows for LPs in alternative assets. Without a software license or a six-month implementation project.
Document management, or LP reporting - or both
Two distinct services, sold together or separately. Start wherever the pain is worse, add the other when you're ready.
Built around your system
Work runs on your existing portfolio monitoring platform, data aggregation tool, or an internal process and not a migration to something new.
A specialist, not a platform
10+ years inside the exact workflows family offices, endowments, and fund-of-funds rely on, applied directly to your portfolio.
WHAT CHANGES FOR YOU
SERVICES
Document management
Every GP document, captured, categorized, and easy to find - not buried in an inbox.
Ingestion of capital call notices, distribution notices, K-1s, quarterly / annual GP reports, amendments, and side letter correspondence
Categorization and tagging by fund, document type, and reporting period
A structured, searchable document repository, accessible any time
Deadline tracking and alerts ahead of capital call funding and distribution confirmations
Document management solves "we can't find anything." LP reporting solves "we don't know our numbers." Take one or both, whichever matches where the pain actually is.
Two services. Together or separate.
LP Reporting & Data Enrichment
Raw GP data, turned into the numbers your investment committee actually needs.
Data enrichment - normalizing raw GP-reported figures: cash flows, NAV, capital account rollforward, IRR / TVPI / DPI / RVPI
Exposure reporting - by strategy, vintage year, and geography
Look-through exposure - underlying holdings mapped across overlapping fund positions, by sector, geography, and asset
Capital account reconciliation against LPA terms, side letters, and fee / waterfall calculations
Recurring transparency reporting, delivered on your cadence
HOW IT WORKS
Steps 1–2 for Document Management. All six for both services.
What LP Reporting output actually looks like
Sample report for exposure by fund strategy.
The Exposure by Strategy graph gives Limited Partners (LPs) an instant snapshot of portfolio diversification across core alternative asset classes—such as Private Equity, Venture Capital, Private Credit, Real Assets, and Hedge Funds. Designed as a quarterly transparency visual, it helps LPs assess concentration risk and ensure their investments remain aligned with target allocation benchmarks. Like all modules, this view is completely customizable: We can ingest your firm’s specific multi-asset data, define custom strategy taxonomies, and tailor visual styles to fit your preferred reporting standards and branding.
Exposure by strategy
Sample cash flow summary by quarter
The Capital Called vs. Distributed chart delivers a quarter-by-quarter breakdown of cash movement, contrasting capital drawdowns against distributions returned to LPs over the course of the year. By mapping capital calls above the baseline and distributions below across Q1 through Q4, investors gain clear visibility into deployment pacing, liquidity requirements, and net capital realization. This cash flow engine can be flexibly configured to match your reporting preferences allowing you to adjust time horizons (monthly, quarterly, or YTD), filter by specific fund vintages or manager tiers, and present metrics tailored to your operational needs.
Capital called vs Distributed
These are genuinely separate services, priced and scoped independently. Some clients start with Document Management alone and add LP Reporting once the documents are under control. Others need both from day one.
ENGAGEMENT MODEL
Monthly retainer — priced per service, scoped to GP relationship count. New engagements start with a discounted pilot quarter.
ABOUT
10+ years in LP back-office operations, now working directly for you
We've spent the last decade-plus inside the back-office operations of alternative asset investing, building portfolio transparency reporting and document processing workflows for limited partners. That means the specific, unglamorous work of turning capital call notices, distribution notices, and K-1s into something an investment committee can actually act on.
Family offices, endowments, and fund-of-funds increasingly need this rigour but don't need or want to pay for a full platform license and implementation project. That's the gap this practice fills: the same discipline and process quality, delivered as a direct, contractual engagement built around how your team already works.
HOW WE WORK
Direct, not layered through account managers or a support queue
Flexible to your existing systems, not a forced migration
Scoped clearly upfront, you'll know exactly what's included before anything starts
The fastest way to know if this is a fit is a short call - no proposal or pitch deck needed upfront. Send a note with a bit about your current process and we'll follow up to find a time.
Let's talk about your portfolio reporting
