Alternative Investments

Alternative Investments

Personalized service backed by over 30 years of financial services experience

 

As a public accounting firm with hundreds of Alternative Investment clients in over 40 states, and relationships with many of the top service providers and specialists in the country, Richey May has a depth of specialized knowledge that few firms can claim. Our team combines the dedicated expertise found in a national accounting firm with the hands-on approach to client service you’d expect from a boutique provider – a unique model that allows us to bring expert solutions and strategies to your specific business needs.

National Client Representation

We serve alternative investment clients that range in size from $1M to $4.2B in over 40 states. We work with funds utilizing a wide variety of strategies, including, but not limited to, the following: arbitrage, ABS, catastrophic bonds, convertible arbitrage, cryptocurrency, currency, day trading, derivative funds of funds, distressed debt, emerging markets, energy trading, event driven, fixed income, foreign currency, global macro, funds of funds, high yield, long/short, merger arbitrage, mortgage backed securities, reinsurance, risk arbitrage, situational, and structured finance.

 

Types of Entities We Work With

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National Recognition

Richey May is included among the Top Auditors of Hedge Funds in 2017, as ranked by Hedge Fund Alert. The list ranks the top 20 CPA firms by the number of SEC registered hedge funds audited. The rapid growth of Richey May’s Alternative Investments niche practice represents the largest organic increase in 2017 among CPA firms outside of the Big 4 firms. In addition to the hundreds of other funds served by Richey May, the firm added 25 SEC registered clients since the 2016 reporting period.

Senior Leadership

Our alternative investment team is comprised of top industry audit and tax experts in the alternative investment field who have worked on hundreds of funds in their respective careers and can provide a level of quality, customer service and expertise that few other firms are capable of matching.

 

The following partners lead our practice, supported by a deep roster of skilled alternative investment professionals and a firm of over 100 employees and 13 partners:

 

Danny O'Connor-square web

Daniel O’Connor

Assurance Partner
Alternative Investments Practice Leader

Steve Vlasak-square web

Stephen Vlasak

Business Development
Partner, Alternative Investments Practice

 

For background information on additional senior experts in our alternative investment practice, please visit the Team page of our website.

Resources

Richey May is committed to staying on top of current trends and hot topics within your industry. As part of that commitment, we offer a number of resources to help our clients stay ahead of the competition.

  • Richey May Articles

    Crypto Assets: The Hottest New Trend

    As cryptocurrencies continue to grow in value and popularity, more and more funds are jumping into this emergent asset class. Our tax and audit teams at Richey May have been involved in the crypto space for several years, and as a result, have gained valuable insight to support fund managers, particularly when it comes to audit considerations. Stephen Vlasak, Partner in the firm’s Alternative Investments Practice, was recently interviewed by Pat Mulkern, Director of Business Development at Theorem Fund Services, for an article featured in HFM’s West Coast Report. Read what Steve and other service providers have to say about cryptocurrencies and servicing this asset class:

     

    Download the PDF

     

  • Richey May Articles

    Valuation: Income Tax Basis vs. US GAAP

    When reporting for investment values, fund managers need to understand the main differences between the two accounting frameworks in order to make decisions that align with their investment strategy. The audit and tax experts at Richey May & Co., LLP have developed the following white paper to provide an overview of the main differences between the income tax basis of accounting and US Generally Accepted Accounting Principles (US GAAP), as relevant to investment valuation:

     

    Download the PDF

     

  • Richey May Articles

    Understanding Cryptocurrencies: Audit Considerations and Potential Regulations

    With the tremendous growth of cryptocurrencies, many questions exist about the unique challenges these assets present to both fund managers and investors. The audit and tax experts at Richey May & Co., LLP have developed the following white paper to provide an overview of digital currencies and answer some of the questions currently being asked by managers and investors:

     

    Download the PDF

     

  • Richey May Articles

    NYC Alternative Investments Summit Recap

    Whether you’re a one million dollar new launch or a fund that has a billion dollars under management, capital raising is one the most important and challenging aspects of running a successful fund. Richey May & Co. recently co-sponsored the NYC Alternative Investment Summit to provide guidance to fund managers on navigating the challenges of capital raising. Our panel discussion, composed of leaders from a variety of financial backgrounds, is summarized in the link below. Read the recap to learn about building trust-based relationships with potential investors, the importance of a dedicated marketing resource, how to prepare for that first meeting with an investor, and much more from this high-level conversation.

     

    Download the PDF

     

  • 2nd Annual Update: Common Challenges in Private Equity, Hedge Fund and Venture Fund Valuations Under GAAP

    On September 7, 2017, Richey May hosted a complimentary webinar that discussed common challenges in private equity, hedge fund and venture fund valuations under GAAP. This webinar featured experts from Intrinsic, Simon Compliance and Richey May. Topics included: primary valuation approaches; determining enterprise and equity value; complex capital structures; determining price per share (unit); SEC valuation issues; and valuation from an auditor’s perspective.

     

    View the Recording

     

  • Using Performance Exams As Part of your Pitch Book Strategy

    “Performance exams have become standard practice for investment managers considering launching a private fund structure,” says Erik Edson, Senior Audit Manager with Richey May & Co, LLP. In a performance exam, a public accounting firm signs off on the past performance history and issues an opinion on the performance in order to legitimize the trading strategy’s performance numbers – thereby building credibility and persuading potential investors. And when it comes time to present these reviewed performance numbers within a pitch book, Holly Singer, President with HS Marketing, LLC, has some common traps to avoid that inhibit effective communication with potential investors. Download the article below to learn more about the importance of performance examinations and having a well-developed strategy for presenting your pitch book:

     

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  • Richey May is Pleased to Announce Our Inclusion on the 2017 List of Top Auditors of Hedge Funds

    Richey May & Co, LLP is pleased to announce our inclusion on the 2017 list of Top Auditors of Hedge Funds by Hedge Fund Alert. The list ranks the top 20 CPA firms by the number of SEC registered hedge funds audited. The rapid growth of Richey May’s Alternative Investments niche practice represents the largest organic increase in 2017 among CPA firms outside of the Big 4 firms. In addition to the hundreds of other funds served by Richey May, the firm added 25 SEC registered clients since last year’s reporting period.

     

    For more information, please visit the Hedge Fund Alert website at www.hfalert.com.

     

Industry Services

  • Audits, reviews, compilations, agreed upon procedures and other assurance services
  • Initial fund structuring and consulting
  • Federal and state tax returns
  • Management company/general partner tax returns
  • Individual tax returns
  • Tax estimates
  • Valuation consulting
  • Surprise exams
  • Fund document reviews
  • Performance examinations
  • Offshore Cayman filing requirement (FAR form) assistance

 

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