Investigate breaks down to source records, forecast cash needs, and test funding scenarios. FundCycle agents prepare findings for your operators to approve.
Start with one workflow and a historical cycle.
The marks file differs from the committee record.
Evidence: supplied marks file and committee record
Approval pending
Confirm the source mark before approving a correction.
Sources · all in by 08:14
Traced to · Valuations
Marks file · Jun 30
$9.6M par
89.50
Prior month's file
89.50
Manager's committee mark
98.50
Prepared finding · source confirmation required
1,284 checks ran today · 41 exceptions in 4 groups
Raised 07:12, before the NAV is struck
Tolerance $8,000 · half a bp of NAV · your number, per vehicle
Routed to loan support · due before the 9:30 handoff · named approver stays with the break
Ranked for review
Source confirmation required
Review the marks file against the committee record before approving a correction.
Cash under the board buffer, at the September close.
Administrator NAV Jun 30, 2026 · $160M · window closes Aug 28 · six feeds in by 08:14
$1.8M
gap to the $6.0M board buffer · $4.2M close
Two ways to close it
Facility draw
$4,300
11 days at 8.0%
Held-back deployment
$15,800
80 days at 400 bp
Undrawn facility $12.0M · subject to eligible use · rounded to $100
Asked $9.9M · the 5% cap fills 80.6% of a 6.2% ask · $1.9M unfilled
Cash bridge
Both ways priced, the call is yours
Unfilled requests cancel at the deadline; last time this fund prorated, three in four came back.
A fourth vehicle, on controls your team already wrote.
22 controls · 4 vehicles · 11 share classes
22 of 22
controls running on the fourth vehicle, day 9 · 85 of 88 platform-wide
Defined once
Proration method
Administrator reconciliation
NAV tolerance check
Daily expense cap
…and 18 more
Defined once, applied everywhereApplied everywhere
412 control runs this week · 2 for review
SMA · repurchase window n/a · expense cap waived per side letter, approved G. Ramirez
Levered Feeder · one entry above the daily expense cap, surfaced for sign-off
410 of 412 runs raised nothing
Administrator reconciliation clears two days later on the feeder than on the interval fund.
React faster.
Scale without scaling the team.
Make better decisions.
FundCycle agents investigate differences down to the source records and prepare findings with supporting evidence. Your operators review the findings and approve what happens next.
Illustrative examples
Trace a keyed mark back to the supplied valuation records. Review the finding and supporting evidence before requesting a correction.
The keyed mark differs from the workbook.
The source report still needs confirmation before a correction can be approved.
Investigate a changed NAV line against the book and earlier review. Approve a response with the evidence in hand.
The changed fee needs fresh approval.
The earlier pack agreed with the book. Its approval does not cover the revised fee.
Trace a cash difference to the underlying transaction. Review the agent's explanation before approving timing or a true-up.
The receipt is missing from the book.
Settlement evidence points to timing. An operator must confirm the explanation.
One governed loop runs from raw administrator files to the hold-or-deploy call.
Administrator files, shadow books, valuations, and bank & custody feeds are mapped into one governed model.
Breaks and anomalies become ranked exceptions as soon as sources land, not at quarter-end.
Lineage traces every number back to source, so resolution starts from evidence instead of scratch.
Roll cash forward through subscriptions, redemptions, and expenses, so the next window is a number you can act on instead of a guess.
FundCycle is a control layer above your administrator and systems of record. It maps and compares. It never overwrites.
There’s no rip-and-replace and no migration project. It starts with the files and extracts your team already uses today.
Your existing stack keeps doing what it does. FundCycle gives you the independent, governed picture across all of it.
The controls are not invented here. They reflect how operations teams at large private markets managers already run reconciliation, exception handling, and sign-off, so your team inherits that standard rather than deriving it.
One governed model
FundCycle
Maps and compares. Never overwrites.
Your team owns every rule, assumption, approval, and decision. It never posts on its own or decides how much cash to hold.
When a source, account, fund, or period is ambiguous, it stops and asks instead of guessing.
Every number travels with its source, timestamp, and audit trail, defensible to your auditors and the LPAC.
No model concludes a number here: every financial result comes from deterministic, inspectable computation. Agents retrieve, classify, explain, and draft. A person signs off, and no fiduciary decision is resolved silently.
Administrator systems stay record-only unless your team approves a write control.
Each firm runs in its own isolated tenant. Nothing you send trains a shared model or informs another firm's mappings, thresholds, or numbers.
Plain answers to what we hear most from finance and operations leaders at semi-liquid funds. If yours isn't here, bring it to the call.
A 30-minute working session: bring one fund, and we'll walk the exception-to-decision loop and a live cash scenario against your real structure. No data leaves your control.